Online payment firm acquires processor in £12m deal

UK e-payment firm PayPoint has acquired online payment processing services SecPay in a £12m deal.

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UK e-payment firm PayPoint has acquired online payment processing services SecPay in a £12m deal.

SecPay processes credit and debit card payments for goods and services bought over the internet, handling secure capture, authorisation and settlement.

PayPoint said the acquisition would complement its Metacharge business, acquired in November, which provides payment authorisation, settlement and risk management services.

Dominic Taylor, chief executive of PayPoint, said SecPay would enhance the business's position in the rapidly growing internet payments market: "We now have a full range of payment processing services to offer internet merchants and a significantly larger merchant base."

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