Valitor, a Fintech payment service company announced Wednesday (July 5) the acquisition of Chip & PIN Solutions, a U.K. card-based payment provider.
In a press release Valitor said that with the acquisition it will broaden the company’s direct-merchant services solutions, improving the customer-centric service for merchants in the U.K. What’s more, the company said Chip & PIN Solutions’ customers will now be able to benefit from unique merchant products such as the Mii-Promo marketing loyalty solution, which is supplied by Markadis, a Valitor-owned company, and both customer bases will benefit from a single consolidated payment provider to streamline all online, mobile and in-store payments and provide a complete payment solution.
“The acquisition of Chip & PIN Solutions is another highly strategic move for Valitor. It demonstrates our concrete commitment to become a major payments services provider for U.K. businesses. Chip & PIN Solutions has an outstanding reputation for providing high-quality service to over 7,000 customers, including some FTSE 500 brands, and together with the excellent team at Chip & PIN Solutions we look forward to strengthening our market share and competitiveness in the U.K. payment services market,” said Valitor CEO Vidar Thorkelsson in the press release. Valitor’s acquisition of Chip & PIN Solutions, whose terms were not disclosed, comes less than two months after the company completed its acquisition of International Payment Services (IPS) Ltd, the U.K.-based payment specialist. “The key to our continued success has been our emphasis on exceptional customer service and support, whilst providing customers with added value. After over a decade of hard work and sacrifices, we have grown organically to become one of the most respected businesses in our industry. With Valitor we find the same inspiration, synergies, and quality of service, and I look very much forward to our journey together here in the U.K.,” added David Maisey, founder and CEO of Chip & PIN.