Polskie ePłatności (PeP) has acquired a majority stake in Team4U, the owner of Simapka, a mobile application for shop and service point of sale (POS) owners, a Press release said Thursday, July 28.
Simapka allows you to register SIM cards, sell gift cards, transfer numbers between operators and benefit from loan and insurance functionalities.
PeP is part of Nexi Group, the European PayTech company, and Robert Hoffman, CEO of Nets Merchant Services, also a member of Nexi Group, said the idea was to build “an ecosystem in which payments will be complemented by many services extras offered by POS.”
“Our goal is to ensure that outlets across Europe benefit from the rapid digitization of payments through solutions such as Simapka’s mobile app. We are proud to welcome Team4U to the Nexi family and look forward to helping them continue their growth in the Polish market.
The statement notes that statistics from the National Bank of Poland indicate that 100,000 new terminals were added in Poland in 2021, of which more than 30,000 are PeP terminals.
PeP is trying to become a leader in cashless payments in Poland and has acquired other companies such as NeoTu, PayUp, TopCard, Billbird and PayLane over the past five years.
In 2020, PeP was acquired by Nets, with PYMNTS writing that this allowed the latter company to enter the Polish market.
See also: Nets expands its presence in Poland with the acquisition of PeP
This market was sought after as it had low card penetration as well as double digit growth in card usage at the time as the country sought to increase its use of cards rather than cash.
“PeP is the fastest growing payment technology company in one of the fastest growing digital payment economies in Europe, and we have been impressed with the PeP team, their high quality internal workings and its business performance,” said Bo Nilsson, CEO of Nets Group.