Swedish e-commerce payments company Klarna is acquiring Germany’s BillPay. Sky News is reporting the deal is worth £60 million.

The UK’s Wonga had owned BillPay, another online payments company which operated in Austria, Germany, Switzerland and the Netherlands.

“Germany is one of the largest e-commerce markets in the world, and we are delighted to have strengthened our position here with this acquisition,” said Klarna in a statement on the acquisition.

“We are thrilled to join the Klarna team,” said BillPay CEO Nelson Holzner. “Together we will have a market leading position in Germany, Austria and Switzerland, and will be able to offer our merchants and users highly attractive payment options in more international markets in an ever-increasing cross-border e-commerce environment.”

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