Market Pay snaps up Polish FinTech Novelpay to fuel growth

By Gloria Methri

Market Pay has signed an agreement for the acquisition of Polish FinTech Novelpay, including its French subsidiary PAX France Novelpay, to accelerate the development of its pan-European payments platform.

Novelpay specialises in the development of independent software vertical (“ISV”) solutions for payment terminals and associated terminal distribution. Its products and services are currently deployed in 14 European countries with customers comprising banks/acquirers, processors, and value-added services (“VAS”) solution providers.

This acquisition will enable Market Pay to further strengthen and develop its existing product offering, as well as accelerate the deployment of its unified payment platform across Europe. It will also benefit an ongoing strategy to internalise the majority of in-store technology bricks, following the successful integration of dejamobile and its softPOS technology.

Market Pay and Novelpay will work together on the development of new in-store solutions that will be offered to the former’s European customer base.

Novelpay is Market Pay’s third acquisition in less than two years, following the acquisition of payment platforms Acoustic and dejamobile.

Frédéric Mazurier, President of Market Pay, said, “This acquisition of Novelpay represents an important part of a process we started in 2021 designed to strengthen our market position on a truly pan-European scale. With more than 300 employees and more than half of whom are developers, Market Pay is heavily focused on strengthening its technological expertise for the development of payment solutions in support of its growth objectives alongside AnaCap.”

Jean-Paul Hildebrandt, Chief Executive Officer and Co-Founder of Novelpay commented, “We are delighted to join Market Pay, a development that will strongly contribute to cementing our position as a leading PAX Technology distributor in Europe, with a highly specialised software focus. We will further enhance our overall expertise as a highly-skilled one-stop shop for all acquirers and PSPs”