Nordic fintechs Nets & Prezelewy24’s alliance is about to become a reality, post the approval from necessary regulatory authorities. The alliance furthers the creation of the joint company P24 Dot Card which has been formed by the combination of Prezelewy24 and Dotpay/eCard (both acquired by Nets).

Bo Nilsson, CEO of the Nets Group, says: “With the formation of this new group of companies, we further drive our group’s growth and strengthen its position in Europe and specifically Poland. By joining forces, the single brands Dotpay, eCard and Przelewy24 will benefit from increased industrial scale and faster time to market. I am looking forward to advancing our businesses and to strengthening our presence in Poland.”

P24 DotCard is a Polish online payments company with Nets being the majority shareholder.

The new arrangements will see Piotr Kurczewski, holding 49% stock of the combined company P24 Dotcard, retain his role as CEO of Przelewy24 and reporting to Robert Hoffmann, Chairman of the Supervisory Board, CEO of Concardis and designated Head of Merchant Services of the Nets Group.

Piotr Kurczewski, CEO of Przelewy24, says: “With our joint offerings in the e-commerce area, we will further strengthen our combined portfolio and, as part of the Nets Group, we will be able to speed up innovation building on our joint capabilities to the benefit of our customers.”

“The new set-up is great news for our Polish customers. P24 DotCard will still be a local Polish player but now with a stronger position, benefitting from the experience and knowledge of Nets as a leading pan-European payment provider,” says Andrzej Budzik, CEO of P24 DotCard and CEO of Dotpay/eCard. Andrzej Budzik reports directly to Robert Hoffmann.

by Megha Bhattacharya
Market Analyst at IBS Intelligence