Payments company Payzone has sold the Swedish part of its business, Payzone Nordic AB, to Nets, a Pan-Nordic payment transaction service provider.
Payzone is one of the largest payment companies in Europe and is headquartered in Dublin, Ireland. Payzone terminals are installed in retail outlets, allowing customers to complete a range of electronic transactions, from bill payment to mobile phone and travel-card top-ups and the payment of road tolls.
Payzone Nordic AB offers payment services for the retail, hotel and restaurant sectors. Nets is already well established in the Nordic region, and this acquisition will further strengthen its position.
Payzone CEO Mike Maloney said, “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 prepaid 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.”
Payzone's operations in Ireland, the UK, Romania and Greece are not affected by the sale.
© 2014 European Supermarket Magazine – Europe’s grocery retail magazine, for all your breaking supermarket, convenience-store and FMCG news. Article written by Nicole Gernon.
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