PAYSTRAX has completed the acquisition of Nochex, a long-established UK fintech company and one of the country’s earliest online payment service providers.
The deal supports PAYSTRAX’s strategy to grow its UK presence following the company’s authorisation as a UK Payment Institution by the Financial Conduct Authority in 2023. Founded in Lithuania, Paystrax currently serves over 800 merchants across the UK and Europe, providing payment processing solutions designed to enhance transaction efficiency and improve acceptance rates.
Nochex, founded in 2001 and licensed as an Electronic Money Institution by the FCA, has built a strong merchant base and reputation for reliable online payment services. The company will continue to operate under the Nochex brand, retaining its existing team while gaining access to PAYSTRAX’s wider European infrastructure and technology capabilities.
Co-founder and CEO of PAYSTRAX, Johannes Ingi Kolbeinsson, said regarding the acquisition: “While we continue to grow through our own organic efforts, part of our long-term strategy is to expand externally as well, by identifying the right opportunities to complement our business. Nochex has a strong brand heritage, a proven reputation with merchants, and a history of innovation as one of the first online payment service providers in the UK, and we look forward to bringing this legacy into PAYSTRAX and building on it for the future.”
The acquisition strengthens PAYSTRAX’s position in the competitive payments sector and extends its reach across the UK market. It also signals the company’s intent to pursue both organic and acquisition-led growth as part of its European expansion strategy.
