The third quarter of 2017 will see the merger of B+S, a top German acquirer and provider of cashless point-of-sale payment services, and PAYONE, one of Germany’s 50 fastest-growing tech companies.
The resulting company will provide a comprehensive range of payment and related services to merchants, doing business as BS PAYONE GmbH. BS PAYONE consolidates a unique combination of payment expertise in brick-and-mortar retail as well as e-commerce in Europe. The company can look back on 30 years of experience with point-of-sale systems and 15 years in e-commerce.
BS PAYONE has some 255,000 customers in 18 countries and handles more than one billion transactions per year. The new BS PAYONE will have around 650 employees in six offices.
"Savings bank organization now has 360-degree service provider"
According to Thomas Mang, President of the Savings Bank Association of Lower Saxony and Chairman of the DSV Shareholders’ Meeting: “The new BS PAYONE GmbH will be an all-around payment service provider tht will enable the Sparkassen-Finanzgruppe to provide corporate clients with a 360-degree range of point-of-sale, e-commerce, and m-commerce services.”
Volker Goldmann, Chairman of the Management Board of Sparkasse Bochum and DSV’s Supervisory Board Chairman, believes the merger will “strengthen the role of the DSV Group as the center of excellence for payments in the Sparkassen-Finanzgruppe. The new company, which will offer one-stop shopping for payment services, will benefit both savings banks and their customers.
“This structure allows us to put into place the ideal conditions for a successful future in the card acceptance services business,” says Wilhelm Gans, Management Chairman of the DSV Group.
“BS PAYONE will be omnichannel ready and able to handle all forms of payment. We will therefore fulfill not only the expectations of savings banks and their customers, but also reinforce our market position as a payment services provider.” This in turn will set the scene for successfully attracting an investor to take a minority stake in the company. BS PAYONE plans for this partner to provide support for the acceleration of its European growth strategy.
Niklaus Santschi, Management Chairman of B+S Card Service as well as the future BS PAYONE, expects the merger to give the payment services provider a boost: “The merger of B+S Card Service and PAYONE is the next logical step in the growth strategies of both companies. Together we can offer an innovative and attractive range of services along the entire payment value chain, across all channels, and covering international as well as country-specific payment methods.
The fact that both of the founders of PAYONE, Carl Frederic Zitscher and Jan Kanieß, as well as Dr. Frank Isfort of B+S are joining the new BS PAYONE management team means we are consolidating expertise and ensuring continuity."
Carl Frederic Zitscher, Managing Director of PAYONE and soon of BS PAYONE, adds: “Both companies complement each other ideally in terms of employees, technology, and customer base. From this starting point, we will establish a European market leader in omnichannel payments.”
The closing for the transaction is pending the approval of the Federal Financial Supervisory Authority (BaFin) and the Federal Cartel Office (Bundeskartellamt).
About DSV Group (Deutscher Sparkassenverlag)
The DSV Group, consisting of Deutscher Sparkassenverlag and its subsidiaries and associated companies, generates annual sales of EUR 900 million (2016).
As a specialized solution provider, the DSV Group provides the institutions and associations of the Sparkassen-Finanzgruppe (Savings Banks Finance Group) with both analog and digital media content. Electronic forms and advisory systems, technical equipment, and bank cards round out this product range.
The spectrum of products and services is enhanced by IT-supported services, payment solutions, Web sites, and all-around agency services, including communications plans and PR events.
The company has approximately 2,150 employees, and its headquarters are located in Stuttgart-Vaihingen.
The DSV Group also operates a large number of offices in other cities across Germany.
About B+S Card Service
B+S Card Service GmbH is one of the leading card acceptance service providers across Europe. B+S supports companies who wish to offer their customers cashless payment methods with the necessary technical infrastructure and all required services.
This includes card terminals and state-of-the-art network operation services for the highly secure processing of payment data. It handles around half a million transactions per day. The B+S product portfolio includes card and self-service terminals for point-of-sale, as well as payment solutions for e-commerce and mobile payment.
B+S offers the acceptance of all popular international credit and debit cards, including Visa, Mastercard and girocard. A subsidiary of Deutscher Sparkassenverlag, B+S is a member of the Sparkassen-Finanzgruppe and is headquartered in Frankfurt am Main.
The company currently employs about 500 employees and has around 250,000 European customers in the retail, catering, travel & entertainment, petroleum, public transport and trade sectors, as well as hospitals, authorities and other service provider.
B+S generated turnover of around 300 million euros in the 2016 financial year.
PAYONE provides business solutions for comprehensive automated processing of all payments in e-commerce. The payment service provider is part of the Sparkassen-Finanzgruppe and authorized as a credit institution by the German Federal Financial Supervisory Authority.
PAYONE's service portfolio includes acceptance and processing for national and international payment methods, plus all payment services. Standardized interfaces and extensions allow simple integration into existing e-commerce and IT-systems whilst maintaining strict security standards.
PAYONE ranks amongst the 50 fastest-growing technology companies in Germany and serves over 4.000 e-commerce clients from a variety of sectors and countries, including well-known companies such as Immonet, Globetrotter Ausrüstung, HD PLUS, Fujitsu, Hawesko, Sony Music and Hallhuber. PAYONE employs a workforce of over 150.
Article sourced from Press Release by DSV Group, May 5th, 2017