Payzone sells its Swedish PSP to Nets

Payzone, a European based payment network firm consisting of multiple payment companies spanning primarily across Europe, announced it has sold its Swedish subsidiary, Payzone Nordic AB, to Pan Nordic payment solution provider Nets.

The Swedish PSP, headquartered in Stockholm, was first set up in 1989 and processes over 150 million transactions per year, making it one of the largest electronic funds transfer networks in Sweden.

“Our Swedish Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term business has been consistently growing over recent years in its core sectors of retail, hotel and restaurants. Having developed the business to this point, we are pleased to be selling to such an accomplished player in the Nordic payments market,” said CEO Mike Maloney.

According to Payzone, primary operations in Ireland, UK, Romania and Greece are not affected whatsoever by Payzone Nordic AB change of ownership to Nets.

Payzone Nordic AB generated sales around approximately SEK70m (€8m) in 2013 and employs nearly 50 people. CEO Carl-Greger Leijonhufvud will remain head of the Swedish PSP, according to a press release from Payzone.

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