Swedish payments group expands through acquisition in Asia
August 07 2015
The Swedish payments group Bambora continues its international expansion through the acquisition of the Australian-owned payments company IP Payments. IP Payments provides innovative payment solutions that facilitate e-commerce and mobile commerce for businesses and shops through unique cloud-based services. The acquisition is part of Bambora's expansion in the Asia Pacific region and an opportunity for the payments group to strengthen its offering in e-commerce.
IP Payments is the second acquisition for Bambora in the Asia Pacific region after Keycorp which was acquired in May 2014.
"The Australian and New Zealand payment markets share key similarities to Bambora's Northern European home, which make this region particularly attractive to the group. The market leading online capabilities of IP Payments coupled with Keycorp's multi-vendor payment services will see Bambora take a strong hold across in-store, on-line and the emerging mobile payment channels," says Johan Tjärnberg, Chief Executive Officer Bambora Group.
IP Payments has quickly established itself as a leading provider of innovative payment solutions that simplifying e-commerce and let retailers grow their digital business in Australia.
For the Nordic market, means Bambora's acquisition of IP Payments to further strengthen its offer in e- and mobile-commerce, which helps small and large retailers to develop their digital business, both online and mobile.
About IP Payments
IP Payments was founded in 2004 and delivers cloud-based payment solutions for online trading such as payment gateways, PCI compliance and tokenization, accounts receivable automation and recurring bill payments solutions.
Bambora is owned by Nordic Capital Fund VIII and consists of a consolidation of the companies Samport, MPS, ePay, DK Online, Keycorp, Euroline and IP Payments, which together handle over 3 billion transactions, of which about 50 percent are online. This makes Bambora the largest in Sweden in payment transactions online. Bambora has over 450 employees in five countries.