Worldline, a global leader in payment services, announces having completed the acquisition of Banco Desio’s merchant acquiring activities and the set-up of a commercial partnership aiming to leverage Banco Desio’s banking network in order to distribute Worldline’s payment products and services to merchant customers of the bank in Italy.
Latest Fintech Interview: Global Fintech Interview with Jyotirmoy Chakravorty, Founder at Ubona Technologies
Banco Desio Group is an important Italian banking group with a strong local approach delivered through a network of more than 280 branches. The banking group was looking for a partner to acquire, operate and develop its merchant acquiring portfolio which delivers payment solutions to c. 15 thousand merchants generating c. 40 million transactions per year, representing c. € 2.0 billion of MSV. It also manages the marketing and distribution of more than 19 thousand POS to the merchants within the bank’s network.
Read More About Fintech Interview: Global Fintech Interview with Casper Rasmussen, President at MACH Alliance
Banco Desio merchant acquiring activities will be combined within Worldline’s MS Italy joint venture created following the acquisition of Axepta Italy early 2022 owned at 80% by Worldline. As part of the transaction, Worldline also enters a long-term commercial partnership with Banco Desio aiming to leverage its strong banking network as a key commercial channel in order to distribute Worldline’s best-in-class payment product and services to merchants.
Key items of the transaction
- Worldline to acquire Banco Desio’s merchant acquiring activities through the Worldline MS Italia joint venture for a price of € 80 million corresponding to Worldline ownership in the JV;
- Additional annual revenue of c. € 15 million in year one with expected double-digit organic growth in the coming years;
- OMDA margin expected above 30% at closing.
Browse The Complete Interview About Fintech : Global Fintech Interview with Richard Smith, Chairman at FSC and Co-Founder at Finiac
[To share your insights with us, please write to sghosh@martechseries.com]
