MRL Posnet Private

* MRL Posnet has entered into definitive agreements to be acquired by Worldline SA, India's leading payment services company today. * The transaction values MRL at up to 89 million - and provides a significant extension of geographical and functional reach for Worldline Group. * 90%+ of incremental cashless payments post demonetisation occurred thr... ough POS and with this acquisition, Worldline aims to provide enhanced solutions to the growing digital payments market in India. * Leadership team of MRL shall continue in their existing roles to facilitate transitioning and integration with Worldline. October 03, 2017, Mumbai: Worldline [Euronext: WLN], the European leader in the payments and transactional services industry, today announces that it has entered into a definitive agreement in India to acquire 100 percent share capital of one of the fastest growing payment platforms - MRL Posnet, a full stack, tech-led, integrated merchant acquiring solutions provider. Founded in 2008 and headquartered in Chennai, India, MRL Posnet has 100,000 payment terminals and processes c. 1.13 billion worth of transactions annualized. MRL has partnered with 18 banks for Merchant Services offerings through flexible modular architecture that can easily be customized to client-specific requirements. Today, through this acquisition by Worldline, the two entities can offer payment acceptance and optimization solutions for leading banks and enterprise brands across a variety of industries including travel, retail, direct selling and digital goods. With a focus on growing the cashless payments industry in India, Worldline aims to build superior solutions that serve the changing needs of consumers. Deepak Chandnani, CEO of Worldline, South Asia and Middle East said: "India is one of the largest cash markets globally. The POS sector benefited greatly from demonetization and cornered a large share of incremental digital transaction value. We are accelerating our growth with a key acquisition of MRL Posnet. This significantly increases ...Read More