Worldline Is Reportedly Set to Close in on $2.3B Sale of Terminal Business to Apollo Global Management

Worldline (Euronext: WLN), a provider of payments and transactional services, is reportedly getting ready to sell its point-of-sale terminal business to Apollo Global Management for $2.3 billion. This, according to a report from the WSJ.

A deal might be finalized within a few days as Worldline aims to move away from hardware to Cloud-powered payment services, the WSJ revealed while citing sources familiar with the matter.

In 2020, Worldline had reported a proforma revenue of €4.8 billion. However, the terminal business has been negatively impacted by Covid-19 crisis.

Recently, the firm had outlined its plans to recruit over 5000 professional staff as part of a strategic plan focused on supporting its business expansion into new markets, as well as its planned investment in the latest technology.

As reported in December 2021, APEXX, a global payments platform had announced a long-term strategic partnership on buy now pay later (BNPL) with Worldline.

As part of the strategic partnership, Worldline will enable their global e-commerce merchants to access BNPL solutions in more than 40 markets globally via APEXX’s BNPL Connect platform. Worldline will initially launch with several leading BNPL providers offering extensive coverage and will continue expanding its offer throughout 2022.

APEXX launched BNPL Connect in March 2021 to address the surging popularity of BNPL as a flexible payment method and to simplify the onboarding process of BNPL solutions for payment service providers and their merchants.

BNPL Connect allows merchants to access multiple BNPL solutions through one consolidated API, and in turn, consumers can choose from a range of different BNPL options to suit their financing preferences. This significantly reduces the time to market and cost for merchants and payment service providers in offering these services globally, the companies said.

As covered in November of last year, Worldline is supporting PSA Payment Services Austria GmbH on its journey towards becoming a smart transaction provider beyond just payments.

Via its products WL ID Center and WL Trusted Authentication as well as experience in various infrastructure initiatives, Worldline is offering the tech foundation of the new digital identity, via an app called ich.app, which PSA will introduce in the Austrian market next year.

The foundation of the ID solution, for all users, is their current ID as a client of an Austrian bank. ich.app will allow clients to identify themselves with a variety of online retailers and service providers, and in other circumstances, without having to exchange further data.

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