PAYSTRAX Acquires UK-Based Fintech Nochex

Payment solution provider and acquirer PAYSTRAX today announced the acquisition of UK fintech company Nochex.

The acquisition will diversify PAYSTRAX’s portfolio in the UK and strengthen the company’s vision to become a leading payment processing provider across the UK and Europe. PAYSTRAX intends to retain the Nochex name and brand in the UK, along with the existing team.

Founded in 2001, Nochex is one of the UK’s first online payment service providers, licensed as an Electronic Money Institution by the FCA. The company operates as a Payment Facilitator and Payment Service Provider, offering a payment gateway orchestration platform that has been trusted by merchants nationwide for decades.

Established in Vilnius, Lithuania, with significant operations in Brighton, PAYSTRAX has had deep business foundations in the UK from the very beginning, with its first customers based here. In 2023, the company secured its UK Payment Institution Licence from the FCA, strengthening its position in the market. Today, PAYSTRAX works with more than 800 merchants and retailers across the UK and Europe to help reduce friction, improve acceptance, and accelerate the adoption of digital payment methods.

Speaking on the acquisition, Johannes Kolbeinsson, CEO of PAYSTRAX, said: “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.”

Nick Fox, Managing Director of Nochex, added: “Over the years, Nochex has focused on delivering reliable payment solutions and building lasting trust with our merchants. Joining PAYSTRAX marks an exciting new phase where we can continue that commitment while unlocking new opportunities for innovation and service. It’s a strong fit for our people and our partners, and I look forward to what we’ll achieve together.”