China’s Ant Group nears $200 million deal to acquire Dutch payments firm MultiSafepay

China’s Ant Group is on the verge of a $200 million acquisition of Dutch payments firm MultiSafepay, marking its latest move to expand its presence in Western payment markets.

China’s Ant Group is closing in on a significant deal to acquire Dutch payments firm MultiSafepay for approximately $200 million, as part of its ongoing efforts to extend its reach into Western payment markets. While the transaction is currently awaiting regulatory approval, sources familiar with the matter indicate that the deal, if approved, would see Ant Group acquiring 100% ownership of MultiSafepay.

Established in 1999, MultiSafepay has become a prominent player in the payments industry, providing payment acquiring and processing services to a vast network of over 18,000 small and medium-sized businesses. The Dutch company has also collaborated with commercial partners to offer additional services, contributing to its annual revenue of around $50 million, according to insider reports.

Notably, MultiSafepay’s growth has been organic, with no external investors, setting it apart in the competitive payment services landscape. The company has expanded its operations beyond the Netherlands, maintaining offices in Spain and Germany, in addition to its home country.

The potential acquisition of MultiSafepay follows Ant Group’s strategic moves to strengthen its global presence. In 2022, the Chinese financial technology giant acquired Singapore-based payments firm 2C2P, marking its entry into the Southeast Asian market. Ant Group has been actively seeking opportunities to broaden its portfolio and enhance its capabilities in the rapidly evolving payment industry.

Ant Group, an affiliate of the Alibaba Group, is renowned for its cross-border payments platform, Alipay+. The company’s expansion strategy also includes notable acquisitions such as the purchase of British payments group WorldFirst in 2019 for $700 million. These moves reflect Ant Group’s commitment to innovation and growth, positioning itself as a key player in the global financial technology landscape.

As Ant Group awaits regulatory approval for the MultiSafepay acquisition, the payment industry anticipates further developments in the evolving landscape of cross-border financial services and the strategic positioning of major players.