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Nets Group and Concardis Payment Group merger completed
After
announcing their merger in June 2018, Nets Group and Concardis Payment Group
have finalized the consolidation in January
2019 with the driving force to create payment solutions for an easier
tomorrow.
Source: Nets
The payments industry, which manages the back-end infrastructure powering billions of transactions a day, has recently been woken up as new technology changes the way consumers make payments, prompting a wave of new start-ups and consolidation among established players.
Consolidation
of Nets Group and Concardis Payment Group creates a true European payments
champion.
The resulting industrial scale will further refine their
service offering by bringing innovation
to market faster and better meeting consumers’ needs for more digitized, easy-to-use payment solutions.
The merged
entity will be based in Denmark, where Nets is based, and will be led by Nets
CEO Bo Nilsson. Meanwhile, Robert Hoffmann will continue as Concardis Group CEO reporting directly to Nilsson. The executive arrangement
is in keeping with the decision to retain the two brands for the time being.
Increasing payment mobility with our mPOS solution
Consumers
used to swipe their credit and debit cards but now they typically “tap” them at
the point-of-sale. It won't be long before we see the convergence of two trends
that promise to make the payments process faster, easier and more convenient
than ever before with the mobile
point-of-sale system or mPOS.
mPOS
devices are expected to account for almost 25%
of POS transactions by 2023,
according to Juniper Research. This means that 1 of 4 POS transactions will be
done on a mobile POS device. The same study found that mPOS devices will also
be the driving force for increased use of payment cards in emerging markets.
Mercury Processing Services International's
mPOS is a payment
card acquiring solution which, unlike traditional EFT POS, focuses on a smart
device application.