Nordic payments group Nets has acquired online payments service provider Dotpay/eCard, helping it to move into the Poland market.
The deal was worth €73m and will see Nets purchase the company from the former holder MCI Capital, a Polish private equity firm.
This acquisition will give Nets access to the Poland market, while Dotpay/eCard customers will benefit from a broader selection of e-commerce solutions.
As part of the transaction, current Dotpay/eCard CEO Andrzej Budzik will continue in the position and will report to Nets head of merchant services Asger Hattel. The brands of Dotpay and eCard will remain unchanged.
Dotpay and eCard are Polish payment companies that joined to create a single solution for e-payment services in the country. The pair combined its licensed card acquirer and payment processing services to help more than 30,000 merchants in e-payments.
Dotpay offers local payments and PSP services, online bank transfers, mobile payments and a single API reconciliation for merchants and payment providers. eCard is a licensed card acquirer, and also supplies POS and mPOS terminals, multiple currency acceptance, and card payments processing.
The company has around 100 employees and its expected gross revenues for 2018 are €19m.
Dotpay/eCard CEO Andrzej Budzik, said, “With our offerings in the eCommerce area we will further strengthen our combined portfolio within merchant services, and, as part of the Nets Group, we will be able to speed up innovation building on our joint capabilities to the benefit of merchants and consumers.”
Nets is a partner to more than 300,000 merchants, including 30,000 online merchants, more than 240,000 enterprises and over 240 banks across the Nordic and Baltic regions.
Its services for merchants include Storebox, the digital receipt and loyalty solution, an option to tailor offerings to their customers, its MyPayment App that gives the user relevant data and insights about their customers, and Dynamic Currency Conversion (DCC) that lets merchants’ customers pay in their own currency when travelling abroad.
The company has been very active in the market over the past year. Earlier in the month, the company released plans of a merger with German peer Concardis, in a $6bn transaction.
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