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February 10, 2022

DNA Payments acquires UK-based Card Cutters

DNA Payments, a vertically integrated payments provider, is pushing its UK growth strategy with the acquisition of Card Cutters, a card acceptance and payment solutions provider.

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  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
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Based in Worksop, Card Cutters has operations in the UK and Ireland.

It has been operational since 2009, with a merchant base in the UK and Ireland.

It provides payment technology and merchant services to small independent retailers (SMEs) and larger multi-outlet businesses.

The deal also includes Card Cutters’ Global Card Solutions, which offers merchants with a range of card machine technology and merchant support and Card Cutters’ subsidiary in Ireland.

With this deal, Card Cutters’ product and services offering will be bolstered by aligning with DNA’s range of solutions and services.

The combined expertise and merchant base will give a fillip to DNA’s strategy to offer opportunities to new, core markets and provide payment solutions at competitive rates.

DNA Payments co-founder Arif Babayev said: “We’re delighted to welcome Card Cutters to the DNA Payments Group; our second acquisition announcement in 2022.

“Following our £100 million fundraise from Alchemy Partners last year, we continue to expand our presence in the UK and now in Ireland.

“Card Cutters’ merchants will have access to our market-leading service propositions and product set, and we’re looking forward to a great future in 2022 and beyond.”

EY offered legal transactional support to DNA Payments on the acquisition and support on the financial and tax aspects of the deal.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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