Market Pay acquires Polish paytech Novelpay in European expansion push
France-based Market Pay has signed an agreement to acquire Polish paytech Novelpay, including its French subsidiary, PAX France Novelpay.
Founded in 2012, Novelpay specialises in the development of independent software vertical (ISV) solutions for payment terminals and associated terminal distribution.
It currently deploys its products and services in 14 European countries with customers comprising banks/acquirers, processors and value-added services solution providers.
Market Pay says it will benefit from Novelpay’s expertise in different operating environments (Android, Linux, RTOS) and its compliance with critical standards (e.g. Nexo, CB6), including level three device certification.
Novelpay’s distribution of PAX Technology terminals – the second largest vendor of payment terminals worldwide and a specialist in the Android point-of-sale (POS) terminals – is also an advantage, according to Market Pay.
The bolt-on acquisition will also “benefit an ongoing strategy to internalise the majority of in-store technology bricks”, it adds, following the earlier purchase and integration of dejamobile and its softPOS technology.
The acquisitive Market Pay also bought payment platform Acoustic in September 2021.
The shopping spree commenced following the investment in April 2021 by private equity firm AnaCap.
“The acquisition of Novelpay represents an important part of a process we started in 2021 designed to strengthen our market position on a truly pan-European scale,” says Frédéric Mazurier, president of Market Pay.
“With more than 300 employees and more than half of whom are developers, Market Pay is heavily focused on strengthening its technological expertise for the development of payment solutions in support of its growth objectives alongside AnaCap.”
Market Pay offers an integrated payment platform with omnichannel digital solutions and claims to be “the only European fintech actor in the payment industry to manage the entire value chain, leveraging on its background in the retail sector”.
Market Pay caters to large and SME retailers. French retail giant Carrefour is a historical shareholder.
Founded in 2016, it now has staff in seven countries (France, Italy, Spain, Belgium, Lithuania, Denmark, and Poland) and manages 2.5 billion transactions annually, across 160,000 terminals and over five million managed cards.