epay

What epay does

epay (legal entity: transact Elektronische Zahlungssysteme GmbH) is a German-based, BaFin-licensed full-service payment provider operating as a strategic business division of Euronet Worldwide, Inc. (NASDAQ: EEFT). The company sells B2B payment infrastructure and digital commerce services — including card and alternative payment acceptance (credit/debit/girocard, Alipay+, WeChat Pay, PayPal QR, UnionPay QR, Apple Pay, Google Pay), prepaid and branded gift card distribution, issuing and loyalty, incentives and rewards (via the cadooz and cadooz rewards brands), event ticketing, and digital identity/KYC — to enterprise merchants and brand partners across retail, telecommunications, healthcare, automotive, fintech, gaming/entertainment, e-commerce, banking, and hospitality.

Its technology stack is anchored on a BaFin-regulated, KRITIS-certified payment platform exposed through a single API that aggregates acceptance, issuing, acquiring, prepaid, and incentive solutions across in-store, online, and connected-store channels. Differentiated product components include an Android-based SoftPOS that converts consumer smartphones and tablets into girocard-accepting contactless terminals, Android POS hardware bundling POS app, card reader, and receipt printer, plus add-on services such as Digital Receipt Management and Terminal-as-ECR-Screen. The company maintains ISO 27001, PCI-DSS, SOX, VISA-PIN Security, and KRITIS certifications.

Revenue is generated through five streams: transaction-based payment processing fees, terminal hardware sales and rentals (bundled with service subscriptions), commissions on prepaid/gift card activations through its retail distribution network, subscription/rewards revenue from the cadooz incentive platform, and software licensing. Pricing is quote-based and contractual rather than publicly disclosed; customer agreements carry 12-month extension cycles and 3-month notice terms. Epay distributes primarily through direct enterprise sales to large retail chains and corporate partners (REWE Group, dm-drogerie markt, EDEKA, KaDeWe Group, O2 Telefónica, Asklepios, ADAC, Circle K Ireland), supplemented by channel partnerships with POS integrators (Vectron, SCHAPFL), brand partners (Apple, Amazon, Spotify, Netflix, etc.), and network operating arrangements across more than 6,000 terminals at dm-drogerie markt alone. The company operates from Martinsried near Munich and runs active market presence in Germany, Austria, Switzerland, Ireland, Greece, the Czech Republic, and Poland under the Euronet corporate umbrella.

Name

epay

Legal name

transact Elektronische Zahlungssysteme GmbH

Website

https://epay.de

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

epay is a German BaFin-licensed full-service payment provider and division of Euronet Worldwide (NASDAQ: EEFT), offering card acceptance, prepaid/gift card distribution, incentives, and ticketing to enterprise retailers, brands, and corporates across Europe.

Ownership category

akta.pro rank

Product category

Payment Processing Services

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

akta.pro secondary industries

mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC), POS Terminal Hardware (Countertop, Mobile, PIN Pads) (FSAMADAA), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE), In-Store Contactless & NFC Acceptance (Tap-to-Pay, EMV Contactless) (FSAMADAF)

Keywords

• Payment processing services
• Prepaid gift card distribution
• POS payment terminals
• Mobile payment acceptance
• Incentive and rewards solutions

Headquarters

HQ city

Planegg

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Payment Processing & Transaction Fees: Fees charged to merchants for processing card payments including credit cards, debit cards (girocard), and mobile payments. Revenue generated per transaction processed through terminals or digital channels.
2. Terminal Hardware Sales & Rental: Sale and rental of payment terminals (POS hardware) to merchants. Rental includes bundled services like billing technology, hotline support, and exchange service. Hardware sales priced as one-time purchases with ownership retained until full payment.
3. Gift Card & Prepaid Solutions: Distribution of gift cards and prepaid vouchers from brand partners through retail networks. Revenue generated through commissions and transaction fees on prepaid card activations and reloads.
4. Incentive & Rewards Solutions: B2B solutions for employee benefits, customer loyalty, and corporate incentives through cadooz and cadooz rewards brands. Includes digital reward shops and benefit delivery platforms.
5. Software Licensing: Licensing of payment software to merchants, either as rental (single-seat license limited to rental period) or perpetual sale (unlimited non-exclusive use license).

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

epay operates as a full-service payment provider offering merchants, retailers, and brands a single API integration to a comprehensive portfolio covering payment acceptance, gift cards and prepaid products, issuing, acquiring, incentives, and rewards across in-store, online, and connected store channels. The company additionally sells and rents Android-based POS terminals, the SoftPOS software solution that turns Android devices into contactless girocard-accepting payment terminals, and operates the cadooz incentive and rewards platform.

Product overview

epay operates as a Full-Service Payment Provider offering a unified platform with multiple integrated modules including Payment Acceptance, Issuing & Loyalty, Prepaid & Branded Payments, Incentives & Rewards (via cadooz), and Ticketing. The platform provides single-interface access to Gift Card, Prepaid, Payment, Issuing, Acquiring, Incentive & Reward solutions across all channels (In-Store, Online, Connected Store). Additional value-added services include SoftPOS for Android devices, Digital Receipt Management, and terminal display integration. The portfolio is distributed globally through a partner network under the Euronet Worldwide umbrella.

Differentiator

Problem solved

Functional benefit

Brands

• cadooz: Incentive specialist offering solutions for customer loyalty, incentives and employee benefits
• cadooz rewards
• Lendstar

Products and services

• Payment Acceptance
• Issuing & Loyalty
• Prepaid & Branded Payments
• Incentives & Rewards (cadooz / cadooz rewards)
• Ticketing
• Acquiring
• SoftPOS
• Vectron Android Payment Solution
• ALDI Voucher Webshop
• Gutscheinfreude

Quantifiable outcome

• Brand Experience Study shows prepaid gift cards boost brand experience by 71.4%
• +2 more outcomes

Named customers21 records

Segments9 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature4 records

Partnerships

21 partnerships are on record, tiered strategic, core and minor.

• ThaliastrategicChannel Partner/ Reseller/ Distributor · 21 October 2025First bookstore chain to offer third-party gift card distribution through epay. Popular brand gift cards for gaming, streaming, entertainment, shopping, prepaid and mobile top-ups now available in all 360 Thalia stores.
• ADACstrategicTechnology or Integration · 30 July 2025Integrated payment solution for ADAC road patrols ('Yellow Angels') combining payment, POS, and merchandise management apps on Android platform deployed in patrol vehicles.
• O2 TelefónicastrategicTechnology or Integration · 26 May 2025New Android-based POS solution with girocard acceptance and custom cash register application for O2 shops and retailers. Over 300 terminals delivered at launch.
• Discover Global NetworkstrategicTechnology or Integration · 25 March 2025Collaboration enabling merchants to accept Discover, Diners Club, and related network card payments. Launching in Germany and Greece.
• VectronstrategicTechnology or Integration · 18 June 2024SoftPOS solution enabling Android devices to accept contactless girocard payments, turning smartphones/tablets into payment terminals.
• dm-drogerie marktcoreTechnology or Integration · 29 April 2024Expanded cooperation making epay the new network operating partner for dm's 6,000+ terminals. Software replacement achieved during ongoing operations without service interruption - sets new industry standards.
• ECE MarketplacesminorChannel Partner/ Reseller/ Distributor · 4 April 2024Gift card platform partnership with AVS for comprehensive relaunch of ECE centre voucher in around 90 shopping centres in Germany.
• AsklepiosstrategicTechnology or Integration · 28 February 2024Expanded partnership covering around 170 facilities and 3.5 million patients annually with entire range of epay payment services including digitalization of payment processes.
• cadooz / cadooz rewardscoreOthers · 15 September 2022Incentive specialist brands within epay portfolio offering customer loyalty, incentives, and employee benefits solutions. Jochen Freese appointed as Managing Director for Incentives & Rewards division.
• CTS EVENTIMcoreStrategic or Co-development Partner · 4 August 2022Strategic partnership for event ticketing enabling tickets to be sold at supermarket checkouts and gas stations. Joint solution with Lekkerland for gas station ticket sales; PENNY and REWE for supermarket ticketing.
• REWE GroupcoreStrategic or Co-development Partner · 21 July 2022Extended long-term partnership for prepaid and gift card segment covering REWE and PENNY supermarkets, toom DIY stores, and Lekkerland wholesaler. Includes event ticketing, local vouchers, and digital value-added services. REWE enables event ticket sales directly in supermarkets.
• tobaccolandminorChannel Partner/ Reseller/ Distributor · 28 June 2022Partnership for gift card distribution in Austrian tobacconists through tobaccoland network.
• Alipay+strategicTechnology or Integration · 7 April 2022European rollout of Alipay+ payment solution launched at Müller drugstore chain. Enables in-store cross-border mobile payments via QR and bar codes for Chinese consumers.
• VectronstrategicTechnology or Integration · 10 March 2022Android-based payment solution combining POS app, card reader, receipt printer, and other functions in one terminal for restaurant sector efficiency.
• RevolutcoreStrategic or Co-development Partner · 17 May 2021Global partner for digital value-added services supporting Revolut's expansion into 36 countries. Opens new digital and mobile sales channel for epay's brand partner network.
• BluecodecoreTechnology or Integration · 16 March 2021Strategic cooperation announced at EHI Innovation Days for cross-border mobile payments via barcodes and QR codes. Enables acceptance of Bluecode payments at merchants and expands HUAWEI Pay capabilities through epay distribution.
• LekkerlandcoreStrategic or Co-development Partner · 10 December 2020Long-term partnership for prepaid solutions, gas station ticketing, and digital ID solutions for retail. Multiple joint solutions including concert tickets at gas stations and on-site identification via electronic ID cards.
• Margot (Swiss kiosk)minorChannel Partner/ Reseller/ Distributor · 30 September 2020First Swiss kiosk market integration for Alipay via Margot solution. Scalable reseller model for franchises and cooperatives enabling payment acceptance at kiosk locations.
• Sparkasse Paderborn-DetmoldminorChannel Partner/ Reseller/ Distributor · 22 April 2020Long-term partnership equipping public transport system with epay terminals for cashless payment.
• VodafonestrategicStrategic or Co-development Partner · 12 November 2019Expanded collaboration to include couponing solutions. epay provides unique single-use digital coupons redeemable through retailer network for customer engagement.
• Euronet WorldwidecoreOthersepay is a business segment/division of Euronet Worldwide, Inc. (NASDAQ: EEFT), a global payment technology company. Euronet provides the corporate parent structure, NASDAQ listing, and shared infrastructure for epay's operations across multiple countries.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Worldline: Pan-European payment processor and acquirer with broad POS, merchant acquiring, and digital services coverage. Directly comparable to epay as a regulated European payment institution serving enterprise retailers with terminals and acquiring services, but with significantly broader geographic and product scope.
• Nexi: Leading European paytech providing payment acceptance, POS, and digital banking solutions across multiple EU markets. Comparable to epay in its focus on European enterprise merchant acquiring and POS infrastructure, with stronger southern European footprint.

Direct peers

• Verifone: Global provider of POS terminals and payment acceptance hardware/software for merchants. Comparable to epay's Android-based terminal offering and overall POS hardware deployment, though Verifone competes primarily on hardware while epay bundles acquiring and prepaid services.
• Adyen: Global payment platform offering unified online, in-store, and platform payment processing for enterprise merchants. Comparable to epay in serving large European retail chains with unified POS and acquiring infrastructure, though Adyen focuses more on enterprise omnichannel rather than prepaid/gift cards.
• PaySafeCard (Paysafe): European prepaid payment solutions provider focused on cash-to-digital voucher and online prepaid payments. Comparable to epay's prepaid product portfolio, particularly in gaming and digital content top-ups distributed through European retail networks.
• Stripe: Global payment infrastructure provider expanding aggressively into in-store and omnichannel POS for enterprise merchants. Comparable to epay in targeting unified commerce payment acceptance, though primarily digital-first with growing physical retail presence.
• SumUp: European mPOS and SoftPOS specialist serving SMBs with tap-to-phone payment acceptance on smartphones and tablets. Directly competes with epay's SoftPOS solution in the German and European SMB market for contactless payment acceptance on Android devices.
• Ingenico (Worldline): POS terminal hardware vendor (now part of Worldline) competing in the European countertop and mobile terminal market where epay sells and rents terminals to enterprise merchants including REWE and O2 Telefónica.
• Blackhawk Network: Global leader in branded prepaid and gift card distribution, issuance, and rewards programs. Most directly comparable to epay's prepaid/gift card, branded payments, and incentive/rewards business (including the cadooz division), with overlapping retailer distribution networks.

Regional players

• Concardis (Nexi): German-headquartered payment processor (now part of Nexi) providing card acceptance and POS services to DACH merchants. Directly comparable to epay in the German retail acquiring and terminal market, with strong DACH merchant relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/epay.now
• LinkedInlinkedin.com/company/epay-a-euronet-worldwide-company
• Instagraminstagram.com/epay.now
• Xx.com/epay_uk

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about epay