In a significant move to enhance its cross-border payments service, Bitmama Inc., the blockchain payments platform, has successfully acquired Payday, a virtual card service provider. The acquisition, facilitated through Bitmama’s cross-border payments product, Changera, aims to consolidate the blockchain payment platform by securing 100% ownership of Payday’s customer base. As part of the integration, Payday’s brand will continue to operate under Changera, leveraging its stablecoin infrastructure.
Changera’s Evolution and Value Proposition
Established in 2021, Changera has been on a mission to streamline and secure cross-border payments and remittances. With a particular focus on businesses in Nigeria, Ghana, Kenya, and Canada, Changera has positioned itself as a fintech platform offering an effortless and safe solution for its customers.
Strategic Acquisition to Boost Customer Experience
The acquisition of Payday by Bitmama’s Changera is a strategic move aimed at improving customer experience and service reliability. Before the acquisition, Payday relied on third-party integrations, which presented various liabilities and challenges. The integration of Payday into Changera is expected to address these issues, providing a seamless and enhanced experience for users.
Integration Benefits and Key Personnel Transition
As part of the integration process, Changera will absorb several key personnel from Payday across various departments, including marketing, customer service, and engineering. This transition is poised to strengthen Changera’s internal capabilities, allowing the platform to benefit from the expertise and experience of Payday’s skilled professionals. The consolidation of talent is expected to contribute to the overall growth and efficiency of Changera’s operations.
Conclusion: Fortifying Cross-Border Payment Solutions
Bitmama Inc.’s acquisition of Payday signals a strategic effort to fortify its cross-border payments service through the established Changera platform. By bringing Payday under the Changera umbrella, Bitmama aims to overcome challenges associated with third-party integrations and enhance the overall reliability and experience for its users. The integration not only consolidates customer bases but also enables Changera to expand its reach and value proposition in the evolving landscape of blockchain-based payments.