Floid Acquired by PayModum | Financial Services M&A Deal

PayModum has acquired Floid, a payments processing business in Delaware, for $1.164. PayModum acquisitions aim to expand instant online bank payment capabilities by adding Floid’s direct local relationships that enable merchants to process local, instant bank payments in the US. Floid supports account information services used for payee verification, including DOB and name/address data, helping merchants improve compliance and acceptance versus card-only flows. The Floid acquisition is an add-on acquisition under financial services M&A, with PayModum positioning as a strategic acquisition player in the growing instant bank payments market. Deal status is announced, and the acquisition is expected to strengthen PayModum’s platform used for 150+ online payment methods.