US payments firm Euronet is extending its reach in Australia with the takeover of niche payments processor Pure Commerce.Terms for the takeover, announced last week, were not disclosed, though Euronet said that the target's annual turnover was around US$15 million and growing at 30 per cent.Euronet's main business in Australia is the ePay payments business that provides mobile phone and gift card top-up services at newsagents and similar outlets. NASDAQ-listed Euronet has turnover of around A$200 million from its Australian subsidiary, which has been in decline.Pure Commerce chief executive, Daniel Lavecky, said the vendors were Investec and staff.Lavecky said the firm looked at a further funding round and an IPO but eventually chose a trade sale. He said 20 parties looked at buying his company, with the list being whittled down to three before the board opted to negotiate with Euronet."We were regularly approached by various industry players. At the board level, we always thought about how to grow faster. "We realised the money was very easily available to us. To grow faster we wanted to work with a partner that has established networks and global scale.""Euronet has relationships with 300 banks worldwide."Pure Commerce has found sales of its services in Australia hard to close. Local clients include Bank of New Zealand and Tyro Payments.Many of its bank clients are in Asia, with Korea Exchange Bank being one prominent client.Lavecky said he believed banks were increasingly looking for third-party solutions to drive product development.Late last year, Euronet's subsidiary, epay New Zealand, took over rival Ezi-Pay NZ.