Global Payments takes over Payone's Austrian customers

Monday 10 May 2021 15:37 CET | News

Payment service provider Global Payments has announced taking over the business of Germany-based payment platform Payone in Austria.

Global Payments is a joint venture of financial services provider Erste Group and Spain-based retail bank Caixa Bank. Global Payments and Payone offer payment terminals for retailers, primarily small and medium-sized companies (SMEs), wanting to allow their customers to make payments with credit and debit cards. According to Erste Group’s press release, Payone is withdrawing from business in Austria and selling its business for antitrust reasons.

Global Payments signed the contract to take over the company on 3 May 2021. An Erste Group representative stated that further details should be available when the transaction is completed, which is expected for the Q3 2021. The transaction has yet to be approved by the European Commission and the local regulatory authorities in Austria, and the companies will continue to operate separately until the transaction closes.

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Keywords: acquisition, payment processing, SMEs, financial services
Categories: Payments & Commerce | Payments General
Countries: Austria
This article is part of category

Payments & Commerce