Market Pay, a French fintech company, has agreed to acquire Novelpay, a Polish paytech company, as part of its European expansion strategy. This is Market Pay’s third acquisition in less than two years, following previous purchases of dejamobile and Acoustic. Novelpay specializes in independent software vertical (ISV) solutions for payment terminals and operates in 14 European countries. The acquisition will provide Market Pay with expertise in different operating environments and compliance with critical standards. It will also allow Market Pay to internalize in-store technology and benefit from Novelpay’s distribution of PAX Technology terminals.
Facts
- Market Pay is acquiring Polish paytech Novelpay, including its French subsidiary, PAX France Novelpay.
- This is Market Pay’s third paytech acquisition in under two years.
- Novelpay, founded in 2012, specializes in ISV solutions for payment terminals and operates in 14 European countries.
- Novelpay’s products and services are used by banks/acquirers, processors, and value-added services solution providers.
- The acquisition allows Market Pay to benefit from Novelpay’s expertise in different operating environments and compliance with critical standards.
- Novelpay’s distribution of PAX Technology terminals, a leading vendor of payment terminals worldwide, is seen as an advantage.
- Market Pay aims to strengthen its market position on a pan-European scale and internalize in-store technology through acquisitions like Novelpay.
