We’re excited to share that PAYSTRAX has officially acquired UK-based fintech company Nochex – one of the UK’s first online payment service providers.
This marks an important milestone in our journey to strengthen PAYSTRAX’s presence in the UK and continue building one of the most reliable payment processing networks across Europe.
Why Nochex?
Although PAYSTRAX was founded in Lithuania, the UK has always been close to our story. Our first customers were based here, and in 2023, we received our UK Payment Institution Licence from the FCA.
Today, we work with over 800 merchants and retailers across the UK and Europe, helping them reduce friction, improve acceptance, and embrace digital payments more efficiently.
Nochex has been around since 2001 and was one of the UK’s very first online payment service providers. Licensed by the FCA as an Electronic Money Institution, they’ve earned the trust of thousands of merchants across the country.
By joining forces, PAYSTRAX and Nochex combine decades of experience in payments. Together, we’ll be able to bring even more value to UK businesses: faster and smoother transactions as well as a wider range of payment options for merchants of all sizes (or verticals).
But what does this mean?
We’re keeping what already works. The Nochex brand and team will remain in place, continuing to operate under the same trusted name UK merchants already know. Our goal is to build on Nochex’s strong foundation while leveraging PAYSTRAX’s acquiring expertise, technology, and reach across Europe.
This is what our co-founder & CEO 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.”
From the Nochex side, Managing Director Nick Fox 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.”
So what’s next?
We’re happy to welcome the Nochex team into the PAYSTRAX family and look forward to what we’ll achieve together. Stay tuned for more updates as we continue expanding and innovating to make payments simpler, faster and more reliable for merchants everywhere!
