PayPoint Acquires 24pay, the Public Transport Payment App with the Largest Nationwide Expansion

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PayPoint, the leading operator of cash payments and electronic recharge via points of sale in Romania, announces the acquisition of the 24pay app, the digital payment solution for public transport with the largest nationwide expansion , owned by PTP Online. Thus, PayPoint completes its portfolio of services available to consumers and diversifies the range of digital solutions, actions that are part of the company’s local transformation strategy.

Together, the two companies plan to develop the modern telephone payment industry. 24pay users will soon have access to comprehensive one-click payment services.

“We are constantly concerned with identifying and meeting the needs of our customers, in order to offer them safe and accessible services. We know time is a priority for most consumers, and payments over the phone offer convenience and security. That’s why we’re delighted to be able to offer fast transit payment services with 24pay, which will maintain the standards of quality and security that PayPoint customers have enjoyed for over 14 years. says Utku Ogrendil, CEO of PayPoint Services Romania.

Launched in 2018, the 24pay app has steadily expanded its user base and currently has over 730,000 downloads in app stores. The application is already functional for payment in public transport in 13 major cities of the country: Bucharest, Iasi, Cluj-Napoca, Timisoara, Brasov, Arad, Ramnicu Valcea, Sibiu, Targu Jiu, Piatra Neamt, Sacele, Resita and Ploiesti .

Users of the 24pay application will soon benefit from new services added, such as payment of bills and parking, but also from the extension of public transport to the railway.

“The association between the two brands, PayPoint and 24pay, came about naturally. Our values ​​and our common goal of providing secure and comprehensive payment services to our customers contributed to the decision to have this new partnership which we hope will help us achieve our goals faster and easier. says Dan Cernea, CEO of PTP Online.

The entire acquisition process was coordinated by the M&A team of Kogaion Investments, through Adinel Tudor. PayPoint received legal assistance from Cristina Man, partner of Stratulat-Albulescu, financial due diligence and tax assistance from TS Partners: Daniela Buhus and Valentina Radu, while the sellers were assisted by the Mic team, Ilie și Asociații: Stelian Mic and Angela Cristea.

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