Market Pay offers AltaPay to consolidate its European position

Market Pay, the European payment platform originally designed to meet the challenges of Carrefour's omnichannel trade, has just officially signed its fourth external growth operation. This transaction now concerns the acquisition of a leader in payment services in Scandinavia, AltaPay. It allows Market Pay to continue its expansion in Europe.

FACTS

• Market Pay now offers a new omnichannel payment platform that offers its services to traders. Based in Copenhagen, Denmark, AltaPay is a payment service provider (PSP) that allows Market Pay to further open its horizons in the Scandinavian market.

• New synergies, growth opportunities and consolidation of European positions are key to this new rapprochement.

• AltaPay offers some 30 local and international means of payment as well as BNPL, subscription or link payment options. In addition to the online payment that remains its specialty, AltaPay also offers to support in-store payment via latest generation terminals.

• Subject to regulatory approval, the transaction must finally be closed within the next two months.

ISSUES

• Gaining new market shares: AltaPay handled a volume of transactions of 3.1 billion euros via its platform on the Danish market alone in 2023. It also covers Swedish, Norwegian and English markets and thus represents a new growth channel for Market Pay.

• Continue expansion Market Pay has been working on its expansion since 2021. The European payment platform has achieved the acquisition of three other companies since then, not only to expand its territory but also to integrate external solutions and maintain its status as an innovative player in the payment market.

• Consolidate position : This new partnership is presented as a way for Market Pay to better cover the Nordic markets and more broadly meet the needs of SME traders in all European payment markets. Market Pay now operates in France, Italy, Spain, Belgium, Finland, Sweden, Norway, Lithuania, Latvia, Poland and Denmark.

PERSPECTIVE

• AltaPay is now joining the flagship of companies already purchased by Market Pay in the past, namely:
  • Acoustic Payments, a payment platform previously owned by the American company eponymous and operating across 90 countries. This transaction represented a first acquisition for Market Pay after the assignment of 60% of Carrefour's shares in the European financial services investment fund AnaCap Financial Partners.
  • Dejamobile, to strengthen its technology teams.
  • Novelpay, specialist in independent vertical software solutions (ISV) for the distribution of payment terminals and associated terminals.

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