#Denmark #Copenhagen #payment solutions #Market Pay #Altapay

Market Pay's Acquisition of Altapay: A Strategic Move for Scandinavian Expansion

In a significant development in the payment services industry, Market Pay Group has officially announced its agreement to acquire Altapay, a well-known payment service provider based in Copenhagen, Denmark. This acquisition marks a critical milestone for Market Pay, being their fourth acquisition since 2021 and a strategic move aimed at enhancing their presence in the Scandinavian market.

Altapay: A Leader in Payment Solutions

Altapay boasts a strong reputation in Scandinavia, serving over 400 merchants with a comprehensive suite of payment solutions tailored for various platforms — online, in-store, and omnichannel. The company's expertise lies in managing online transactions effectively, making it a trusted partner for businesses looking to optimize their payment processing. With around thirty local and international payment methods, along with innovative options like Buy Now, Pay Later (BNPL), Altapay's platform caters to a diverse array of online commerce needs.

The company also offers in-store payment solutions through modern terminals, supporting seamless commerce across different sales channels. Their unified payment platform simplifies transaction management, providing merchants with consolidated insights that facilitate better decision-making and improved conversion rates.

In 2023 alone, Altapay successfully processed transactions worth €3.1 billion, highlighting its prominence in Denmark and its operational footprint that extends to Sweden, Norway, and the UK. Their clients range from retail giants to digital services and tourism sectors, underscoring their versatility in meeting the demands of various industries.

Comments from Market Pay Executives

Frédéric Mazurier, President of Market Pay, expressed enthusiasm about the acquisition, stating, "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."

Similarly, Christian Rasmussen, CEO of Altapay, welcomed the collaboration, noting, "We are excited to partner with Market Pay, who will keep investing in our growth and development. For the benefit of our customers and partners who now want an even stronger partner to solve their payment needs and make them even more competitive and seamless."

This acquisition aligns with Market Pay's ongoing strategy to broaden and enhance its digital payment solutions across Europe. Operating in multiple countries including France, Italy, Spain, Belgium, Finland, Sweden, Norway, Lithuania, Latvia, Poland, and Denmark, Market Pay aims to accelerate the rollout of its innovative payment platform while meeting the needs of small to medium-sized businesses (SMBs) in various European markets.

Looking Ahead

The completion of the transaction is anticipated within the next couple of months, subject to necessary foreign direct investment (FDI) approvals. This acquisition not only signifies a robust collaboration between two prominent players in the payment services landscape but also sets the stage for Market Pay to amplify its operations in Northern European markets. As the payment industry continues to evolve, these strategic moves will undoubtedly position Market Pay as a formidable force within the sector, dedicated to simplifying and enhancing the payment experience for businesses across Europe.

With a workforce exceeding 320 employees across 11 countries, Market Pay is committed to processing approximately 3 billion transactions annually through a vast network of over 180,000 terminals and 5 million managed cards. Their vision centers on eliminating complexities within the payment sector and driving innovation to benefit merchants and consumers alike.

As Market Pay and Altapay join forces, the future looks promising, not only for their respective businesses but also for the merchants who will benefit from enhanced payment solutions and streamlined operations across the region.