Nets Group to acquire Checkout Finland

Nets Group's Finnish ecommerce subsidiary, Paytrail, has signed an agreement to acquire Checkout Finland Oy, part of OP Financial Group.

Nets recently announced it has merged with Italian PayTech leader Nexi, continuing to move forward to its goal of becoming a European payments champion. 

Checkout Finland is a rapidly growing payment solution provider in Finland, serving both ecommerce and physical stores with a series of payment options, together with mobile payment solutions. 

"The way we shop and transact online is somewhat different in Finland," says Markus Laurio, CEO of Paytrail. "Not least because of the enduring popularity of direct bank transfers. Understanding and developing our offerings as the experts in Finnish ecommerce has always been our passion, and we are happy to join forces with Checkout Finland, to serve Finnish customers even better with our very strong capabilities and insights into Finnish digital payments."

Nets established a 10-year partnership with OP Financial Group in 2017 regarding merchant acquiring and is now taking Finnish ecommerce to the next level following its acquisition of Checkout Finland. The transaction is expected to be completed in the first half of 2021.