French fintech firm Market Pay Group has agreed to acquire Altapay, a Danish payment service provider.
Financial details of the transaction remain undisclosed, with deal completion anticipated within two months, pending Foreign Direct Investment (FDI) approval.
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Based in Copenhagen, Denmark, Altapay manages online transactions for over 400 merchants, offering approximately 30 payment methods, including alternative options like BNPL.
Its platform caters to online commerce use cases, as well as in-store payments through terminals, and supports omnichannel payment solutions.
The unified platform provided by Altapay aggregates multichannel transactions, facilitating payment data consolidation.
This streamlines merchant operations, optimising performance and conversion rates.
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By GlobalDataIn Denmark alone, Altapay processed €3.1bn in transactions in 2023, with operations also spanning Sweden, Norway, and the UK.
The company serves various sectors, including retail, digital services, tourism, and entertainment.
Altapay CEO Christian Rasmussen said: ”We are excited to join Market Pay and contribute to the success of a leading European actor in the payment industry. Our suite of solutions, omnichannel platform, and ecosystem of clients and partners bring new strengths to Market Pay in Northern European markets. At the same time, we will also benefit from the expertise of a tech company born in the retail sector “
This marks the fourth purchase by Market Pay since 2021, aimed at expanding platform growth in Europe.
The company operates in multiple European countries, including France, Italy, Spain, and several Nordic and Baltic states.
Market Pay president Frédéric Mazurier “The acquisition of Altapay represents an incredible opportunity to enhance our online payment offerings. Their team has developed a cutting-edge, robust, and reliable platform that will seamlessly complement our current solutions. Integrating their teams, expertise, and commercial strength is also a major asset in strengthening our presence in the region.”
In September 2024, Market Pay launched a new point of sale software payment solution to offer a single app compatible with both terminal and smartphone payments.
