Hyper Growth Ahead: Worldline to acquire MRL Posnet, a tech-led, Merchants Acquiring Solutions Provider
* MRL Posnet has entered into definitive agreements to be acquired by Worldline SA, India’s leading payment services company today.
* The transaction values MRL at up to € 89 million – and provides a significant extension of geographical and functional reach for Worldline Group.
* 90%+ of incremental cashless payments post demonetisation occurred through POS and with this acquisition, Worldline aims to provide enhanced solutions to the growing digital payments market in India.
* Leadership team of MRL shall continue in their existing roles to facilitate transitioning and integration with Worldline.
October 03, 2017, Mumbai: Worldline [Euronext: WLN], the European leader in the payments and transactional services industry, today announces that it has entered into a definitive agreement in India to acquire 100 percent share capital of one of the fastest growing payment platforms – MRL Posnet, a full stack, tech-led, integrated merchant acquiring solutions provider.
Founded in 2008 and headquartered in Chennai, India, MRL Posnet has 100,000 payment terminals and processes c.€ 1.13 billion worth of transactions annualized. MRL has partnered with 18 banks for Merchant Services offerings through flexible modular architecture that can easily be customized to client-specific requirements. Today, through this acquisition by Worldline, the two entities can offer payment acceptance and optimization solutions for leading banks and enterprise brands across a variety of industries including travel, retail, direct selling and digital goods. With a focus on growing the cashless payments industry in India, Worldline aims to build superior solutions that serve the changing needs of consumers.