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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.
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 merger creates a business with approximately €500 million of EBITDA and €1.3 billion of net revenue.
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. When downloaded from the application store, it runs the merchant’s smartphone or tablet. Built around the Ingenico mPOS device, our solution is 100% mobile and enables simple internet connectivity.
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