Payzone Group sells Swedish Payment Services business to Nets

11 August 2014

Financial terms of the acquisition are not being immediately disclosed. The subsidiary company being sold is Payzone Nordic AB., a market leader in payment services customised for the retail, hotel and restaurant sectors.


Headquartered in Stockholm, Sweden, Payzone Nordic was established in 1989 and processes over 150 million transactions per year. Operating solely in the integrated payment service provider (PSP) sector, it is one of the largest electronic funds transfer networks in Sweden. Payzone Nordic generated sales of approximately SEK 70 million (€8 million) in 2013 and employs nearly 50 people. Payzone Nordic’s CEO, Carl-Greger Leijonhufvud, will remain with the company.


Nets already has a position in the point of sale (POS) market in the Nordic region and the acquisition will strengthen its position in the Swedish POS market while bringing a Nordic footprint with potential to service Payzone Nordic’s existing customer base more broadly.
The operations of Payzone in Ireland, UK, Romania and Greece are not affected by the transaction.


Mike Maloney, CEO, Payzone Group commented that the deal was a strategically significant one for Payzone’s shareholders. “Since the corporate restructuring of the group in 2010, we have been focussing on building core markets and businesses.  Our Swedish payments business has been consistently growing over recent years in its core sectors of retail, hotel and restaurants.  Having developed the business to this point, we are pleased to be selling to such an accomplished player in the Nordic payments market.”

“We will now continue to focus on growing Payzone Group’s business in other markets where we have invested significantly in technology infrastructure to facilitate the growth of payments in newer categories such as pre-paid utility and public sector payments. We are also growing the range of payments options we offer to consumers to include all virtual channels alongside our retailer network of terminals.“

FT Advisors acted as financial advisor, and Eversheds as legal advisor, to Payzone Nordic.

About Payzone
Headquartered in Ireland, Payzone Group operates one of Europe’s largest branded payments networks, delivering a wide range of payment services in four European countries including Ireland, the UK, Greece and Romania.  Over 150 million transactions are processed annually throughout the Payzone Group.  


In Ireland Payzone is the largest consumer payments network in the country with over 2,000 branded retail agents which process a variety of electronic transactions services, including mobile phone top ups, debit/credit card transactions; M50 motorway toll payments; Leap travel cards, local property tax payments, parking fees, pre-paid utility and parcel collection services.


The company employs close to 550 people across Europe approx. 100 of whom are based in its Sandyford head office in Dublin.
Payzone’s focus is on delivering leading edge payment services that drive greater efficiency for clients and increased revenues for its retail partners.
As industry leader, Payzone's technology credentials, capabilities and expertise are a particular strength of the business.

     
About Nets

Nets connects banks, businesses, merchants and consumers via an international network, which facilitates the exchange of digital payments, identities and information – called ‘digital values’.


Founded in 1968, Nets has a strong history of securely handling payments transactions. Nets’ activities include interbank clearing, terminal and PSP services, direct debit, credit transfers, e-invoicing, e-archiving, national e-identity solutions and card acquirer and issuer payment processing.


Nets operates domestic schemes and is active in card acquiring through the subsidiary Teller. Nets’ revenue in 2013 was DKK 8,686 million with a net revenue of DKK 6,727 million. Nets has 2,600 employees in Denmark, Norway, Finland, Sweden and Estonia

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Find out more at www.nets.eu


Nets media queries:
Stein-Arne Tjore, Communications Manager, +47 915 39 846, e-post:satjo@nets.eu


Payzone Group media queries:
Sheila Gahan, Wilson Hartnell Tel 01 669 0030 /087 234 2409 sheila.gahan@ogilvy.com

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