News about Acquisition.
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”.
May 12th, 2015
Visa is in preliminary talks to buy former subsidiary Visa Europe in a deal that may be valued at as much as US$20bn. “The talks, which began when Visa approached Visa Europe, are at an early stage and could fall apart if the two sides can’t agree on a price,” Bloomberg reports. “Visa Europe is owned by more than 3,000 European banks and has a put option that would force its former parent to buy it within about nine months if at least 80% of its board agrees.”
May 5th, 2015
O2, one of the three UK mobile network operators that formed the mobile commerce joint venture Weve three years ago, has bought out partners EE and Vodafone to operate the brand as a wholly-owned subsidiary — and…
March 20th, 2015
“What Paydiant has is a clarity of focus on mobile and how large merchants need to utilise mobile to connect with their customers — they’re a small company doing that very successfully with some really…
March 12th, 2015
Square has bought Kili Technology, the Canada-based mPOS startup that acquired NFC-on-microSD pioneer DeviceFidelity in November 2014. Together, says Square, “we’ll continue to lead the way in delivering simple and affordable hardware that gives our sellers a smarter and safer way to do business”.
March 2nd, 2015
Google’s recent acquisition of Softcard’s NFC payments business may hit Samsung Pay’s prospects for widespread US adoption hard, says a respected payments consultant. Commenting on Samsung Pay’s launch, Tom Noyes is enthusiastic about the system’s mechanism for wider merchant acceptance but, he writes, “even if it were ready today it will never be pre-loaded on ANY phone in the US given the recent Google/Softcard deal with all three major US MNOs.”
February 19th, 2015
Samsung Electronics has announced it is to buy LoopPay, the startup that has developed a way for mobile payments to be made at standard magnetic stripe card terminals. LoopPay’s technology is expected to form part…
February 10th, 2015
Mobile payments platform provider Mozido has acquired Chinese cross-border payment gateway provider PayEase with the aim of introducing its mobile payments and retail marketing solutions into the Chinese market. The move follows the company’s acquisition of mobile commerce specialist CorFire in December 2014 and a US$2.5m investment in SimplyTapp last week.
February 3rd, 2015
Photo messaging platform Snapchat is letting users add friends to their social network by scanning Snaptags, unique QR codes assigned to each user. “Leaked emails from the Sony hack revealed SnapChat quietly acquired a QR code startup called Scan.me late last year,” TechCrunch reports. “Now it makes sense why Snapchat would want to pay $50m for Scan.me, which built a system to connect QR codes to people’s identities.”
January 29th, 2015
UK-based mobile marketing and NFC pioneer Proxama has announced a round of redundancies at its Norwich headquarters with up to 21 people believed to be at risk of losing their jobs. The cuts were announced…
January 19th, 2015
Google is responding to the successful launch of Apple Pay by going on the mobile payments acquisition trail, according to industry rumours — and US carrier-owned NFC venture Softcard, which laid off 60 staff last week,…
December 19th, 2014
Cloud-based mobile payments platform provider Mozido has acquired the majority ownership of mobile commerce specialist CorFire, previously wholly-owned by South Korean IT services provider SK C&C. “By adding [Corfire’s] strength in NFC-enabled mobile wallets to Mozido’s extensive mobile financial services and retail marketing capabilities, we can now give merchants around the world access to a powerful mobile ecosystem,” says Mozido’s Michael Liberty.