View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
October 30, 2017

Worldline acquires MRL Posnet

By Shruti T

Worldline, a provider of payments and transactional services, has completed the acquisition of Indian payment service provider MRL Posnet for INR6.5bn (€84m).

The transaction forms part of the European payment services company’s strategy to strengthen its operations in India, as it will reinforce its existing business with a highly complementary asset.

Chennai-based MRL Posnet was founded in 2008 and employs approximately 140 engineers in India.

The company currently processes payment transactions on behalf of 18 Indian banks through the management of 100,000 payment terminals.

The acquisition provides Worldline with a strong customer base of banks in southern India.

The combined service offerings, functionalities, reach and customer base are expected to allow Worldline to offer enhanced value propositions to existing and new clients.

The company will integrate MRL PosNet in its Merchant Services Global Business Line.

At the time of signing the agreement, Worldline CEO Gilles Grapinet said: “With the acquisition of MRL PosNet, we are significantly reinforcing our presence in the Indian market and leveraging Worldline India already successful development.

“Through this acquisition, we will intend to better support Indian banks and merchants in the remarkable development of the country towards digital payments, by enlarging our customer base in Southern India, by a low cost payment terminal sourcing adapted to the local market needs and by an efficient terminal management solution.

“Together, we are in a unique position to offer our Indian customers enhanced value propositions and to deliver the next generation of payment services for the digital commerce era. I am also extremely happy to welcome within the Worldline Group the very skilled team of MRL PosNet.”

 

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International