(Reuters) – U.S. payments technology company Fiserv said on Monday it would buy Payfare, a digital banking firm based in Canada.
The deal will allow Fiserv to expand its footprint in the payments technology market catering to gig-economy workers, where Payfare is a major player.
Fiserv did not disclose the value of the deal. It did not immediately respond to a Reuters request seeking additional details.
Payfare had a market value of C$101.24 million ($70.3 million), as of last week.
The deal is expected to close in the first half of next year, Fiserv said.
($1 = C$1.4403)
(Reporting by Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)