Payments giant Verifone said Monday (Nov. 9) that it is buying InterCard AG, a Payment-as-a-Service provider based in Germany.
The German firm was founded in 1992, the companies said, and has businesses in both terminal sales and leasing. There are also gateway services provided in transaction routing and additional offerings in helpdesk, installation and maintenance. The two companies combined will create a point-of-sale firm with multiple channels across Payment-as-a-Service.
The terms of the deal were not disclosed, and it is also contingent upon the approval of regulators, including the German Federal Financial Supervisory Authority (BaFin) and the German Federal Cartel Office (Bundeskartellamt).
Additional information regarding the pending acquisition will come from the company’s upcoming fourth quarter fiscal year earnings call on Dec. 14.
In a statement, June Felix, president of Verifone Europe, said, “This announcement reaffirms our commitment to meeting the needs of our retail clients who are increasingly seeking new services and assistance as they grow across Europe. The acquisition of InterCard will provide retailers with access to a fuller suite of payment acceptance services across the continent.”
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In another statement, Markus Hoevekamp, general manager of Verifone Germany, said, “As the German market continues to evolve toward accepting more forms of cashless payment, Verifone anticipates growing demand from its customers for a partner capable of helping merchants and financial institutions quickly adapt, reducing the complexity of managing their payment environments and better leveraging their point-of-sale investments to engage consumers and grow sales.”
Hoevekamp went on to say, “InterCard is a long-time Verifone partner and an outstanding organization, with a strong management team that is known for delivering exceptional client service.”
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