Pom Acquisition: Key Details, Impact, and What Comes Next

In a significant move within the digital payments industry, Dutch fintech company Mail to Pay has acquired Belgian digital payments provider POM. This acquisition aims to enhance debt collection processes through the integration of Mail to Pay's robotic process automation functionalities into POM's services. The combined technologies are expected to optimize and personalize payment collection, benefiting both companies' customer bases.

What Is Pom?

Founded in 2014, POM specializes in credit management solutions, offering core products such as POM Invoice, POM Payment, and POM Collect. These services streamline the invoice-to-cash process, improve payment experiences, and automate debtor management. POM differentiates itself with extensive automation, AI integration, and multi-channel billing, ensuring secure and accurate payments. The company also boasts high customer satisfaction and holds certifications for security and privacy, including ISO 27001 and ISAE 3402 type 2.

Who Acquired Pom?

POM plays a pivotal role in the debtor management industry, offering solutions that optimize invoicing, payment, and debt collection processes. Key products include POM Invoice, POM Payment, and POM Collect, which streamline these processes through automation and multi-channel invoicing. POM is a leading provider in its field, serving over 2500 clients and processing more than 4.5 million payment transactions monthly. The company is recognized for its high customer satisfaction and stringent security certifications.

When Was Pom Acquired?

Mail to Pay acquired POM on December 8, 2022. This acquisition occurred during a period of increasing adoption of robotic process automation (RPA) in finance and commerce, driven by its efficiency in eliminating repetitive tasks. The integration of machine learning models was also expanding the scope of RPA, making this acquisition timely for enhancing automated debt collection and payment processes.

Why Was Pom Acquired?

• Market Expansion: The acquisition allows Mail to Pay to expand its market presence into Belgium by integrating its services with POM's existing customer base, which includes notable clients like Bolt and Bpost. This move significantly enhances Mail to Pay's footprint in the European market, positioning it as a leading provider of automated payment solutions.
• Technology Integration: The integration involves combining Mail to Pay's robotic process automation (RPA) and machine learning capabilities with POM's digital billing solutions. This includes features like QR payment codes and payment URLs, enhancing the automation and personalization of debt reminders and collections, making the process more efficient and user-friendly.
• Competitive Advantage: The merger creates a competitive advantage by offering a comprehensive suite of automated credit management and payment solutions. This combination aims to make payment collections more efficient and customer-friendly, leveraging advanced algorithms and business intelligence tools to optimize the timing and tone of debt reminders, thereby strengthening their market position against competitors.

Acquisition Terms

• Acquisition Price: The acquisition price was not publicly disclosed.
• Payment Method: The payment method was not specified in the available information.
• Key Conditions or Agreements:
  • POM's Belgian customers will gain access to Mail to Pay's functionalities for invoicing workloads.
  • The combined system will use algorithms, machine learning, and personalization to optimize debt collection.
  • Customers will have access to Mail to Pay's dashboard business intelligence tools for better financial oversight.
  • Ruby Fresh’s brand will remain intact, and POM Wonderful will integrate Ruby Fresh’s employees and physical operations.
  • The acquisition aims to enhance POM Wonderful’s supply during the North American season and increase access to arils beyond the traditional October to January season.
  • Mind2Pay will remain an independent entity within POM Group, focusing exclusively on rent collection.
  • POM and Mind2Pay will integrate their solutions to better serve the housing corporation market and explore potential expansion into other sectors and international markets.

Impact on Pom

The acquisition of POM by Mail to Pay has led to significant operational changes. POM's operations in Belgium will now integrate Mail to Pay's advanced functionalities, enhancing the automation and personalization of debt reminders. This merger aims to streamline invoicing processes and improve financial oversight through Mail to Pay's dashboard business intelligence tools. While the management structure remains largely intact, the combined entity will operate under the POM brand in Belgium, ensuring continuity for existing customers.

Product offerings have also seen notable enhancements. POM's digital billing solutions now include advanced features like QR payment codes and payment URLs, thanks to Mail to Pay's technology. These additions are expected to make debt collection more efficient and user-friendly. Employee reactions have been generally positive, with the integration promising new opportunities for growth and innovation. Customer feedback has been favorable, particularly regarding the improved efficiency in payment collections. For founders considering business transitions, tools like Sunset can assist in managing these processes compliantly, ensuring a smooth and effective transition.