German and Dutch card processing companies, montrada GmbH and PaySquare BV respectively, have announced that they are merging as of 1 January 2014 and continuing their operations under the name PaySquare SE.
In addition, BD-POS GmbH, a specialist in terminal logistics and maintenance currently owned by montrada, will be wholly owned by PaySquare SE.
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According to the announcement, the current Board members of montrada and PaySquare will also form the Board of Directors of PaySquare SE.
PaySquare SE processes more than 14.3bn ($19.4bn) in credit and debit transactions per annum serving 120,000 clients across nine European countries.
The new company will process 262m transactions a year and support more than 80,000 terminals.
The new company’s portfolio will include PaySquare’s additional credit card brands JCB, UnionPay, Discover and Diners Club.
With montrada operating in Germany and Poland, and PaySquare focusing on the Benelux and – for online payments – on five other countries, PaySquare SE will therefore offer a highly comprehensive range of products and services.
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By GlobalDataHarald Maurer, Managing Director of montrada said: "As one company, we will be able to serve our customers more effectively and respond more rapidly to market developments. Naturally, reliability and quality will remain our primary concerns."
Petra Gerla, Managing director of PaySquare also said: "The markets in Germany, Poland and the Benelux differ significantly from one another, which demands a different approach and a different range of products and services. By retaining a local presence in these countries, with a broader offering, we will be able to serve these markets even more effectively."
Furthermore, as the activities of montrada and PaySquare primarily complement each other, the merger will not affect any staff.
