myPOS has entered an agreement to acquire Munich-based fintech company LAVEGO AG to enhance its presence and service offerings in the German payment market.

Overview of LAVEGO

LAVEGO AG is a Munich-based fintech company that specializes in Girocard acceptance and secure payment solutions. The company has been authorized by Germany’s Federal Financial Supervisory Authority (BaFin) and has been operational since 2003. It predominantly serves technically challenging niche markets, including petrol stations and vending machines. LAVEGO differentiates itself by developing all transaction processing systems in-house, employing cutting-edge technology to facilitate payment processing.

In addition to the core service of payment transaction clearing, LAVEGO provides a variety of additional services tailored to meet the needs of its partners and customers. This strategy positions LAVEGO as a key player in the dynamic and evolving landscape of the German payment market.

Industry Overview in Germany

The payment solutions industry in Germany is one of the most significant in Europe, characterized by a fast-growing demand for secure and efficient payment methods. With the rise of digital transactions, businesses are increasingly seeking innovative solut