Danish payments firm Inpay has acquired local postal payments network Eurogiro for an undisclosed sum.
Eurogiro was set up in 1993 by 14 postal organisations in Europe. The firm has operations in over 55 countries, facilitating cross-border payments for postal organisations, banks and other financial services providers through a global infrastructure.
Post acquisition, Eurogiro will maintain its operational independence and will also retain its postal brand. At the same time, it will transform into a global open platform.
Inpay CEO and founder Jacob Tackmann Thomsen called Eurogiro a “very strong strategic fit” for the firm.
“Inpay is extremely committed to ensuring the continuity and growth of Eurogiro and to bringing innovative products and services to its members,” Thomsen noted.
Eurogiro CEO Michel Stuijt added: “Inpay has a great track record in offering cross-border payment services and solutions to financial institutions. I am very excited to bring these benefits to all our members and place them in pole position for the future developments in the financial industry.”