Polish payment firms Dotpay, eCard merge
Dotpay and eCard have decided to merge their operations to emerge as a future leader of payment services in Poland.
The combined entity is expected to strengthen its presence in Central and Eastern Europe.
MCI.EuroVentures fund manager and president of private equity managers Cezary Smorszczewski said: “Legally speaking, eCard will be the company taking over Dotpay, but during the integration process both companies will be treated as equal partners so that the knowledge and competence of their staff can be used to the maximum, and to create a platform based on the greatest advantages of the existing companies.
“The integration is planned to be completed in the first quarter of 2017. Both companies will remain separate legal entities.”
eCard is engaged in the market of e-commerce card transactions, while Dotpay is a settlement agent in the Polish market, focusing on fast transfers for e-commerce.
The merger is expected to create a universal platform that will offer a range of payment services, including card transactions, electronic transfers and mobile payments, for the e-commerce sector.
Furthermore, it will add a range of new products and services, such as crediting purchases, Big Data tools to analyse consumer behaviour, as well as modern payment and logistics solutions.
Dotpay president Andrzej Budzik said: “To conclude, the integration means shared objectives, easier transfer of experience and best practices between both teams, as well as a technological leap.
“We will extend our product portfolio, enhance the quality of our services and secure the development in the most promising areas of e-commerce and m-commerce.”