In the world of payment processing, there are few names that stand out as much as Bambora. With its innovative approach to payment technology and a focus on making payments as seamless and secure as possible, Bambora has become a formidable competitor in the industry, challenging traditional players like Nexi and other acquirers. In this article, we’ll explore the history of Bambora, its journey to success, and how it’s taking on the competition.
The Founding of Bambora
Bambora was founded in 2015 as a result of a merger between two payment companies, Euroline and MPS (Merchant Payment Services). Euroline was a Swedish payment gateway, while MPS was a Canadian payment processor. The merger brought together the expertise and resources of both companies, allowing Bambora to establish a foothold in both Europe and North America.
From there, Bambora quickly began to expand its operations, acquiring other companies and investing in new technology. One of its most significant acquisitions was of the Australian payment processor IP Payments in 2017. This allowed Bambora to enter the Asia-Pacific market and continue its global expansion.
Bambora's Innovative Approach to Payment Technology
One of the things that sets Bambora apart from other payment processors is its focus on innovation. Bambora has invested heavily in technology, with the goal of creating a seamless payment experience for its customers. One of its most significant innovations is its Checkout solution, which allows merchants to accept payments from multiple channels, including online, mobile, and in-store.
Bambora also offers a range of payment options, including credit and debit cards, e-wallets, and bank transfers. This variety ensures that customers can choose the payment method that’s most convenient for them, while also giving merchants the flexibility to accept payments from a wide range of customers.
Bambora's Competition from Nexi and Other Acquirers
Despite its success, Bambora faces stiff competition from other acquirers in the industry. One of its most significant competitors is Nexi, an Italian payment processor with a market share of around 50% in Italy. Nexi has been around since 2015 and has a strong presence in the European market.
However, Bambora’s innovative approach to payment technology has allowed it to differentiate itself from Nexi and other acquirers. Bambora’s focus on creating a seamless payment experience and offering a wide range of payment options has resonated with customers, helping the company to continue its growth and success.
Bambora’s journey to success is a testament to the power of innovation and the importance of meeting customer needs. By investing in technology and creating a seamless payment experience, Bambora has been able to disrupt the payment industry and take on established players like Nexi. As the industry continues to evolve, it will be interesting to see how Bambora continues to innovate and grow, and what new challenges it will face from its competitors.