Westpay AB and PayEx Sverige AB have entered into an agreement that broadens the scope of their existing partnership. Westpay's payment gateway infrastructure will be directly integrated into PayEx card acquiring solution. This integration marks a significant milestone as it enables Westpay to process card transactions directly to PayEx without any third-party intermediaries, resulting in a streamlined onboarding process for merchants.

Additionally, the integration simplifies transaction management for both PayEx and Westpay, lowering costs and strengthening security measures for both parties. As a result of this collaboration, Westpay's resellers and merchants across Europe will gain access to PayEx comprehensive range of card acquiring services, tightly integrated into Westpay's payment infrastructure. The gateway integration is set to be completed during Fourth Quarter 2023.

Westpay will receive transaction revenue throughout the agreement period. Initially valid for three years, the agreement also allows for possible extensions. The full magnitude of the revenues throughout the agreement term is currently undisclosed.