Visa To Buy TrialPay For Undisclosed Amount

Visa Inc V announced Friday that it has reached an agreement to acquire privately-owned TrialPay.

TrialPay "offers platform that connects merchants with millions of consumers through targeted promotion. As a payments technology partner to merchants globally, Visa will integrate TrialPay into its product portfolio as a simple, cost-effective way to help merchants acquire customers, drive traffic, and increase sales by reaching Visa cardholders with targeted offers."

With this move, Visa intends to attract new merchants and increase loyalty among existing customers. The financial terms of the deal were not disclosed, but the purchase is expected to be completed in Visa's fiscal third quarter 2015.

Ramon Martin, Senior Vice President at Visa's Merchant Sales and Solutions segment said that the acquisition aligns with the company's strategy "to work more closely with merchants, developing solutions that help them to grow their businesses and build stronger customer relationships (…) TrialPay will strengthen our [Visa's] loyalty and offers platform, which we expect to become a strategic and competitive differentiator that can help merchants build customer loyalty and increase sales in both the digital and physical retail environments."

Shares of Visa traded recently at $272.57, down 0.4 percent.