FinTech business Kalixa has announced it has acquired PXP Solutions, a privately-owned company in the card payment processing sector.
The acquisition reinforces Kalixa’s ability to offer a broad range of payment options contained in a single eco-system to every sector of the market. Based on their independent volumes from 2013, the combined business processed total transaction volume worth more than EUR10BN. However, financial terms of the acquisition are not being disclosed.
“With the acquisition of PXP, we’ve created a world-class payments company with an unrivalled portfolio across the entire payments value chain,” said Ed Chandler, Kalixa’s CEO. “Kalixa now has the scale and breadth of services, as well as the expertise and insight, to disrupt the global payments market and deliver a significant amount of added value to our merchants. We are focused on introducing Kalixa Pro and Kalixa Pay services to PXP’s extensive portfolio of merchants across 27 countries and in the process diversify into new sectors such as retail, travel and leisure, and financial services.”
PXP’s former CEO, Ritz Steytler added: “The payment industry has a reputation for being complex, expensive and inflexible, while adding little value to merchants and consumers alike. As a result of joining together with Kalixa, we can provide merchants of all sizes with one partner, one contract, and one service on a single, proven and fully integrated payments platform.”
There’s more signs of consolidation in the crowded European payments space with news that Stockholm-based iZettle is buying a company called intelligentpos.
MasterCard has bought Vocalink for £700m ($920m) in a deal that has been rumoured for months.
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