Market Pay Group, a pan-European integrated payment platform with omnichannel digital solutions with headquarters in Paris, France, signed an agreement for the acquisition of Polish fintech Novelpay, including its French subsidiary PAX France Novelpay.
The amount of the deal was not disclosed. Closing of the transaction is subject to customary antitrust approval.
The acquisition will enable Market Pay to further strengthen and develop its existing strong product offering, as well as accelerating the deployment of its unified payment platform across Europe. It will also benefit an ongoing strategy to internalise the majority of in-store technology bricks, following the integration of dejamobile and its softPOS technology. The two companies will work together on the development of new in-store solutions that will be offered to Market Pay’s European customer base. This will be supported by Novelpay’s talented product development team to bolster Market Pay’s R&D platform, thereby giving the company an extended technological expertise for its in-store offering, with the combined group now reaching over 300 employees.
Led by Jean-Paul Hildebrandt, Chief Executive Officer and Co-Founder, Novelpay is a developer of independent software vertical (“ISV”) solutions for payment terminals and associated terminal distribution. The company currently deploys its products and services in 14 European countries with customers comprising banks/acquirers, processors and value-added services (“VAS”) solution providers.
Market Pay will benefit from a number of Novelpay’s operational activities, such as:
Development of applications for payment devices with an expertise covering different operating environments (Android, Linux, RTOS). Today, Novelpay enables the functioning of many critical standards (examples: Nexo or CB6), including level three device certification;
Distribution of PAX Technology (“PAX”) terminals. PAX is a large vendor of payment terminals worldwide and a market leader in the Android point of sales (“POS”) terminals. It currently offers a large range of certified Android-based devices globally.
Led by Frédéric Mazurier, President, Market Pay provides digital end-to-end solutions to large and SME retailers through the deployment of payment solutions. Founded in 2016, the company currently employs more than 300 people in 7 countries (France, Italy, Spain, Belgium, Lithuania, Denmark and Poland) and managed 2.5 billion transactions annually, across 160,000 terminals and over 5 million managed cards.
FinSMEs
15/06/2023