Euronet Worldwide completes acquisition of the Piraeus Bank Merchant Acquiring

Thursday 17 March 2022 12:14 CET | News

Global fintech solutions and payment provider Euronet Worldwide has announced it completed the purchase of the Piraeus Bank Merchant Acquiring (PMBA) of Piraeus Bank in Greece.

Euronet’s purchase consists of around 205,000 POS terminals at over 170,000 merchants across Greece, as well as the bank’s online merchant acquiring business. The in-store acquiring business is about 20% of Greece’s market, with PBMA’s online merchant acquiring representing approximately 40% of the total online and digital transactions conducted in the country.

Part of the deal also stipulates a negotiated agreement for a long-term strategic partnership with Piraeus Bank for collaborative product distribution. The bank and its over 400 branches throughout Greece will support Euronet with operational and commercial services, while receiving commissions for merchant acquiring referrals. 

The completion of the acquisition follows a long series of partnership agreements dating back to the beginning of the 2000s, with the new agreement being renewed for another 20 years.

Euronet pledges to offer a series of digital payment solutions to Greek merchants, aside from the preferred cash-based operations, including QR codes and tokenised payment methods through digital wallets.

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Keywords: online banking, partnership, acquisition, QR payments, digital wallet, POS
Categories: Banking & Fintech
Countries: Greece
This article is part of category

Banking & Fintech

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