The deal is aimed at incorporating the Arlington-based fintech’s technology into the bank’s existing offering, and while financials were not disclosed, Fifth Third said that its embedded payments business was growing at double-digits and expected to reach over $130m this year.
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Regional bank Fifth Third Bancorp acquires embedded payments firm Rize Money
“Rize Money enhances our existing embedded payments offerings and positions us to meet our client’s ever-changing needs,” Bridgit Chayt, head of wholesale payments at Fifth Third Bank said.
