Worldline to acquire Cardlink

Friday 28 May 2021 13:02 CET | News

Worldline has announced the signing of a bidding agreement for the acquisition of 92.5% of the share capital of Cardlink, the Greece-based Network Services Provider.

According to the company's officials, the acquisition of Cardlink comes to expand Worldline merchant services activities towards the South of Europe. With a cash penetration that remains high and a card transaction rate per capita more than twice below European countries average, the Greek market shows attractive growth opportunities with a growing addressable market driven by the shift from cash to card and electronic payment adoption. 

Founded in 2004, Cardlink is a Greek Network Services Provider (NSP) with an above 240,000 POS fleet (46% of POS transactions), managing c. 500 million of transactions a year (53% MSV market share). The company also provides more than 10,000 online merchants with strong value-added services through the Cardlink check-out offering.

Overall, the acquisition represents a opportunity for Worldline to strongly expand its merchant services activities in this attractive European market. Worldline intends to further develop the longstanding partnerships of Cardlink with key local acquiring banks which are benefitting from its leading POS acceptance capabilities, its direct access to an existing and high-quality merchants’ portfolio, while generating significant growth opportunities fueled by increasing card penetration and online capabilities.

Furthermore, a robust integration and development programme will be implemented at closing to further improve profitability rate through operating leverage and costs efficiency.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Worldline, acquisition, merchants, POS, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce