Pan-European payments platform Market Pay is set to acquire Danish PSP AltaPay, bolstering its presence in the Scandinavian market.
AltaPay provides merchants with a unified platform to manage online, in-store, and mobile transactions. Customers benefit from access to around thirty local and international payment methods, as well as alternative payment options like Buy Now, Pay Later (BNPL). Additionally, AltaPay offers a suite of next-generation terminals for in-store acceptance.
In 2023, AltaPay processed €3.1 billion in transactions in Denmark alone. The company also operates in Sweden, Norway, and the UK, catering to a diverse clientele that includes retail chains, digital services, tourism, and entertainment sectors.
Frédéric Mazurier, president of Market Pay, commented, “The acquisition of AltaPay represents an incredible opportunity to enhance our online payment offerings. Their team has developed a cutting-edge, robust, and reliable platform that will seamlessly complement our current solutions. Integrating their teams, expertise, and commercial strength is also a major asset in strengthening our presence in the region.”
Previously the omnichannel payments division of French supermarket chain Carrefour, Market Pay was acquired by private equity fund AnaCap in 2020 for a deal valued at nearly €300 million. The company currently operates in 11 countries, employing over 320 people and managing 3 billion transactions annually through 180,000 terminals and more than 5 million managed cards.
This acquisition, the fourth for Market Pay since 2021, aligns with the firm’s broader strategy to expand and enhance its payment services, while accelerating the rollout of its platform across Europe. Market Pay is operational in France, Italy, Spain, Belgium, Finland, Sweden, Norway, Lithuania, Latvia, Poland, and Denmark.
The transaction is expected to close within the next two months, although terms have not been disclosed.