Intended partnership will create leading payment processor in Europe
Frankfurt/ Utrecht - 15 February 2006. Interpay Nederland B.V., payment processor based in the Netherlands, and Transaktionsinstitut für Zahlungsverkehrsdienstleistungen AG (Transaktionsinstitut), payment processor in Germany, today announced that they have signed a Memorandum of Understanding (MoU) to establish a merger. With the signing of this MoU Interpay and Transaktionsinstitut will become the first European full-service payment processor in a consolidating payments market.
The intended partnership will be an important contributor and driving force towards the realisation of the Single Euro Payments Area (SEPA). The combined volume of the partnership will account for the processing and clearing of around 6.6 billion transactions per year, leading to a combined market share of the new entity in the Euro zone of over 10 per cent.