First Data has acquired ayCash, a Germany-based provider of cashless payment terminals and digital merchant services, for an undisclosed sum.

ayCash, which was founded in 2008, operates digital properties like YesCash and Cash4Less.

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Furthermore, it offers technical solutions for interbank network Girocard and credit card acceptance to DACH-based merchants.

ayCash founder Hans Hezel said: “I’m extremely enthusiastic about this deal as it will be tremendously positive for both companies.

Services offered by the acquired firm include the ability for businesses to buy or rent high-speed card acceptance terminals. Furthermore, it will also provide support for dispatch, installation and maintenance.

“As part of First Data we will be able to further improve our products and services and therefore grow our customer base in Germany, Austria and Switzerland.”

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First Data head of EMEA and co-head of global financial solutions John Gibbons said: “We continue to see strong growth in Germany and are committed to continuing to serve our customers in the region today and into the future.

“In fact, according one of our recent surveys of cashless trends in Germany, we revealed that as many as 54 percent of German consumers expect cash to become obsolete in as little as a few years.”

Recently, First Data acquired Brazilian electronic funds transfer (EFT) solutions provider Software Express. It offers a payments gateway, a multi-acquirer EFT, multi-acquirer EFT POS, reconciliation, and also automated recurring payments.