CashFlows, a provider of merchant payment solutions, has completed its acquisition of iCheque Network, an online payments company.
iCheque Network is a disruptive payments provider, which supplies online virtual payment solutions via its Payr brand.
CashFlows said that the acquisition will broaden its product portfolio and drive its payments network of more than 1,000 customers, affecting upwards of 34,000 ATMs across Europe.
The acquisition, which has been approved by FCA, was supported by Pollen Street Capital.
CashFlows CEO Neil Graham said: "We're delighted to have agreed this transaction. We are particularly excited by the opportunities it offers both CashFlows and iCheque as we continue on our mission to maximise payments success for our customers, and also as we strive to innovate our technology and solutions to challenge established players in the financial services market."
iCheque co-founder and CFO Caerwyn Prothero said: "We are excited about joining CashFlows. Bringing our offerings together will help us to accelerate growth, provide greater levels of service and focus in the electronic payment sector and to continue delivering innovative new products and services to our customers."