Market Pay has officially announced its acquisition of Altapay, a Danish PSP known for its robust online transaction management.
Altapay, based in Copenhagen, has carved out a niche with its extensive merchant base, serving over 400 businesses and offering a suite of about thirty local and international payment methods, including Buy Now, Pay Later (BNPL) options.
The acquisition aims to bolster Market Pay’s offerings in the online payment sphere. Altapay’s advanced platform features capabilities that align well with Market Pay’s existing solutions, enhancing both in-store and online payment systems. With this deal, Market Pay looks to further its reach and efficiency in Scandinavia, building on Altapay’s €3.1bn transaction processing in Denmark in 2023, alongside its operations in Sweden, Norway, and the UK.
Market Pay operates across multiple European countries including France, Italy, and Spain, offering innovative payment solutions that cater to a diverse client base. Altapay, on the other hand, has specialised in integrating multichannel payment processes to improve merchant performance and customer conversion rates, also offering next-generation terminals for in-store payments.
This acquisition marks the fourth by Market Pay since 2021, underscoring its strategy to expand and enhance its payment systems across Europe. By incorporating Altapay’s technology and team, Market Pay expects to accelerate the deployment of its platforms throughout the region, ensuring a stronger presence and improved service delivery in the competitive payments industry.
Both companies cater to a variety of sectors, including retail chains, digital services, tourism, and entertainment, making this partnership a significant stride towards creating comprehensive, seamless payment solutions for a broad spectrum of businesses.
“The acquisition of Altapay represents an incredible opportunity to enhance our online payment offerings. Their team has developed a cutting-edge, robust, and reliable platform that will seamlessly complement our current solutions. Integrating their teams, expertise, and commercial strength is also a major asset in strengthening our presence in the region,” Market Pay President Frédéric Mazurier said.
“We are excited to partner with Market Pay, who will keep investing in our growth and development. For the benefit of our customers and partners who now want an even stronger partner to solve their payment needs and make them even more competitive and seamless,” added Christian Rasmussen, CEO of Altapay.
“We are excited to join Market Pay and contribute to the success of a leading European actor in the payment industry. Our suite of solutions, omnichannel platform, and ecosystem of clients and partners bring new strengths to Market Pay in Northern European markets. At the same time, we will also benefit from the expertise of a tech company born in the retail sector.”
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