We have contacted you, our merchants, earlier this week and you might have already read the news in the media. But we want to give you the transparency, as we always have, surrounding the current situation, and answer the questions you probably have. Please always feel free to contact us directly, we’re always happy to help.
Why did PAYMILL choose to file for preliminary insolvency?
In coordination with the potential investors, shareholders and the main creditors, our management team has made the strategic decision to go for a preliminary insolvency in self-administration in order to bring the M&A negotiations to a successful result.
What does M&A negotiations mean?
Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined. As an aspect of strategic management, M&A can allow enterprises to grow, change the nature of their business or improve their competitive position.
Will the payment payouts be affected?
Not at all. The payout to all our registered customers is not affected, since the processing and settlements are being handled by the acquiring banks. We continue our activities as usual.
Can I contact the acquiring bank?
We are striving to successfully finalize the already advanced M&A process. That is why we remain your contact to the acquiring banks.
Should I search for another PSP?
The operational business will continue to be carried out in full and we will offer you solutions to all the possible scenarios. We stay your capable partner as usual. Your payments are secured and we will keep you updated on any developments in time.
What happens next?
We’ll be continuing our business operations as usual. Our management team are currently in advanced M&A negotiations with several parties and focused on bringing the process to a successful outcome. We would like to thank everyone for standing behind us during this period and for your trust in us.
We are overwhelmed by the positive feedback of our customers and partners. Please stay tuned for further updates.