Feb 21 Reuters French payment services company Worldline will keep looking for technology acquisition opportunities in Europe, it said on Tuesday after it beat fourthquarter sales expectations.

Payments processors have seen instore volumes recover since the easing of COVID19 restrictions, but the inflationdriven squeeze on discretionary and ecommerce spending poses a risk to their revenues.

The group, which processes digital payments for clients from merchants to government agencies, produced organic sales growth of 10.7 in 2022 and forecast 2023 organic sales growth of between 8 and 10 for 2023.

JPMorgan analysts said Overall we see the results as good, the guidance at best inline but not better than market expectations.

Worldline39;s shares were down 1 by 0830 GMT.

Its fourthquarter organic sales growth of 8.3 beat an analysts39; consensus estimate of 7.7 provided by the company, which was driven by market share gains and volume growth in its Merchant Services business.

Chief Executive Gilles Grapinet told reporters Worldline would continue to participate in the European market consolidation and to expand Merchant Services, its largest global business line, in attractive geographies.

The payments sector has seen several big takeover deals as growing use of ecommerce platforms and smartphones has spurred competition to develop new systems.

Worldline bought French rival Ingenico in 2020 for around 7.8 billion euros. In 2022, the company purchased a 40 stake in…