News about Acquisition.
June 21st, 2016
Visa has completed its acquisition of Visa Europe. “The combined, global company provides digital payment products, services and processing to about 17,100 financial institution clients and partners, more than 40m merchant outlets and 3bn Visa accounts worldwide,” the payment network says. “Visa-branded cards and payment products enable approximately US$6.8trn in global payments volume annually.”
June 3rd, 2016
The European Commission has approved the proposed acquisition of Visa Europe by Visa. “Visa has now received all regulatory approvals required for the acquisition,” Visa says. “The transaction has already been cleared by both the Jersey and the Turkish competition authorities. The transaction is expected to close in Visa Inc’s fiscal third quarter of 2016. Visa will announce the closing once it has occurred.”
May 19th, 2016
Fitness wristband maker Fitbit has acquired the wearable payment assets of connected device maker Coin in a move that will enable the company to add NFC payment capability to its future devices.
April 25th, 2016
Visa has reached a preliminary agreement to amend the transaction details of its Visa Europe acquisition in response to feedback from the European Commission. “Instead of an earn-out, the cash consideration payable in the transaction will be increased by €1.75 billion — €750m payable upon closing and €1bn, plus 4% compound annual interest, payable on the third anniversary of closing,” Visa says.
April 11th, 2016
POS terminal maker Ingenico has acquired NFC specialist Think&Go. “Think&Go has developed a technology that enables any kind of digital display to interact with connected objects such as smartphones and transit passes,” Ingenico says. “By drawing on Ingenico Group’s global network and R&D capabilities, Think&Go can now grow its business faster and achieve a twenty-fold increase in the number of screens deployed within three years.”
March 7th, 2016
Mobile payments platform PowaTag has been sold to a consortium led by entrepreneur Ben White, administrator Deloitte has confirmed, following news that its parent company Powa Technologies went into administration last month. The company’s ecommerce platform PowaWeb has also been sold to UK-based digital business group Greenlight Digital. The Financial Times reports that the sales were for “undisclosed amounts” and questions the “typically used” valuation of Powa Technologies at US$2.7bn.
January 26th, 2016
PARTNER NEWS: Tokenization and mobile payments specialist Bell ID has been acquired by chip maker Rambus. Bell ID will form part of Rambus’ Cryptography Research division, which specialises in embedded security solutions including tamper resistance,…
January 12th, 2016
Mintchip, the digital currency developed and field tested in an NFC payments pilot by The Royal Canadian Mint, has been acquired by Loyalty Pays Holdings Corporation, a subsidiary of NanoPay. “NanoPay is now focused on expanding partnerships with central banks, commercial banks, telcos, acquirers, retailers as well as developers and POS providers that will further expand the utility and acceptance of MintChip,” the loyalty and payments platform provider says.
January 7th, 2016
Alibaba affiliate Ant Financial, owner of mobile payment platform Alipay, is seeking an investment of at least 10bn yuan (US$1.5bn) ahead of a planned initial public offering, Bloomberg reports. “Ant Financial may use money from the current fundraising for acquisitions,” the publication says. Ant Financial made a strategic investment in Indian mobile payment platform Paytm in September 2015 after closing a Series A financing round that valued Ant Financial at more than US$45bn.
January 6th, 2016
Mobile network operator Orange has entered into negotiations to acquire a 65% stake in France’s Groupama Banque with a view to launching a 100% mobile bank. “The launch of Orange Bank is planned for early 2017 in France and on other European markets like Spain and Belgium,” Groupama Banque says. “Services cover daily banking, savings, loans and insurance.”
December 9th, 2015
ID technology specialist Morpho has acquired mobile payment solutions provider AirTag for an undisclosed sum. “AirTag develops secure mobile transaction solutions; the company developed AirPass, a virtual bank card solution using host card emulation (HCE) technology and based on a proprietary tokenization platform,” Morpho says. “By combining their areas of expertise, the two companies will be able to manage the multiple security aspects involved in mobile payments.”
November 3rd, 2015
October 19th, 2015
Norway’s SpareBank 1 has acquired mobile payments provider mCash for an undisclosed sum. “With this acquisition, we strengthen our mobile efforts and are well positioned to meet future digital customer needs,” says the bank’s chairman Jan-Frode Janson. mCash lets users make in-store payments via QR codes, transfer funds and make online payments. It has more than 100,000 users and has signed up 600 stores.
October 16th, 2015
Restaurant payment app provider Velocity Mobile has acquired Tab Payments, a mobile payments app for diners in Canada accepted at more than 100 restaurants in Toronto and Montreal. “The acquisition further expands Velocity’s reach, which now connects premier restaurants with global diners in six major cities in the US, UK and Canada,” Velocity Mobile says. Terms of the transaction have not been disclosed.
September 29th, 2015
Restaurant payment app Velocity has acquired mobile payments solution Cover for an undisclosed sum. Cover is accepted at more than 350 restaurants in New York, San Francisco and Los Angeles. “The acquisition will accelerate the expansion of Velocity’s global hospitality platform, which connects premier restaurants with affluent diners, empowers them to settle their bill directly from their phone and builds loyalty through tailored status and rewards programs,” Velocity says.
July 2nd, 2015
PayPal has bought digital money transfer provider Xoom for about US$890m. “Xoom is a leader in international remittances, enabling customers in the US to send money to, and pay bills for, family and friends around the world in a secure, fast and cost-effective way using their mobile phones, tablets or computers,” PayPal says.
June 22nd, 2015
Google is reported to be considering acquiring the Tesco-owned loyalty agency that is responsible for the development of the supermarket giant’s Clubcard rewards scheme. “Google would like to use Dunnhumby to offer more reward and loyalty bonuses for Android Pay users,” IT Pro Portal reports. “Acquiring Clubcard may allow Google more insider knowledge as to the workings of the UK market.”
May 29th, 2015
Smart card-based solutions provider TAG Systems has entered into the mobile payments space by acquiring shares in Seglan, the company behind Spanish bank Bankinter’s HCE-based mobile payments service. “As a result of this operation, TAG Systems will offer mobile solutions based on HCE and tokenization to financial institutions, transport operators and merchants,” TAG Systems says.
May 18th, 2015
Apple has reportedly been in acquisition talks with troubled mobile payments startup Clinkle amidst claims that seven of the company’s staff quit their roles last week following frustration with CEO Lucas Duplan. “This is only the latest bad news after years of ridicule for its massive $30m funding round despite lacking a publicly available product, and highly critical reports of Duplan’s leadership through repeated layoffs at Clinkle,” TechCrunch reports.
May 14th, 2015
Samsung paid about US$250m to acquire LoopPay, developer of the magnetic secure transmission (MST) technology that will form a key part of Samsung Pay when it launches later this year, according to Recode. The figure could rise based on executive or company performance but “the terms of the earnouts are not known”.