Online payment company Paytrail acquired Checkout Finland in April 2021 from Osuuspankki. The acquisition and the merger of two similar players have reached a significant and concrete stage from the customers' point of view: Paytrail has launched a new payment service on October 5, 2021.
According to the company, the new service combines the best and most customer valued features from the previous payment services of both Paytrail and Checkout. The new payment service is technically based on Checkout's modern, scalable cloud-based platform, which enables faster development to production, as well as key features from Paytrail's old platform. The new payment service will operate fully under the Paytrail brand, and the Checkout brand will be withdrawn from the market.
An even wider range of online payment methods and other innovations
Paytrail's new payment service includes by far the most comprehensive range of online payment methods, 24/7 customer service provided by e-payment experts, a renewed and more versatile Merchant panel for everyday customers, and other customer-friendly features such as advanced refund processes and shop-in-shop marketplace solution.
Customer-friendly service implementation, service availability, payment security and high-quality risk management processes will continue to be taken care of in accordance with Paytrail's high value propositions.
With the release of the new service, Paytrail also launched a new service cost effective package suitable especially for start-ups and is like what Checkout had previously offered. Prices for all old customers will remain the same.
Changes for customers were made as effortless as possible
For customers who previously used Checkout's payment service, the changes took effect automatically on October 5th with the new Paytrail payment service replacing the previously used Checkout payment service.
Correspondingly, for customers who use Paytrail's previous service, the upgrades will become available with the update of the payment service interface. Related partner and customer communications began in June. From 05.10. onward, new customers, as a general rule, will use the new payment service. Paytrail's old service will be discontinued later.
"For months now, with our new, larger Paytrail team, we have been developing and shaping the best possible overall service for our customers: businesses and consumers. We are very excited about what we have achieved. With the acquisition, we have an even bigger team with a lot of unique expertise and experience in domestic e-commerce and payments. Our goal is to harness our full potential for the benefit of Finnish online stores, online stores selling to Finnish consumers and Finnish shoppers. We strive to be the most knowledgeable, customer-oriented and desired partner for online payments, as well as a technological pioneer", sums up Paytrail's CEO, Markus Laurio.
Markus Laurio, CEO, Paytrail
+358 40 840 3754
Founded in 2007, Paytrail is the largest Finnish online payment company. The company handles the online payments for its 20,000+ customers. Additionally, Paytrail handles the online payments of the State Treasury's Suomi.fi service. The company is part of Nets and acquired Checkout Finland in April 2021.