concardis payment group & nets: payment giants merging
Nets A/S and Concardis Payment Group have recently announced at Money 20/20 that the two companies will join forces to form a leading European payments player. The merger is expected to be finalized in the fourth quarter of the year.
The newly-formed Group aims at further refining its service offering, bringing innovation to market faster, empowering merchants and focusing on meeting consumers’ needs to a greater degree for more digitalized, easy-to-use payment solutions.
The resulting industrial scale will enable further investments in innovation and service improvements for merchants, enterprises, and bank customers, allowing the Group to reinforce its leading position in the European payments market.
Nets Group CEO Bo Nilsson will lead the combined group, but the two firms will retain their respective brands, along with Mercury Processing Services International which is a part of Concardis Payment Group, and Robert Hoffmann will continue to head Concardis Payment Group. The combined group's headquarters will be in Ballerup, Denmark.
Bo Nilsson, Nets group CEO
“We want to shape the ongoing consolidation in the European payments industry and further drive our pan-European expansion. Germany offers attractive growth potential due to market size, consumer spending and the fact that around 75 percent of all payment transactions are still cash-based.”
Robert Hoffman, Concardis Payment Group CEO
"Combining our product knowledge and technological capabilities will allow us to go to market even quicker with state-of-the-art and customer-friendly products, underlining our joint ambition to be at the forefront of innovation."
Nets is a Nordic-based payment service provider with more than 50 years of experience in the payment eco-system. Although headquartered in Ballerup, Denmark, the company has offices in four more countries: Norway, Finland, Sweden, and Estonia.
Handling billions of transactions annually, Nets is among the top payment processors in Europe and keeps a tight focus on making it even easier and more intuitive for their customers to handle digital payments and related services.
This has made Nets a trusted partner to more than 300,000 merchants, including 30,000 online merchants, more than 240,000 enterprises and over 240 banks across the Nordic and Baltic regions.
The Nordics have led the way in the development of digital payments and related services and is the most digitized region in Europe. Nets has played a key role in this development by shaping a new digital reality based on innovation, stability and security.
About Concardis Payment Group
Concardis Payment Group is a leading provider of digital payment solutions with 1,000 staff members and customers in Germany, Austria, Switzerland and South-East Europe.
They empower merchants and service providers to benefit from payments and business digitization.
Whether it is seamless payments at stationary points of sale, customizable solutions for mobile and e-commerce or value-adding services: their innovative products and services minimize complexity and make payments easy to improve customer experience.