French payment solutions company Worldline has wrapped up its previously announced acquisition of a 53% stake in GoPay, a Czech Republic-based online payments provider.

Financial terms of the deal announced in April 2020 were not disclosed.

GoPay operates as an online collecting payment services provider for small and medium-sized businesses (SMB) in the Czech Republic, Slovakia, Poland, Hungary, and other parts of Central Europe. The fintech company is said to provide a vast range of local payment means and caters to over 9,000 e-shops.

Worldline expects the Czech fintech company to help in building its profile of global merchant services business by developing its online collecting capabilities in the Eastern European market.

The acquisition is also said to consolidate Worldline’s market position in the Czech Republic and its partnership with Komercni Banka. Apart from that, 45 payment experts from GoPay including its present owner Pavel Schwarz have joined Worldline, which will grow and boost its local expertise in digital go-to-market.

Gilles Grapinet – Chairman and CEO of Worldline said: “I am very happy to welcome GoPay in the Worldline Group, which will significantly expand our online payment capabilities in the fast growing Eastern European markets and strengthen our existing relationship with Komercni Banca.”

As per the terms of the deal, Worldline holds the right to acquire the remaining stake of 47% in GoPay in 2022.

Pavel Schwarz – founder and CEO of GoPay said: “Together with the GoPay team, we are proud to be part of the Worldline family. This will enable us to enlarge our footprint in the region even faster and further develop our products and services.

“I strongly believe our customers will benefit from this new partnership.”

In February 2020, Worldline signed a stock-cum-cash deal worth €7.8 billion to acquire rival French payment services firm Ingenico (Worldline acquisition of Ingenico). The deal is expected to close in the third quarter of this year.

  Czech Republic, Fintech industry news, France, Gilles Grapinet, GoPay, Pavel Schwarz, Worldline