An overview of transactions and financial implications, Merchant Acquiing acquires the OP business through our subsidiary Nets Oy for an expected total amount of DKK 224 million, consisting of an initial deposit of DKK 179 million and an expected deferred payment of approximately DKK 45 million, depending on the evolution of the activity acquired during the contractual period. The acquisition is structured in the form of an asset deal, which consists mainly of commercial contracts in Finland. The acquisition does not involve the transfer of OP employees. Nets is only licensed to enter into concession contracts in Europe. If you would like to know if you can get an agreement, please contact Nets. The merger between Nets and Concardis Payment Group 2019 was an important step on the road to continued growth in Europe to expand and improve service offerings and bring product innovation to market even faster. This will continue to help merchants across Europe meet the needs of consumers in terms of digitised and easy-to-use payment solutions. The commercial activity of the acquired company consists of about 15,000 commercial contracts in Finland. Sales contracts are distributed among wholesale and key account customers, as well as small and medium-sized businesses. “By selling the reseller acquisition business to Nets, we are ensuring that we can offer long-term competitive products to our bank customers. Purchasing distributors is an increasingly specialized sector, which requires size and investment to always be one step ahead of the market. Nets is a leading trader in the Nordic region with a strong presence in Finland, and we are confident that Nets will continue to be the right partner for the transaction and our customers” Nets today signed an agreement to acquire OP`s distributor acquisition business, which consists of approximately 15,000 commercial contracts with an underlying annual revenue of approximately DKK 37 billion of Visa and MasterCard transactions in Finland. Nets is already a well-established trader in Finland and will consolidate our position in the Merchant Services segment.
We offer our customers inter-channel payment solutions (in-store, online and mobile) and a wide range of payment methods in Europe. Our offers for distributors are put on the market by our distributor services in the Nordic region or on the European continent. If you also want to accept American Express, turn on the “Accept AmEx” button (this requires a separate agreement with Nets). For media requests: Karsten Anker Petersen, Head of Communications, on 45 44 89 78 83 or email@example.com Nets is also a buyer for Internet transactions. On credit cards such as VISA, Mastercard, American Express, etc. there are many different buyers, but when it comes to Dankort, Nets is monopolizing. This means that Nets is the only purchaser who can make payments with Dankort. If you have online store, which is present in the Danish market and you want to use thanks, you must have an agreement with Nets. Please note that Nets operates with two different types of contracts. The one that supports only Dankort and eDankort and an agreement that supports all other credit cards (international credit cards). Nets CEO Bo Nilsson said: “This is an important acquisition for our merchant services business. We are pleased to continue to develop the close collaboration between Nets and PO, and look forward to working with PO to provide great payment services to their banking customers.
The 10-year strategic partnership agreement demonstrates a strong commitment on the part of the parties and, at Nets, we will continue to innovate in this important area. A reseller contract with Nets is entered into between you as a shop (distributor) and the selected purchaser.