DNA Payments Acquires UK Card Specialist Card Cutters

Payments provider DNA Payments has acquired Card Cutters, a card acceptance specialist, as part of its strategy to grow in the U.K., the company announced in a news release Wednesday (Feb. 9).

Based in the U.K. and Ireland, Card Cutters provides merchant services and payment technologies to small, independent retailers and larger multi-outlet businesses.

London-based DNA says the acquisition will also include Card Cutters’ Global Card Solutions, which gives merchants a range of card machine technology and merchant support, as well as Card Cutters’ subsidiary in Ireland.

“The acquisition will strengthen Card Cutters’ product and services offering by aligning with DNA’s market-leading range of niche, high-quality solutions and services,” DNA said. The combined expertise and merchant base will also build on DNA’s growth ambitions to provide unique opportunities to new, core markets and deliver cutting-edge payment solutions at very competitive rates.”

Read more: Wrap Up, Pay With Card Cutters’ Contactless Paying Scarf

Arif Babayev, co-founder of DNA, notes that this is his company’s second acquisition announcement of the year, coming on the heels of the firm’s $135 million fundraise led by Alchemy Partners.

“Card Cutters’ merchants will have access to our market-leading service propositions and product set, and we’re looking forward to a great future in 2022 and beyond,” Babayev said.

Founded by Babayev and Nurlan Zhagiparov, DNA bills itself as “one of the largest independent, fully vertically integrated omnichannel payments companies in the U.K. and EU.”

Its offerings include an in-house gateway, which services larger corporations and medium sized businesses, as well as a number of ISOs serving SMB customers. DNA says it also one of the largest Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) providers to multinational acquirers and banks.