Payment processor Checkout.com has purchased its Australian rival, Pin Payments.
In Brief:
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Pin currently serves more than 12,000 businesses in Australia and New Zealand.
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It supports ecommerce stores such as Shopify.
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The terms of the deal remain undisclosed.
What does this mean?
In buying Pin Payments, Checkout.com now has access to Australia’s ecommerce market which is said to be worth $33bn.