Floid Acquired by PayModum | Financial Services M&A Deal

PayModum has acquired Floid, a payments processing business in Delaware. PayModum acquisitions aim to strengthen instant online bank payments by adding Floid’s direct relationships that enable local, real-time bank payment flows for merchants in the US. Floid supports account information services used for payee verification, including DOB and name/address data, improving compliance and reducing reliance on card-only payment methods. The Floid acquisition is an add on acquisition and strategic acquisition by PayModum, a global payment gateway, to expand acceptance and payment performance through a single integration. Deal size was undisclosed, and the announcement status is pending further closing details.