Payment technology firm Verifone has agreed to acquire InterCard, a payment as a service provider in Germany. Financial terms of the transaction have not been disclosed.
The deal is subject to the approval of the German Federal Financial Supervisory Authority (BaFin) and the German Federal Cartel Office (Bundeskartellamt).
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Verifone Europe president June Felix said that the acquisition will provide retailers with access to a complete suite of payment acceptance services across the continent.
"This announcement reaffirms our commitment to meeting the needs of our retail clients who are increasingly seeking new services and assistance as they grow across Europe," Felix added.
InterCard CEO Kai Adolph said: "Together with Verifone, InterCard’s customers will now benefit from further improvements to our service offering and by future innovation."
Verifone Germany general manager Markus Hoevekamp said: "As the German market continues to evolve toward accepting more forms of cashless payment, Verifone anticipates growing demand from its customers for a partner capable of helping merchants and financial institutions quickly adapt, reducing the complexity of managing their payment environments, and better leveraging their point of sale investments to engage consumers and grow sales."
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