DNA Payments, a leading independent vertically integrated payments provider, is continuing its UK growth strategy with the acquisition of Card Cutters, a card acceptance and payment solutions specialist headquartered in Worksop, with operations in the UK and Ireland.
Card Cutters has been operating since 2009 and has an impressive merchant base in the UK and Ireland. It offers the latest payment technology and merchant services to small independent retailers (SMEs) and larger multi-outlet businesses. The acquisition will also include Card Cutters' Global Card Solutions, which provides merchants with a range of card machine technology and merchant support and Card Cutters' subsidiary in Ireland.
The acquisition will strengthen Card Cutters' product and services offering by aligning with DNA's market-leading range of niche, high-quality solutions and services. The combined expertise and merchant base will also build on DNA's growth ambitions to provide unique opportunities to new, core markets and deliver cutting-edge payment solutions at very competitive rates. As a result, both companies will work together to integrate, develop, and implement new services and goals.
Arif Babayev, Co-Founder of DNA Payments, said: "We're delighted to welcome Card Cutters to the DNA Payments Group; our second acquisition announcement in 2022. Following our £100 million fundraise from Alchemy Partners last year, we continue to expand our presence in the UK and now in Ireland. Card Cutters' merchants will have access to our market-leading service propositions and product set, and we're looking forward to a great future in 2022 and beyond."
EY provided legal transactional support to DNA Payments on the acquisition and support on the financial and tax aspects of the transaction.
About Card Cutters
Card Cutters is a leading Card Acceptance and Payment Solutions Specialist in the UK and Ireland, offering the latest payments technology and merchant services available to a wide range of businesses.
About DNA Payments
DNA Payments Limited, founded by Arif Babayev and Nurlan Zhagiparov, is one of the largest independent, fully vertically integrated omnichannel payments companies in the UK and EU. DNA Payments Group includes an in-house Gateway, which services large corporates and medium-sized businesses and a number of ISOs, providing services to SME customers. It is also one of the largest PaaS and SaaS services providers to multinational Acquirers and Banks. DNA Payments currently processes over £900m a month and has over 90k terminals servicing over 60k customers across UK and EU.
With headquarters in London and several hubs across the United Kingdom, DNA Payments Limited is authorised and regulated by the Financial Conduct Authority to provide payment services under the Payment Services Regulations 2017.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220209005586/en/
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