At the end of February, VTB Group acquired 99% in a small processing company "Innovative Payment Technologies" (IPT) through the closed mutual investment fund "Digital Investments". It operates under the Paymo brand. The Kommersant newspaper writes about this.
Kommersant told about VTB's plans to receive this asset on September 2, 2021. Then the sources of Kommersant estimated the IPT within 1 billion rubles. However, the deal closed at a price of 1.8 billion rubles, according to Kommersant sources familiar with the situation.
Paymo makes online payments for businesses, provides Internet acquiring on websites and in applications. Among the partners, as indicated on the company's website, are both financial institutions and various companies, including state-owned ones.
VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate under a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc in Singapore and Dubai.
