Nets acquires a majority shareholding in Finnish based Paytrail Plc

Press release 03-12-2014

​Copenhagen, 3 December 2014 – Nets has acquired 80% of Paytrail Plc, a Finnish based e-commerce payment service provider (PSP). With about 4,500 merchants and more than 10,000 online stores and services in its network, Paytrail has a solid market position and a proven track record in providing e-commerce payment services. Nets is determined to see Paytrail continue to grow its business as a part of Nets' merchant services business arm, which currently offers POS and online acceptance solutions to 150,000 merchants.

Markus Laurio, CEO of Paytrail Plc, says: "We are thrilled to become part of Nets and we´re looking forward to the opportunity to combine our different strengths to create even better value for our customers. Nets' operational scale and experience with providing safe and reliable payment services will be a valuable asset in the next stage of our growth journey and will enable us to reach even more merchants with our prevalent service for the benefit of both merchants and consumers."

Bo Nilsson, CEO of Nets, adds: "We are delighted to join forces with Paytrail. Merchant Solutions as a business area is a strategic growth priority for Nets.

This acquisition demonstrates our dedication to this strategy and our commitment to invest in new, innovative services in order to shape the future of digital values." "This acquisition will significantly enhance our value offering and together with Paytrail we are now in the position to facilitate payments for all merchants, providing advanced solutions across all retail channels," says Heikki Kapanen, Nets´ country manager for Finland.

Paytrail is a licensed payment institution established in 2007 and has its headquarters in Jyväskylä, Finland. Paytrail's online payment service has been used by consumers to purchase products and services online worth over one billion euros. The company currently employs nearly 40 people, all of whom will remain in their current positions.

Since the early days of Paytrail, the CPSP functionality has been the core part of the service and main driver for Paytrail´s success. This functionality gives merchants access to all major e-commerce payment methods (e.g. card payments, direct bank payments, invoice payments) from one service provider with only one contract.

In addition, merchants receive a consolidated financial flow as the payment settlements from all payment types (including all banks) can be provided through one service provider. In addition to acting as a collection payment services provider (CPSP), Paytrail also offers a one-click check-out solution (Paytrail Account). This solution provides an easy and simple way of finalising e-commerce purchases using any device: smartphone, desktop computer or tablet. Paytrail Account stores consumers' personal details and credit card information and uses one-time PIN verification via text message for secure and quick checkout, eliminating the need to enter shipment and payment details for every purchase.

 

 

About Paytrail

 

Paytrail is a licensed payment institution established in 2007 under the name "Suomen verkkomaksut". The company employs around 40 professionals and is headquartered in Jyväskylä, Finland. Since its inception, Paytrail's online payment service has been used to purchase products and services online worth over one billion euros. Find out more at www.paytrail.com