Worldline has completed the acquisition of a 53% stake in Eastern European payments services provider GoPay.

According to the terms of the agreement, Worldline is entitled to buy the remaining stakes in GoPay in 2022.

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GoPay is an online payment services provider for small businesses (SMBs) in the Czech Republic. Last year, GoPay generated CZK7m ($3.1m) in revenue.

The company employs 45 people and over 10,000 e-shops in Czech Republic, Slovakia, Poland and Hungary accept payments with GoPay.

GoPay’s payment collecting engine caters to the needs of SMBs and offers an extensive suite of local payment methods.

GoPay founder and CEO Pavel Schwarz said: “Together with the GoPay team, we are proud to be part of the Worldline family. This will enable us to enlarge our footprint in the region even faster and further develop our products and services. I strongly believe our customers will benefit from this new partnership.”

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As part of the acquisition, GoPay will strengthen the financial position of Worldline’s Merchant Services division.

Worldline will develop its online collecting activity across Eastern Europe, and also boost its presence in the Czech Republic with Komercni Banka’s partnership.

Worldline chairman and CEO Gilles Grapinet said: “I am very happy to welcome GoPay in the Worldline Group, which will significantly expand our online payment capabilities in the fast-growing Eastern European markets and strengthen our existing relationship with Komercni Banca.”

In February 2020, Worldline agreed to buy French peer Ingenico for €7.8bn.