Nets, a market leader in the payments industry, today announces a strategic alliance with Przelewy24, a leading online payment service provider in Poland.
Following the recent acquisition of Dotpay/eCard, Nets will attain a majority stake of 51% in the consolidated Polish group that will include Przelewy24 and Dotpay/eCard. Piotr Kurczewski will continue as CEO and shareholder of Przelewy24, with 49% of the consolidated group. Andrzej Budzik will continue as CEO of Dotpay/eCard.
The two deals represent a significant entry by Nets into Poland, a country characterised by solid growth in e-commerce volumes and high growth potential through cash to digital payments conversion.
Group CEO of Nets, Bo Nilsson, says: “Przelewy24 has performed very well in recent years, achieving continued growth in volume and revenue. This strategic alliance increases our presence in the merchant services area in Poland and in combination with our acquisition of Dotpay/eCard, we aim to further strengthen our presence in Poland through consolidation and strong commercial initiatives.”
Przelewy24 has a comprehensive product suite within e-commerce. As part of Nets Group they will benefit from a broader portfolio of state-of-the-art e-commerce solutions, increased industrial scale and synergies through joint innovation.
CEO of Przelewy24, Piotr Kurczewski, comments: “With our offerings in the e-commerce area we will further strengthen our combined merchant services portfolio, and as part of the Nets Group we will be able to speed up innovation, building on our joint capabilities to the benefit of merchants, partners and consumers.”
Przelewy24 employs around 100 people and its 2018 gross revenues were more than EUR 20 million. The agreement is subject to customary approvals by the relevant Polish authorities.