ING Pulls Plug On Payvision Payments Arm

AMSTERDAM, Oct 28 (Reuters) - ING Groep NV, the largest Dutch financial services firm, on Thursday said it was winding down the remaining operations of Payvision, the payments processing firm it bought for 360 million euros ($417 million) in 2018.

Last year ING sold half of Payvision's operations for a nominal 1 euro - the part of the business that included payments processing for thu mua vải minh quân sex việt gambling and pornography customers including PornHub - leaving it with less profitable online payment processing activities.

ING had already in 2020 written down 188 million euros in goodwill from the value of Payvision, thu mua vải tồn kho minh quân lừa đảo which competed against Adyen NV, France's Worldline SA and the now-defunct Wirecard of Germany.

"After a thorough evaluation of all options in the context of the rapidly evolving and increasingly competitive and capital intensive e-commerce merchant market, ING has concluded that it is not feasible to achieve its ambitions with Payvision," the company said in a statement.

A spokesperson for the bank declined to comment on whether or when the bank would take any further impairment charge for thu mua vải minh quân chát sex Payvision.

ING said it was informing remaining customers of the decision, to give them time to change providers before the business is closed by the second quarter of 2022.

($1 = 0.8630 euros) (Reporting by Toby Sterling; Editing by David Holmes)