AnaCap acquires 60% stake in Carrefour payments platform
Carrefour is set to offload a majority stake in its digital payments platform Market Pay to AnaCap Financial Partners.
AnaCap, a European financial investment firm, will acquire 60% of retail group’s payments arm in a deal valued at around €300m.
Market Pay was developed in-house at Carrefour in 2016, expanding in the intervening years to managing 5m cards and more than a billion annual transactions. Bolstered by Carrefour’s retail dominance in Europe, the payments system operates through a unified data platform to offer a multitude of payments solutions for merchants and fintech firms.
Nassim Cherchali, Partner for M&A at AnaCap, says: “Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online.”
The firm aims to capitalise on the transition from cash to digital payments that has been accelerated by COVID-19, expanding into new markets across Europe and further penetration in ecommerce.
Market Pay in numbers:
- Established in 2016
- 1.3bn transactions handled each year
- 5m cards in use
- 45,000 payment terminals operated
- €30m in net sales expected in 2020
“Exciting new chapter”
Mazurier says the move presents “an exciting new chapter for the company in 2021 and beyond”, and aims to leverage AnaCap’s expertise and substantial investment portfolio in payments ecosystems to further develop the Market Pay platform.
The tie-up marks AnaCap’s first venture into the French market, where Carrefour is based, and follows eight similar acquisitions in the DACH region (Germany, Austria and Switzerland) as part of a buy and build strategy centred around heidelpay, a German payments business that was sold to KKR last year.
The transaction is expected to close in the first half of 2021, pending approval from regulatory and competition authorities, with Carrefour retaining a minority stake.
Tink partners with Novalnet AG for open banking payments
The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.
Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide.
According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform.
The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly.
Novalnet partnership with Tink
By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe.
The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021.
Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties.
“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants."
Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”
He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”
Image credit: Novalnet AG