Worldline has announced the latest step in its Greek expansion by acquiring the local business of Eurobank.
Part of a joint venture formed on 30 June , the completion of the acquisition finalises the terms under which Worldline becomes an 80% stake owner of the bank’s operations in Greece.
The deal is of high importance to Worldline, as Eurobank holds a large distribution network at its disposal, processing over 200 million transactions per year and representing a payment volume of around €7 billion, making it one of the most prominent banks in Greece.
Having recently obtained payments service provider Cardlink as well, Worldline has managed to secure itself a first-row seat in the region’s drive towards innovation as it swiftly moves from cash to electronic payments adoption.
Gilles Grapinet, CEO of Worldline, said: “I am very pleased that we can today officially launch our joint-company with such a leading banking partner as Eurobank, in Greece, which is a very strategic country for us.
“With Eurobank, we ambition to offer to all Greek merchants our best-in-class payment solutions, products and expertise that will make their business grow even further, and we are proud to bring our contribution to the ambitious plans of the country and its government to accelerate digitisation of its economy.”
Business continues as usual for Worldline, supplying Eurobank’s Greek merchant portfolio of small, medium and large business clients with the company’s product suite, which includes Worldline’s Android POS, Smart POS, and various e-commerce solutions.
In combination with the bank’s branch network, card and non-card technology stack and large merchant base, plus the added power of Cardlink, Worldline hopes to “unlock the full potential of the Greek market” by offering a one-stop-shop for local merchants.
Grapinet added: “For Worldline, this second major investment in the Greek market after our recent acquisition of Cardlink in 2021, is a testimony of our trust and commitment to Greece, its economy and its dynamic retail environment and a perfect example of the execution of our pan-European consolidation strategy.”