Fintech payment service provider Valitor has acquired UK-based card-based payment provider Chip & PIN Solutions.
The move comes less than two months after Valitor completed its acquisition of International Payment Services (IPS) Ltd, the UK based payment specialist.
The acquisition of Chip & PIN Solutions will see the broadening of Valitor’s own direct merchant services solutions, enhancing the customer-centric service for merchants in the UK. In addition, Chip & PIN Solutions’ customers will now be able to benefit from unique merchant products such as the Mii-Promo marketing loyalty solution which is supplied by Markadis, a Valitor owned company.
As a result of this acquisition, Valitor’s and Chip & PIN Solutions’ customer base will now benefit from a single consolidated payment provider to streamline all online, mobile and in-store payments and provide a complete payment solution, as well as continuing the high standards of service that Chip & PIN Solutions was founded on.
Commenting on the deal, Valitor CEO Vidar Thorkelsson said, “The acquisition of Chip & PIN Solutions is another highly strategic move for Valitor. It demonstrates our concrete commitment to become a major payments services provider for UK businesses. Chip & PIN Solutions has an outstanding reputation for providing high-quality service to over 7,000 customers including some FTSE 500 brands, and together with the excellent team at Chip & PIN Solutions we look forward to strengthening our market share and competitiveness in the UK payment services market. “
Chip & PIN Solutions was founded by CEO David Maisey in 2004. Commenting on the deal, David said, “The key to our continued success has been our emphasis on exceptional customer service and support, whilst providing customers with added value. After over a decade of hard work and sacrifices, we have grown organically to become one of the most respected businesses in our industry. With Valitor we find the same inspiration, synergies, and quality of service, and I look very much forward to our journey together here in the UK. “
The acquisition gives customers a full card payment service from an industry-leading payments house with the additional features of the Markadis Mii-Promo marketing and loyalty scheme service available to merchants. Bringing Chip & PIN Solutions into the Valitor group will extend the customer service for which both companies are renowned. The terms of the acquisition have not been released.