PayModum Acquires Floid Inc. to Expand US Instant Bank Payment Services

LONDON – Global payment gateway PayModum announced on May 17, 2026, that it has acquired Floid Inc., a Delaware-incorporated entity specializing in U.S. instant bank payment infrastructure. The acquisition is aimed at strengthening PayModum’s capabilities for its merchant clients in the United States, a market traditionally dominated by credit card transactions. The deal provides PayModum, which offers a single integration point for over 150 online payment methods, with direct access to local banking rails for facilitating instant account-to-account (A2A) payments. Floid Inc. holds the direct relationships necessary to enable these types of transactions, positioning PayModum to better compete in the rapidly growing U.S. open banking and real-time payments sector. This acquisition is more than just a corporate transaction; it's a signal for small and mid-sized businesses to re-evaluate their payment infrastructure. For years, U.S. companies, particularly in e-commerce and digital services, have been heavily reliant on traditional card networks, accepting high processing fees and complex chargeback procedures as the cost of doing business. In our experience, this dependency creates significant financial drag and operational risk. The move toward direct bank payments offers a powerful alternative to lower transaction costs, reduce fraud, and accelerate cash flow. Integrating these newer payment rails, however, requires careful strategic planning to manage compliance and technical integration. This is precisely the kind of complex financial decision-making we facilitate through our outsourced CFO services. The team at C&S Finance Group LLC helps business owners analyze their payment processing costs and implement systems that directly improve their bottom line. For a strategic review of your payment systems and financial operations, contact C&S Finance Group LLC at csfinancegroup.com. In a statement regarding the acquisition, PayModum CEO Jake Dovey described the move as a “huge step forward” for the company. He noted that the deal will make PayModum a “major participant in the rapidly growing, increasingly popular market for enabling instant online bank payments across the US.” The acquisition reflects a broader industry trend where merchants are seeking more efficient and data-rich payment alternatives to legacy systems. A key driver behind the deal is the increasing demand for payment methods that also provide enhanced account information services. According to company statements, the integration of Floid’s technology will allow merchants to access supplementary data during transactions, such as the payee’s verified name, date of birth, and address. This information is critical for businesses to meet evolving regulatory and compliance obligations, including Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. “With regulation constantly evolving, it is now more important than ever for online merchants to support their business with a deeper understanding of the underlying payment information that they collect,” PayModum noted in its announcement. The company contrasted this with other payment methods that often fail to provide such detailed verification data, creating potential compliance gaps for merchants. The U.S. payments market has long been an outlier in its reliance on credit and debit cards compared to other regions where A2A payments are more common. However, that landscape is beginning to shift. Daniel Bessmert, a Local Director at Floid Inc., commented on this trend, stating, “Whilst the US is known for being a market driven by credit cards, we are seeing an increased uptake in the popularity of local bank payment.” This shift is driven by both consumer demand for faster, simpler payment experiences and merchant demand for lower costs and faster settlement times. For small and mid-sized businesses that use PayModum’s platform, the acquisition promises access to a more streamlined and potentially less expensive way to accept payments from U.S. customers. The benefits are particularly relevant for companies in sectors that PayModum targets, including e-commerce, iGaming, financial services, and digital services—industries that often face high transaction volumes, complex cross-border payments, and stringent regulatory scrutiny. By integrating Floid’s direct bank connections, PayModum can offer its clients a payment method that not only settles faster than traditional card transactions but also carries a lower risk of chargebacks. The rich data provided through the connection can also help automate customer verification processes, reducing the administrative burden on merchants. Industry observers will be watching to see how quickly and effectively PayModum integrates Floid’s infrastructure into its global platform. The move is expected to increase competitive pressure on other payment service providers to bolster their own A2A and open banking capabilities within the U.S. market.