Euronext-listed payment firm, Worldline has expanded its presence in the European region. The company has completed the acquisition of Axepta Italy, which is a well-known bank acquirer in the country.
Through the acquisition of an 80% stake in Axepta Italy, Worldline will be able to accelerate its growth in the country. Moreover, the payment company has established a strategic collaboration with BNL. Worldline called the recent developments an integral part of the company’s European consolidation strategy.
In October 2021, Worldline completed the acquisition of Handelsbanken’s card acquiring activities in the Nordic region. In November, the company expanded its services to meet the growing demand of the businesses in South Korea.
"Axepta Italy and the partnership with BNL are the ideal cornerstones for Worldline to expand its Merchant Services activities in one of the most attractive payment markets in Europe with significant growth and synergy opportunities. As part of the transaction, Worldline will enter into a long-term commercial partnership with BNL aiming at leveraging its strong banking network as a key commercial channel. A robust integration and development program will be implemented to further improve profitability rate through operating leverage and costs efficiency,” Worldline noted.
Last month, the company inked a partnership with Bexs Pay, a Brazilian payment firm, to introduce a cross-border remittance product for digital payments from the South American country.
Merchants
According to Worldline, the recent collaboration will facilitate merchants through innovative payment products and services. With more than 200 million acquiring transactions per year, Axepta Italy is one of the largest bank-owned acquirers in the country.
“In the continuity of Worldline’s existing partnerships with more than 17 banks and banking federations in Italy, the creation of a joint venture with BNL (BNL retaining a 20% ownership in Axepta Italy) is also designed to be an open vehicle for welcoming existing partners and other Italian banks willing to benefit from delivery and servicing excellence, combined with the scale and competitive cost structure,” the company added.
