Pan-European payments platform Market Pay is to acquire Danish PSP AltaPay, strengthening its presence in the Scandiavian market.
AltaPay offers merchants a unified platform to manage online, in-store and mobile transactions.. Online merchant customers gain access to a portfolio of around thirty local and international payment methods, as well as alternative payment options such as BNPL, supplemented by a suite of next-generation terminals for instore acceptance.
In 2023, in Denmark alone, AltaPay processed €3.1 billion in transactions through its platform. The firm also operates in Sweden, Norway, and the UK, serving a diverse range of businesses, including retail chains, digital services, tourism, and entertainment.
Frédéric Mazurier, president of Market Pay, says: "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."
Formerly the omnichannel payments arm of french supermarket chain Carrefour, Market Pay was acquired by private equity fund AnaCap in 2020 in a deal valued at close to €300 million.
The firm currently employs over 320 people in 11 countries and manages 3 billion transactions a year on 180,000 terminals and over 5 million managed cards.
This acquisition - its fourth since 2021 - is part of Market Pay’s broader strategy to expand and enhance its payment services while accelerating the rollout of its platform across Europe.
Market Pay is already operational in France, Italy, Spain, Belgium, Finland, Sweden, Norway, Lithuania, Latvia, Poland, and Denmark.
Closing of the transaction is expected within the next two months. Terms were not disclosed.