Point acquires French e-commerce outfit Paybox

Source: Point

Point, one of Europe's largest providers of electronic payment solutions continues to grow by acquiring Paybox - one of the leading service providers of payment solutions in the e-commerce and card present sectors in France.

Paybox offers payment solutions for a wide range of physical and remote access systems such as merchant websites, electronic payment terminals, call centers, automatic terminals, mobile phones or PDA's. Together, the two organisations now form the strongest provider of multi-channel payment solutions in Europe.

"The payment services that Paybox brings to our expanding group enable us to offer merchants a complete range of high quality services covering all their sales channels," says Johan Tjärnberg, CEO of Point. "This will bring Point to the forefront of our industry as the only true multi-channel player in Europe." "Point and Paybox also share two important things," Tjärnberg continues. "We have the same fundamental business model. We both focus one hundred percent on the merchant and offer the advantage of working with any bank or acquirer." Paybox brings extensive e-commerce expertise that greatly benefits Point. Paybox processes approximately 10 million payment transactions per month and the majority of these e-commerce transactions come from 15,000 e-merchants linked to the company.

"We have been discussing the possibility of reaching out to a wider market for some time now," says Jacky Loos, President of Paybox Services. "The acquisition by Point makes us a part of the market leader in electronic payment services and the fastest growing payment company in Europe."

"This gives us access to new markets and, at the same time, establishes us as a much bigger player in France," Loos explains. "The financial strength of Point gives us opportunities to grow locally as well as internationally, which is a benefit to both existing and new customers."

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