Bwin.party buy up another payment processor

Bwin.party has secured the purchase of card payment company PXP Solutions to add to its spin-off business Kalixa, in an attempt to increase the online gambling giant’s presence in the lucrative online payments sector.

Kalixa was separated from bwin.party last year in a move to increase revenues outside its core business, with bwin.party saying, the acquisition represents an important step in the acceleration of its three-year growth plan to significantly increase the proportion of its revenue coming from outside the core group.

“Integrating PXP will significantly grow the size of Kalixa’s payment processing volume and is expected to generate substantial revenue synergies in the areas of credit and debit card acquisition and issuance.”

Now with PXP and Kalixa the transactions processed amount to a total of €10bn in 2013, making the new venture for bwin.party a very lucrative venture.

bwin.party said that “further strategic moves” for Kalixa are planned for later in the year.

“Kalixa is on-course to become a significant player in the digital payments arena,” said bwin.party’s Chief Executive Norbert Teufelberger.

“Today’s acquisition provides excellent cross-selling opportunities for both Kalixa and PXP and has created a payments business with a balanced portfolio of customers, sectors, and geographies across Europe starting to enter the US and Asia Pacific.”