Paysera acquires Foxbox terminals and will ensure quick service restoration in healthcare and other institutions

January 2025 • 2 min

Fintech leader Paysera has announced the acquisition of the Foxbox self-service payment terminal network from Foxpay. The transition is being expertly managed by Ieva Trinkūnaitė and the Foxpay team to ensure a smooth and efficient handover. Paysera's immediate priority is the rapid restoration of services. The company plans to reactivate 120 existing terminals and deploy an additional 27 unused terminals in the near future, further expanding their reach and functionality.

The initial phase of service restoration, including the reactivation of payment features, is expected to be completed within the next two months.

Marijus Plančiūnas, the CEO of Paysera, stated that the transaction has been executed smoothly and professionally, as both parties prioritised the rapid restoration of a service that is crucial to the public.

"Thousands of people relied on these terminals daily, particularly in healthcare institutions, making rapid service restoration a top priority for both us and Foxpay. We are grateful for the great efforts of shareholder Ieva Trinkūnaitė to ensure the restoration of service provision. The newly acquired self-service terminals are user-friendly, effectively reduce queues, and are convenient for people of all age groups, including the elderly. Initially, our focus will remain on the Lithuanian market. However, after assessing the success of this initiative, we plan to expand the terminal network to other Paysera group countries" – says M. Plančiūnas.

During the first half of January, Paysera specialists will reach out to the institutions where the terminals are installed to present service continuity options.

In 2023, the terminals that will continue to operate under the Paysera brand facilitated 768,000 transactions, amounting to over 34 million euros. The majority, or 80%, of the terminals are installed in healthcare facilities.

Software will be used in ATMs

Paysera also plans to adapt the acquired terminal software for use in its developing ATM network, which currently utilises third-party technologies. This means that in the future, both ATMs and acquired terminals will operate on the same software.

Return on investment within two years

The investment in the Foxbox terminal network is projected to pay off within two years. The anticipated return on investment will be driven by enhanced terminal functionality and greater accessibility in other Paysera Group countries – Latvia, Estonia, Kosovo, Albania, Bulgaria, and Romania.

Expansion into physical payment processing

Paysera, whose main business in the Baltic States is payment processing in e-commerce, has recently been strengthening its position in the physical payments market. In the spring of 2024, the company acquired a solution developed by MB Brand Lions to accept card payments and transmit receipt data to the State Tax Inspectorate. The takeover of the Foxbox terminal network is another strategic step toward creating a comprehensive payment ecosystem.