Collector Bank announced the acquisition of the payment solution business Lindorff Payments.

Collector Bank, a Stockholm, Sweden-based bank announced that it entered into an agreement to acquire Lowell’s payment solution business, Lindorff Payments.

The transaction, which has financial details undisclosed, supplements Collector Bank’s offering as it will double in volume in Finland, thereby strengthening its role as one of the Nordic leaders in payment solutions.

Lindorff Payments has a portfolio of hundreds of Nordic clients and several strategic partnerships, managing B2C and B2B payment solutions for in-store as well as e-commerce companies.