Payten’s acquisition, which strengthened the Group’s position in the European payment industry, was carried out by a team led by local expert Damir Čaušević from Monri.
Payten has acquired Portuguese fintech Ifthenpay, a renowned payment institution licensed by the Central Bank of Portugal. With this acquisition, the Payten Group strengthens its presence in the European payment industry and opens up new opportunities for growth and cooperation with Group members.
The company Ifthenpay provides online payment solutions for more than 25,000 Portuguese merchants, and its entry into the Payten Group opens up new perspectives for further development and business expansion. Payten entrusted the management of a recent acquisition important for strengthening its position in the European payment industry to a local expert, Damir Čaušević, from Monri Payments.
Commenting on this merger, Čaušević stated: “With the acquisition of Ifthenpay, Payten Group further strengthened its position in the European payment industry and opened opportunities for the rapid expansion of its business to new markets. On the other hand, for Ifthenpay, this acquisition is significant as it allows them to expand their range of products using Payten’s portfolio. I must point out that I am extremely proud of the dedicated work of the entire Monri team on this acquisition, during which we gained a deep understanding of Ifthenpay’s excellent business practices. We will apply the acquired knowledge locally to provide even better services to our clients”.
The co-founders of Ifthenpay, Filipe Moura and Nuno Breda, pointed out that they recognized in Payten the same qualities nurtured in Ifthenpay.
“In Payten, we find the same DNA and way of thinking. Both companies firmly believe in creating value for our clients and joint growth”, Moura explained.
“Being part of the Payten family will give Ifthenpay a competitive advantage and the opportunity to expand our digital payments solutions worldwide,” said Breda.
Payten Group specializes in developing secure and innovative payment solutions in the markets of 24 countries worldwide. As a member of the Payten Group, Monri Payments processed more than 130 million card transactions in Croatia in the segment of card payments in 2022, i.e., every fifth transaction in non-cash transactions. At the same time, Monri processed every third card transaction in Croatia for in-store payments.
Monri Payments currently has more than 12,000 POS terminals on the Croatian market. Thanks to its PCI P2PE and PCI DSS L1 certificates, Monri is the only domestic payment company that can offer merchants the highest security standards in non-cash payments at physical and online points of sale.
