EPI announces planned acquisitions

Description

European Payments Initiative (EPI) announces the planned acquisitions of Dutch payment solution provider iDEAL and payment solution provider Payconiq International (PQI). EPI is a payment platform backed by a group of major European banks, including ABN AMRO. EPI's acquisition of iDEAL and Payconiq marks an important and progressive step toward a pan-European digital payment solution. EPI, iDEAL and Payconiq are joining forces to realize the common vision: to build together a European-based digital payment solution that can compete with global players. The EPI platform provides an excellent basis for further innovations in the European payments market. The announced acquisition is subject to approval by the relevant national and European authorities.

About EPI

EPI is an initiative of fourteen commercial banks and partners from the Netherlands, Belgium, Germany and France. The initiative develops a uniform and harmonized European payment solution for consumers and entrepreneurs and offers multiple forms of payments. This gives consumers and entrepreneurs more opportunities to choose those payment solutions that best suit them.

About iDEAL

iDEAL is the undisputed market leader and the Dutch online payment method through which consumers make millions of online purchases and donations every day. iDEAL is owned by Currence. ABN AMRO, ING and Rabobank are the shareholders of Currence. ABN AMRO and Rabobank, in addition to ING, will also become shareholders in EPI through this acquisition.