Market Pay Expands European Footprint with Strategic Altapay Acquisition

Market Pay Expands European Footprint with Strategic Altapay Acquisition

Market Pay has made a significant move in the online payment industry by acquiring Altapay, a renowned Danish Payment Service Provider (PSP) recognized for its robust transaction management capabilities. This strategic acquisition is expected to enhance Market Pay’s offerings and expand its reach in the Scandinavian market.

About Altapay: A Leader in Payment Solutions

Based in Copenhagen, Altapay has established itself as a key player in the payment processing landscape, serving over 400 businesses. The company offers a diverse range of approximately thirty local and international payment methods, including innovative options like Buy Now, Pay Later (BNPL).

Enhancing Market Pay’s Online Payment Offerings

The acquisition is set to strengthen Market Pay’s position in the online payment sector. Altapay’s advanced platform aligns perfectly with Market Pay’s current solutions, enhancing both in-store and online payment systems. With this deal, Market Pay aims to build upon Altapay’s impressive transaction processing volume of €3.1 billion in Denmark for 2023, while also expanding its operations in Sweden, Norway, and the UK.

Market Pay’s European Expansion Strategy

Market Pay operates in several European countries, including France, Italy, and Spain, providing innovative payment solutions tailored to a diverse clientele. Altapay specializes in integrating multichannel payment processes to boost merchant performance and enhance customer conversion rates. Their next-generation terminals for in-store payments further solidify their position in the market.

Previous Acquisitions and Growth Plans

This acquisition marks the fourth by Market Pay since 2021, highlighting its strategy to expand and refine its payment systems across Europe. By integrating Altapay’s technology and team, Market Pay is poised to expedite the deployment of its platforms throughout the region, ensuring improved service delivery in a competitive industry.

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Industry Impact and Future Collaborations

Both Market Pay and Altapay serve a variety of sectors, including retail, digital services, tourism, and entertainment. This partnership represents a significant step towards creating comprehensive and seamless payment solutions for a wide array of businesses.

Market Pay President Frédéric Mazurier expressed excitement about the acquisition, stating, “The acquisition of Altapay represents an incredible opportunity to enhance our online payment offerings. Their platform will seamlessly complement our existing solutions.”

Christian Rasmussen, CEO of Altapay, shared his enthusiasm, stating, “We are excited to partner with Market Pay, who will continue to invest in our growth and development, enabling us to provide even stronger support to our customers.”

Conclusion

As Market Pay integrates Altapay’s innovative solutions, the collaboration is set to redefine online payment experiences in Northern Europe. This acquisition not only strengthens Market Pay’s market presence but also enhances its ability to meet the evolving needs of its clients.

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