Worldline completes Cardlink SA acquisition
Bezons, September 30, 2021 – Worldline [Euronext: WLN], the global leader in the payments industry, today announces the completion of its acquisition of Cardlink SA, the leading Network Services Provider in Greece, as part of its wider European consolidation strategy.
Cardlink is the leading Greek Network Services Provider with an above 240,000 Point of Sale fleet (46% of POS transactions), managing around 500 million of transactions a year (53% Merchant Sales Volumes market share). The company provides more than 10,000 online merchants with strong value-added services through the Cardlink check-out offering and benefits from long-term relationships with Greek’s leading banks.
The Greek market shows unique growth opportunities for Worldline, with a growing addressable market driven by the shift from cash to card and electronic payment adoption.
The integration of Cardlink will allow Worldline to expand in this high potential market, driven by unique access to the leading Greek payment acceptance network, and the opportunity to rapidly expand its Merchant Services activities. Worldline also intends to further develop Cardlink’s longstanding partnerships with key local acquiring banks and offer existing Cardlink customers access to Worldline’s innovative portfolio of services and solutions.
Cardlink’s leading position, coupled with Worldline’s global scale, best-in-class technologies, and payment expertise will help deliver double-digit revenue growth for the combined entity, while a robust integration program will support improvements in profitability, driven by operating leverage and cost efficiency.
George Drimiotis, CEO of Cardlink, will remain as CEO and shareholder of Cardlink alongside Worldline and will be responsible for pursuing the development of Worldline’s activities in Greece, supported by an expert team of more than 100 new Worldline employees.
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Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2020 Worldline generated a proforma revenue of 4.8 billion euros. worldline.com
Worldline’s corporate sense of purpose (“raison d’être”) is to design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. We make them environmentally friendly, widely accessible and support social transformation.
This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group's expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Worldline’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Worldline’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2020 Universal Registration Document filed with the Autorité des marchés financiers (AMF) on April 13, 2021 under the filling number: D.21-0303.
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