Sage examines credit card service for SMEs

Sage examines credit card service for SMEs

Sage is to investigate supplying UK small businesses with credit and debit card processing services in the future, following its purchase of Verus in the US

While discussing Sage’s interims, finance director Paul Harrison revealed
that the group would look at opportunities to move further into the transaction
processing sector across the globe.

‘At the right time we could look to adapt into local territories, either
using Verus or through acquisitions,’ said Harrison.

Sage posted a 19% growth in pre- tax profit for the six months ended 31
March, to £455.9m from £385.6m. UK revenues grew to £99.5m from £95.6m.

Harrison told Accountancy Age that the group does not fear private
equity rivals in the battle for acquisitions, despite being publicly outbid for
Norwegian business software giant Visma last month by Hg Capital.

‘Visma was the first public demonstration of our willingness to walk away,
but there have been many private deals where we have,’ said Harrison.

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