Payments processing firm RS2 Group has wrapped the acquisition of Germany-based Kalicom Liebers Zahlungssysteme to boost its direct acquiring business in Europe.
Kalicom operates commercial network for electronic, card-based payment systems in Germany.
The deal, whose financial details have not been undisclosed, adds more than 4,000 terminals and an existing merchant book to RS2’s portfolio.
Kalicom acquisition is expected to boost RS2 Group’s capabilities to sell, install and service terminals. It will also boost its capacity to process card transactions for small and mid-sized accounts in the German market.
The acquisition part of the company’s earlier announced strategy to foray into the merchant direct acquiring business.
RS2 Group said that its group COO/CFO Jens Mahlke will head the European Merchant Business activities.
Mahlke said: “We applied for Financial Institution License in order to start our own direct acquiring business starting in Europe. In this respect, the business of Kalicom is complementing our service offerings to the merchants and it is a great continuation of our strategy to be one of the leaders in global acquiring and issuing worldwide.”
The buyout of Kalicom is also expected to eliminate RS2’s reliance on third parties to deliver quality services to clients and offers its quick start into the German acquiring market.
Kalicom founder and former owner/general manager of Ralf Liebers said: “I am convinced that RS2, with its technology and global reach, is the best possible partner for the future of Kalicom and its employees.”