How banks prepares for PSD2: they start aquiring payment providers
Swedbank acquires the payment provider PayEx. Through the acquisition Swedbank enters a new market and add services to meet customers’ needs of digital solutions for payments.
The market for payment solutions has undergone major changes in recent years by greatly increased on-line purchases and development of invoicing solutions. Payment Service Providers (PSP), as PayEx, has been established with the purpose to improve the purchase experience.
The acquisition creates good prerequisites to continue to develop long term and attractive payment solutions for retail businesses and its customers.
PayEx is a private owned Group comprising of a number of companies in Sweden, Norway, Denmark and Finland. PayEx offers payment solutions for internet, mobile and physical commerce and administrative services within billing, account management and debt collection. The company also offers financial services such as factoring, instalment and loans.
PayEx was founded 1972 by Max Hansson, who has owned the company since then. The company has more than 10 000 customers and approximately 500 employees in Sweden, Norway, Denmark and Finland. PayEx processes more than SEK 250 bn per year in their home markets on their customers´behalf.
The acquisition is financed with Swedbank’s internal resources and is subject to customary approvals from regulatory authorities, including the Swedish Financial Supervisory Authority and the Swedish Competition Authority.
Source: Swedbank
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
