Tutuka and Paymentology merge to create new paytech “powerhouse”
Two paytech firms, Tutuka and Paymentology, have announced a merger that will “create the world’s first global issuer-processor spanning 49 countries”.
The new entity – “a payments and card processing powerhouse” – will operate under the Paymentology name, issuing and processing Mastercard, Visa and UnionPay cards worldwide, and employing 270+ people.
Paymentology will also be able to upgrade clients to a dedicated platform just for that client, or in particular countries – a feature not available through any other processor – the two companies claim.
Both companies were founded in 2015. Paymentology is based in London while Tutuka’s HQ is in Dubai.
Rowan Brewer, CEO at Paymentology, says: “Banks and fintechs are racing to provide customers with digital and data-driven features.
“People want to be able to pay with a virtual card – sometimes online, sometimes tapping their phone – but everything digitally.”