Best2Pay Best2pey

Best2pei LLC is a representative office of the British company Best2Pay in Russia.

Best2Pay (Best2pey LLC) is a processing center that aggregates online payments for companies operating in the field of:

• Online commerce (online stores)
• Service startups
• Mobile Applications

History

2021: Sovcombank bought Best2pay for $44.9 million

At the end of October 2021, Sovcombank closed a deal to acquire Best2pay for $44.9 million. Taking into account the exchange rates at the time of purchase, it was about the amount of 3.2 billion rubles.

The purchase of the financial platform Best2pay is stated in the report of Sovcombank on IFRS, which was published at the end of November 2021. Additional details regarding the transaction are not disclosed.

The group is in the process of evaluating the distribution of the acquisition cost to the net assets of Best2Pey LLC, the bank's statements indicate.

Sovcombank acquired Best2pay for $44.9 million

It is assumed that the Best2pay platform will be used in the new digital and financial services of Sovcombank, which began to develop even more actively after the creation of Sovcombank Technologies in 2021. It was headed by Vyacheslav Litovchenko, former deputy head of the bank's information technology department. Sovcombank plans to transfer some employees from the banking technology department to this company.

By the end of 2021, Sovcombank Technologies will employ about 800 people. By the end of 2022, Sovcombank Technologiya expects to increase its staff to 1.3 thousand employees.

One of the main tasks of the company is the development of the ecosystem for the Halva installment cards project, Albert Boris, deputy chairman of the bank's board, told Frank Media. According to him, the company will participate in innovative developments using biometrics, chat bots, conversational artificial intelligence and its application in the financial sphere, as well as pilot technologies in which it sees potential.

We decided that the new IT company will develop and maintain the group's companies centrally. This will provide an opportunity for synergy in terms of integrations of different systems, seamlessness for the client, and so on, but at the same time it will allow group companies from different segments of the financial market to serve companies - factoring, insurance, banks that have not yet joined, leasing, post-office business, trading platforms, service applications for other services, other services for partners and customers of Halva, "said Boris.[1] for $45 million

Notes