Shift4’s leading acquiring and payments services will cooperate with Fabrick’s open finance platform to empower merchants across Europe with end-to-end payment acceptance services and leading multi-channel market innovation.
CENTER VALLEY, PA. & MILAN ITALY – July 29, 2024 – Shift4 (NYSE: FOUR), a global leader in integrated payments and commerce technology, and Fabrick, a leading European Open Finance platform, today announced a strategic partnership to optimise payment acceptance services across Europe. This collaboration will enable merchants to leverage Fabrick’s comprehensive suite of embedded finance services across the entire payment value chain, now enhanced by Shift4, a best-in-class acquirer capable of providing advanced services and driving market innovation through a multichannel approach.
Payment acceptance capabilities rank highest among European companies’ investment priorities for the coming years, with 71% of businesses prioritising improvements in this area. However, nearly two-thirds face challenges in achieving a unified view of payments across physical and digital touchpoints. This partnership will alleviate these frustrations by enhancing interoperability for end-to-end processing.
Fabrick, as a payment institution authorised in several European countries, will leverage Shift4’s principal member license to offer card payment acceptance through its Fabrick Payment Orchestra Platform, augmenting its pre-existing payment services. The partnership will significantly expand Shift4’s presence in the European payment landscape, marking a substantial shift in the industry by enabling all corporate entities to compete in the digital payments market on equal footing with Over-the-Top platforms. Furthermore, the partnership between two focused entities who are at the forefront of technological innovation in the sector will allow client companies to access the best tools to maximise secure payment conversion while simplifying treasury processes.
Alessio Damonti, Chief Commercial Officer at Fabrick, stated: “This collaboration with Shift4 allows Fabrick to enhance our open finance platform, which now covers the entire value chain of payment services, while also addressing critical industry challenges highlighted in our Forrester research, such as the 66% of companies struggling with a unified view of payments across channels and the 64% facing interoperability issues. Furthermore, this partnership sharpens Fabrick and Shift4’s competitive edge by leveraging our combined expertise to empower merchants with the advanced tools and capabilities they need to thrive in a rapidly evolving market.”
Nick Tubb, SVP Commercial at Shift4, added, “Fabrick is one of the most well-established and trusted players in the European payments ecosystem — we couldn’t have picked a more fitting partner to bolster our presence in the region. This partnership is a testament to our commitment to levelling the payment processing playing field, and we look forward to working with Fabrick to deliver unparalleled payment services to even more European merchants.”
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About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit shift4.com.
About Fabrick
Since 2018, Fabrick has served as a focal point for continuous innovation for its clients, including businesses, fintech companies, and banks. Through an open-platform model, Fabrick simplifies the value chain for companies with easily integrable Open Finance solutions. It enables entities of any sector and size to incorporate digital financial services into their offerings with a rapid time to market, allowing them to seize new business opportunities or enhance their customers’ experience.
Fabrick has formed affiliations with innovative entities such as Codd&Date, Dpixel, Alternative Payment Ltd (JudoPay), Fabrick Solutions Spain S.L. and Fintech District – the international reference community for the industry in Italy, with over 290 associated fintech companies. Fabrick is an investee of Sella Group, Mastercard and Reale Mutua Group. Fabrick is headquartered in Italy, with offices in Milan, Turin, Biella, and Rome, and operates internationally via its subsidiaries in Madrid, Lugano and London.
To learn more, visit fabrick.com.
Shift4 Media Contact:
Nate Hirshberg
Senior Vice President, Marketing, Shift4
[email protected]
+1 610.596.4590
Fabrick Media Contact:
Tancredi Group
[email protected]
+44 203 434 2330