The acquisition is said to enable global banks and financial institutions to simplify digital and physical financial card and payments
Entrust, a US-based trusted identity, payments and data protection company, has agreed to acquire French financial technology company Antelop Solutions for an undisclosed sum.
The transaction is said to combine Antelop’s solutions with the Entrust card issuance portfolio.
It will also enable global banks and financial institutions to create an integrated, and easy digital and physical financial card and payment experiences for their customers.
Also, the transaction would provide financial institutions with a portfolio of digital and physical credential issuance and transaction security solutions.
The deal is expected to close in few weeks, subject to certain closing conditions.
Upon closing, Antelop’s team of nearly 30 employees will be moved to Entrust, including its founder and CEO Nicolas Bruley, who will continue to lead them.
Entrust product development SVP Mike Baxter said: “Entrust is empowering our customers to meet the challenge of next-generation payment solutions.
“By bringing the Antelop secure digital financial credential solutions into the Entrust portfolio, customers will gain access to the latest thinking and new innovation across the consumer payments ecosystem.
“Entrust has been investing and leading innovation in financial credentials for more than 50 years, and we expect this to continue for decades to come.”
Established in 2014, Antelop Solutions digitises credit and debit cards, and secure banking apps, to help partner banks go mobile first and deploy all-digital card features.
Its ‘One Digital Card solution’ is said to enable banks to deliver and manage digital cards securely in customer mobile apps using a single software development kit (SDK).
The solution includes token management, NFC payments, customer authentication, a secure interface, and APIs to launch digital cards into major mobile wallets.
Antelop said that it serves more than 40 leading banks in 25 countries, and its solutions are PCI-DSS certified and work in compliance with European PSD2 regulations.
Antelop Solutions CEO Nicolas Bruley said: “We are extremely pleased to join the Entrust team. Our game-changing technology greatly reduces the complexity of issuing digital payment offerings.
“As a certified Visa, Mastercard and Cartes Bancaires (CB) partner, we can deliver fast, secure integration of all card features onto a single digital payment credential.
“This empowers banks, credit unions and other issuers to offer true digital-first payment credentials that fully align with consumer expectations for simplicity and security.”