Nordic payments provider Nets has acquired a majority shareholding in Finland-based e-commerce payment service provider Paytrail.
Paytrail, established in 2007, currently holds 4,500 merchants and over 10,000 online stores and services within its network. Paytrail will lose none of its staff as part of the acquisition.
Its main service is its ability to be a collection payment services provider. Additionally, Paytrail offers a one click check-out solution, Paytrail Account.
Markus Laurio, chief executive of Paytrail, said: "We are thrilled to become part of Nets and we’re looking forward to the opportunity to combine our different strengths to create even better value for our customers. Nets’ operational scale and experience with providing safe and reliable payment services will be a valuable asset in the next stage of our growth journey and will enable us to reach even more merchants with our prevalent service for the benefit of both merchants and consumers."
Bo Nilsson, chief executive of Nets, added: "We are delighted to join forces with Paytrail. Merchant Solutions as a business area is a strategic growth priority for Nets. This acquisition demonstrates our dedication to this strategy and our commitment to invest in new, innovative services in order to shape the future of digital values."
This is the second acquisition of shares by Nets in recent weeks. In November, Nets purchased 957,000 shares, approximately 9.99% of shares, in DIBS Payment Services.