Worldline Completes Acquisition of Greek Payments Firm Cardlink
- The payment infrastructure provider captures 46 percent of the Greek PoS market.
Worldline (Euronext: WLN), a leading 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 company, announced on Thursday that it has completed the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Cardlink SA, a Greek network service provider.
This acquisition came as a part of Worldline’s broader European consolidation strategy. But, it did not come as a surprise as the two companies signed an agreement of acquisition last May.
Worldline has purchased a 92.5 percent stake in Cardlink.
A Local Payments Leader
Founded in 2004, Cardlink is a well-known name in the Greek market. The company has a fleet of above 240,000 Point of Sale fleet, covering 46 percent of the local market, and manages around 500 million transactions a year, which is the market share of 53 percent merchant sales volume. It is also serving more than 10,000 online merchants.
Furthermore, Cardlink maintained an excellent relationship with Greek banks, including Alpha Bank and Eurobank, which can be considered the backbone of such payment infrastructure business.
With the completion of the acquisition, Worldline has entered the high potential Greek market that is quickly shifting from cash to card and electronic payment adoption.
The new parent company of Cardlink is now considering developing its partnerships with local acquiring banks and allowing access to Worldline’s services portfolio to other existing Greek customers.
Moreover, the official announcement detailed that Cardlink CEO George Drimiotis will remain CEO and a shareholder of the company. Furthermore, he will be responsible for overseeing the development of all Worldline’s activities in Greece.
“The acquisition of Cardlink is a significant development in our Group consolidation strategy in Europe, extending our merchant services activities towards the South of Europe,” the Worldline Chairman and CEO, Gilles Grapinet said earlier. “This transaction offers attractive development opportunities for Worldline in the coming years and a strong footprint to further expand Cardlink’s presence in Greece.”
Worldline (Euronext: WLN), a leading 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 company, announced on Thursday that it has completed the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Cardlink SA, a Greek network service provider.
This acquisition came as a part of Worldline’s broader European consolidation strategy. But, it did not come as a surprise as the two companies signed an agreement of acquisition last May.
Worldline has purchased a 92.5 percent stake in Cardlink.
A Local Payments Leader
Founded in 2004, Cardlink is a well-known name in the Greek market. The company has a fleet of above 240,000 Point of Sale fleet, covering 46 percent of the local market, and manages around 500 million transactions a year, which is the market share of 53 percent merchant sales volume. It is also serving more than 10,000 online merchants.
Furthermore, Cardlink maintained an excellent relationship with Greek banks, including Alpha Bank and Eurobank, which can be considered the backbone of such payment infrastructure business.
With the completion of the acquisition, Worldline has entered the high potential Greek market that is quickly shifting from cash to card and electronic payment adoption.
The new parent company of Cardlink is now considering developing its partnerships with local acquiring banks and allowing access to Worldline’s services portfolio to other existing Greek customers.
Moreover, the official announcement detailed that Cardlink CEO George Drimiotis will remain CEO and a shareholder of the company. Furthermore, he will be responsible for overseeing the development of all Worldline’s activities in Greece.
“The acquisition of Cardlink is a significant development in our Group consolidation strategy in Europe, extending our merchant services activities towards the South of Europe,” the Worldline Chairman and CEO, Gilles Grapinet said earlier. “This transaction offers attractive development opportunities for Worldline in the coming years and a strong footprint to further expand Cardlink’s presence in Greece.”