Nets, an established Nordic payments firm, has reportedly decided to acquire Polskie ePłatności (PeP) in a transaction that would value the Polish merchant acquirer at around €405 million (appr. $454.3 million).
PeP’s business is focused on services that are typically required by small and medium-sized (SME) merchants. The company has reportedly installed over 125,000 point-of-sale (PoS) terminals, and is expected to record revenues of about €55 million this year.
As noted on its website, the Polish ePłatności company helps process non-cash transactions and offers innovative services for businesses, including providing support for payments with credit or debit cards and various other services that use POS terminals.
Nets’ management noted that the deal will strengthen its position in Poland’s financial sector, which is an attractive market with currently low but rapidly rising payment card adoption.
The acquisition complements recent moves by Nets in Poland’s digital commerce sector, as the company has acquired Dotpay/eCard and formed an alliance with Przelewy24, a local company that provides a payment authorization and clearance system.
Bo Nilsson, CEO at the Nets Group, stated:
“With PeP’s strength with SME merchants on card acceptance and point-of-sales terminals, this deal has a convincing strategic fit, completing our offering to merchants in Poland.”
As mentioned on Nets’ official website, the company processes billions of transactions each year, and is reportedly among “the top payment processors” in Europe.
The company notes:
“We keep a tight focus on making it even easier and more intuitive for our customers to handle digital payments and related services. This has made us a trusted partner to more than 700,000 merchant outlets, including 140,000 online merchant outlets, more than 260,000 enterprises and over 250 banks across Europe.”