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.
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.