Payment service provider Shift4 acquired a charitable company for $54 million
Philanthropy is teaming up with cryptocurrencies to change the world for the better
02.03.2022 - 11:05
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What’s new? On March 1, it became known that Shift4, a US payment processing company, has acquired The Giving Block charity platform. The deal is valued at $54 million. The Giving Block is an online platform that allows more than 1300 non-profit organizations and charities to accept cryptocurrency donations.
What is known about Shift4? Shift4 Payments is a US-based company that provides small businesses with contactless payment services, as well as online restaurant ordering systems, payment security, and analytics. Shift4 has over 425 software integrations and over 200 000 merchant customers.
How do the parties assess the partnership? Jared Isaacman, CEO of Shift4, said:
“Shift4 will invest further in The Giving Block’s successful strategy while also pursuing a $45+ billion embedded cross-sell opportunity by bundling crypto donation capabilities with traditional card acceptance.”
Regarding the acquisition, the team at The Giving Block wrote:
“Shift4’s status as a leading payments company with over $200 billion in annual payments volume, plus our shared commitment to taking crypto mainstream and leading on nonprofit sector payments innovation, has given us the opportunity to have the impact on the world we began dreaming up.”
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