Regulators have agreed to the acquisition of MultiSafepay by Chinese language Ant Group

Amsterdam fee processor MultiSafepay has been completely acquired by Antom, a part of Chinese language monetary companies supplier Ant Group. MultiSafepay is merging with Antom now that regulatory authorities have given the required approval for the acquisition.

MultiSafepay writing that the corporate will develop into a subsidiary inside Ant Worldwide, which is a part of the Ant Group. The fee platform integrates with Antom and focuses on providing fee options to SMEs in Europe.

Reuters reported in the beginning of this 12 months Ant Group needed to take over the Amsterdam fee platform. The Chinese language firm is alleged to have paid $200 million for BPA, though the latter’s press launch doesn’t clarify this. The development would nonetheless need to be accredited by regulators, which is now the case, based on BPA.

The Dutch MultiSafepay has been lively since 1999 and gives fee options for small and medium companies, corresponding to eating places and retailers. Ant Group was initially based as a part of Alibaba Group and is thought for the fee platform Alipay, one of many largest fee platforms on this planet.