Global payment services provider Worldline is to acquire a 40% stake in the Netherlands’ Online Payment Platform (OPP) for an undisclosed sum.
Founded in 2011, OPP is a Dutch online payment service provider (PSP) co-led by its founder Richard Straver and Maurice Jongmans, CEO, who between them own the remaining 60% of the company. The deal is expected to close by the end of this year.
The company focuses on digital payments for marketplaces and platforms with a specific focus in the consumer to consumer (C2C) segment.
With the investment, Worldline intends to capitalise on the changing dynamics of e-commerce and marketplaces in a post-pandemic world, which has seen a pivot to large quantities of merchants with a relatively low volume of sales, and the rise of C2C marketplaces.
On its part, OPP was looking for a global strategic partner to accelerate its growth. The investment from Worldline will allow it to expand within Worldline core European markets and capture the “fast-growing market opportunity of marketplaces and platforms”.
Worldline deputy CEO Marc-Henri Desportes says: “This [strategic investment] enables Worldline to get access to the exciting growth market of digital marketplaces and platforms via OPP’s European footprint and market leading scalable technology.”
On the investment, OPP founder Straver says: “We can leverage each other’s strengths to improve the service offering to OPP s client base, and roll it out to new geographies for new clients.”
In July, Worldline completed the acquisition of Eurobank’s merchant acquiring business in Greece.
Image and article originally from www.fintechfutures.com. Read the original article here.