merger
Pan-European payments processor Equens and Italy-based payments
processor Seceti have mooted the formation of a new joint company
under Equens’s holding structure, a move that would create Europe’s
largest payments processor by volume.
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In total, the partners would process 8.7 billion payments and
switch 3 billion POS and ATM transactions annually, a volume equal
to 12 percent of all eurozone transactions.
Equens’s contribution to the total would be 7 billion payments and
2 billion POS and ATM transactions. Equens was formed in September
2006, following the merger of payments processors Interpay in the
Netherlands and Transaktionsinstitut in Germany.
Netherlands Banks own 65 percent of Equens, and DZ Bank in Germany
and KBC Bank in Belgium own a combined 35 percent. Seceti is a
wholly owned unit of ICBPI Group, an Italian holding company
providing services to banks, insurers and other financial
organisations. The proposed merger will be subject to a due
diligence exercise due to start during the next few months.
If all goes well, Equens and Seceti expect an agreement to be
finalised in mid-2008.
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By GlobalDataSuccess appears to be in little doubt. “Europe is a crucial growth
area for Seceti and we are committed to develop our business in
strategic co-operation with Equens,” said ICBPI’s chairman,
Giovanni De Censi.
In a similar vein, Equens chairman Michael Steinbach said: “The
intended co-operation with Seceti is an important next step forward
in our strategy to become one of the leading payment processors in
Europe.”
