European FinTech myPOS has acquired British payment solutions provider UTP Group as the company looks to expand its services in the UK.

With more than 52,000 customers, UTP provides a suite of payment services, including portable and countertop card machines, Tap-to-Pay and e-commerce solutions, and flexible funding options.

myPOS, which provides instant access to funds and real-time transaction data for more than 250,000 businesses in over 35 European countries, said that the deal will enable it to expand its presence in the UK by integrating UTP’s direct sales force and extensive client base, with a focus on providing better support and more opportunities for UK merchants.

UTP clients will experience no service changes as a result of the acquisition.

The deal is the second aquisition by myPOS this year, with the company also recently buying French cash register company Toporder in France, further expanding its presence in the region.

The company stated that it expanded its customer base by 42 per cent to 250,000 companies last year, adding that its turnover grew by 29 per cent to almost €14 billion.

The chief executive of myPOS, Mario Shiliashki, said that the acquisition will help companies grow and scale without high upfront costs.

“We are excited to empower local merchants and lay the foundation for long-term success in this key market,” he added.

UTP chief executive officer Michael Ault emphasised the opportunity for UTP to join myPOS.

UTP chief executive Michael Ault said that the move would give the organisation a chance to work with a “leading FinTech platform” which is well-positioned for future growth and backed by a growing European presence.

---