Spire Payments Acquires STS EFT Division
Spire Payments announced the acquisition of the EFT (Electronic Funds Transfer) division of STS. One of the most well established and respected businesses of its type in the Middle East, STS provide POS payment devices and associated services to more than forty customers across UAE, Saudi Arabia, Kuwait, Jordan, Qatar, Lebanon, Egypt and Oman.
The EFT division of STS was more recently a Master Distributor for Hypercom, and customers in the region are well acquainted with their exceptional service and customer-centric focus. With nearly two decades of providing payment solutions and support in all sectors, STS can boast expertise with standalone POS terminals, mobile POS terminals, PIN Pads, unattended terminals and transaction networking devices.
Establishing Spire Payments MEA in Dubai
With its headquarters in Dubai the newly formed Spire Payments MEA will offer best-of-class services such as software development, technical support and repairs to augment the sales and marketing activities. The MEA centre will also include a POS application development division and a fully equipped terminal repair facility in Jordan together with secure warehousing for all Spire Payments customers within the region.
Strategic Expansion Across Global Markets
This geographical expansion further demonstrates Spire Payments’ ongoing strategic acquisition program and perfectly complements the ever-expanding centres of excellence in Spain, England, Scotland, Central Eastern Europe and China. Combined with Spire’s innovative SP line of payment solutions, this move provides a perfect springboard to exploit multiple opportunities within the Middle East and Africa region while also offering the highest quality of service to customers.
Leadership Perspectives on the Acquisition
Brian Stobo, Managing Director Spire Payments MEA explains, “After working with the STS team for almost 20 years, I believe this is a natural step in the progression of Spire Payments. We will capitalise on the expertise, experience and integrity of the STS team to ensure rapid growth for Spire Payments in the Middle East and Africa.”
Kazem Aminaee, CEO and President of Spire Payments, says of the move, “This acquisition is yet another decisive step in our drive to deliver our global payment strategy and to accelerate our revenue growth. STS and Spire Payments will work together to ensure continuity with existing installations and a platform to welcome all new customers. We see MEA as one of the most promising regions for growth and innovation and this is a truly exciting day for both STS and Spire.”
Aiman E Mazahreh, CEO and Co-Founder of STS adds, “This is a milestone in the history of STS and will build on our long-standing experience in the region. This move will result in a hub to support an ever expanding number of customers with an eye towards becoming the MEA market leader with the highest market share. The coming together of exceptional teams from both sides will ensure our customers benefit from the latest technologies and world class service.”
