Thursday , March 21, 2019

EVO Payments Adds Another European Payment Company

EVO Payments Inc. continues its European expansion with the acquisition of Way2Pay, an Ireland-based payment gateway.

Announced Monday, the deal gives the Melville, N.Y.-based company entry to integrated payments for schools and clubs in Ireland and the United Kingdom. Terms were not disclosed.

“We see significant value in expanding Way2Pay across the EVO ecosystem and bringing our payment gateway offering to new markets through EVO’s broad distribution channels and technology platforms,” John O’Gorman, Way2Pay chief executive, said in a statement. “The ability to extend our reach and support of schools, clubs, and other organizations in new geographies will be greatly enhanced as we join the EVO family.”

In October, EVO acquired ClearONE, a point-of-sale payments platform based in Madrid, Spain, with more than 10,000 merchants. And in December it announced a deal that sees the payment application from the eService EVO subsidiary installed on mobile devices from POSNET sp. Z o.o., a Poland-based payments provider.

EVO, which became a publicly-traded company in 2018, said in its third-quarter 2018 earnings report it has more than 550,000 North American and European merchants in its portfolio. EVO is expected to announce its 2018 fourth-quarter results Wednesday.

It processed far more transactions—56 million—in Europe in the third quarter than in North America, 24 million, though its North America revenue, at $79.5 million, outpaced that of Europe, $65.3 million.

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