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Bambora is an international payments company based in Stockholm, Sweden that processes payments in 65 markets around the world.
The North American office is located in Victoria, British Columbia. It began as Beanstream in 2000 and evolved into Bambora in 2015, joining 12 other companies around the world.
In July 2017, Bambora joined the Ingenico Group, one of the world’s largest payments companies, to further streamline the payment experience. Together, Bambora and Ingenico offer payment solutions that scale as companies grow their businesses globally.
Beanstream enabled businesses of every size to receive and make payments online, in-store, and in-app since early 2000. With the largest payment suite in the industry, Beanstream helped everyone from the independent store owners to Fortune 500 companies succeed. Beanstream grew to be responsible for processing over 30% of all e-commerce in Canada.
The Swedish fintech innovator, Bambora Group, announced the signing of a definitive agreement to acquire Beanstream Internet Commerce, Inc. Bambora plans to leverage this new business combination to enter the North American market. Bambora’s ambition is to become a global one-stop-shop with the same unique offer, services and customer experience regardless of where their clients are located. The goal? To become one of the industry’s most innovative and growth-focused payment companies globally.
"Our customers, especially those with a solution or software that they want to round-out by also facilitating payments, have expressed the importance of ease of use and seamless integration. They want to focus on their business specialties and let us focus on payments. As a result, Beanstream USA uniquely delivers on a single platform that allows U.S. clients to seamlessly expand their business to Canadian markets with less or no integration work, making it easy to go into new regions faster." - Ryan Stewart, Head of Product
If you have been following us over the last seventeen years, you know we had been acquired four times and yet have always retained the Beanstream brand. While the colours have changed over the years, the brand name stayed strong. So why did we decided to retire the Beanstream brand? While there are lots of great reasons, the main one is to signal to our customers that this one is sticking. It took a village (or our entire team in North America!) to make this rebrand happen.
This acquisition represents a key milestone in the execution of Ingenico Group’s strategy towards payment services with a disruptive approach and:
From a purely hardware company selling terminals to banks & acquirers, Ingenico Group has, over the past decade, continuously shifted its model towards payment services. Bambora is a key milestone in that strategy. Its integration into our group will enable us to scale up our Retail business, which is key on our path to further improve our position as an undisputable leader of the seamless and omnichannel payment experience,” said Philippe Lazare, Chairman and Chief Executive Officer of Ingenico Group. “The whole group joins me in warmly welcoming all the employees of Bambora and I look forward to working closely with them.”
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