Checkout.com snaps up Australian rival Pin Payments

By Oliver Smith on Wednesday 27 May 2020

Digital Banking

The payment giant's second acquisition of 2020 expands its reach in Australia.

Checkout.com snaps up Australian rival Pin Payments
Image source: Guillaume Pousaz/Checkout.com.

British payment processor Checkout.com is making a big Australian push with the acquisition of its local rival Pin Payments.

Terms of the deal with Pin Payments, which serves some 12,000 businesses across Australia and New Zealand, were not disclosed by Checkout.com.

Guillaume Pousaz, Checkout.com’s CEO and founder, said the Australian market is key for the group and that in Pin he’d found “an awesome team who shared a similar dedication to solving problems for businesses with innovative financial technology.”

With regards to next steps, Checkout will help Pin by improving their payment performance and ability to scale, and in turn Checkout will open up Pin’s regional expertise and engineering resource for its customers in the region.

The 14-person startup will shortly join Checkout and be split across its two existing offices in Perth and Melbourne.

In February Checkout.com made a similarly sized acquisition of French payment company ProcessOut, a startup that routes transactions to the lowest-cost provider.

Both deals come on the back of Checkout.com’s record-breaking Series A funding round of $230m in 2019, Europe’s largest fintech Series A round ever.

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