News about Business.
July 21st, 2016
Mastercard has entered into a definitive agreement to acquire 92.4% of UK payments infrastructure operator VocaLink for approximately £700m (US$920m). “Under the agreement, a majority of VocaLink’s shareholders will retain 7.6% ownership for at least three years,” Mastercard says. “This acquisition accelerates Mastercard’s efforts to be an active participant in all types of electronic payments and payment flows and to enhance its services for the benefit of customers and partners.”
July 13th, 2016
Swedish mobile payment specialist Seamless has acquired third party mobile wallet provider MeaWallet. “The purchase price amounts to approximately SEK 42.8m (US$5.03m) and payment is made through an issue in kind of 4,574,328 new shares in Seamless,” Seamless says. “Through the acquisition, Seamless controls important technology in the rapidly growing field of contactless payments.”
June 27th, 2016
Alipay is in negotiations to take a 25% stake in German payments technology provider Wirecard, according to German newspaper Bild. “At the talks, it comes to a share of up to 25%,” the publication reports. “Later, it could well be more.” Wirecard began rolling out support for Alipay mobile payments across Europe in December 2015 and worked with Alipay to add support for the service across Munich Airport earlier this month.
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 20th, 2016
Alipay parent company Ant Financial is seeking to buy a 20% stake in Thai online payment provider Ascend Money and to increase its stake to 30% at a later date. “Ascend’s subsidiaries include True Money, an online payment service provider, and Ascend Nano, a licensed financial services provider,” Reuters reports. “Ant Financial, whose Alipay payment platform dominates the online payments industry in China, is looking to expand its presence overseas.”
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 10th, 2016
UK businesses using digital banking solutions provider Bottomline Technologies’ C-Series payments processing module will soon be able to send payments to recipients using only their mobile phone number through the Barclays’ Pingit mobile app or…
April 29th, 2016
UK mobile payment companies SumUp and Payleven have announced that they are to merge and operate as one company under the SumUp name. “By joining forces, the combined company will be perfectly positioned to leverage both SumUp’s proprietary end-to-end hardware and payment platform and Payleven’s leading merchant acquisition capabilities to accelerate growth in a very dynamic market,” SumUp says. “Existing merchants are not affected by the transaction.”
April 29th, 2016
Vodafone Wallet with PayPal NFC-enabled payments is now live in Spain and is expected to be made available across Europe throughout the “back half of 2016”, PayPal CEO Dan Schulman revealed during the company’s Q1 earnings call.
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 11th, 2016
More than 90% of British, German and Spanish business leaders interviewed for a survey of attitudes to contactless technology have already invested in contactless projects and expect that 10% of all transactions will be contactless within the next three years, a white paper now available to download from the NFC World+ Knowledge Centre reveals.
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.”
November 12th, 2015
Indian mobile wallet provider Paytm is to hire 3,000 people to roll out its payments bank services by the first quarter of next year. “The structure of the executive committee for the payments bank is being given shape, while Paytm awaits a final nod from the Reserve Bank of India,” The Times of India reports. The company agreed a “strategic investment” from Alibaba and its affiliate Ant Financial in September.
October 16th, 2015
MasterCard is to provide tokenization services to commercial credit card issuers, enabling corporations and business travellers to load eligible corporate credit cards within participating mobile and digital wallet services using the MasterCard Digital Enablement Service (MDES). “MasterCard will now enable tokenization across virtually all its products — consumer credit, debit and prepaid cards as well as small business and commercial cards,” the payment network says.
September 29th, 2015
European mPOS company SumUp has launched its mobile card acceptance solution in Sweden, expanding its footprint to 14 countries including Germany, the UK and Brazil. “With its PIN+ Card Terminal, SumUp will be the first company to offer a proprietary card terminal to small businesses in Sweden,” the company says. The expansion follows a €10m (US$11.2m) funding round in August 2015.
September 29th, 2015
Chinese e-commerce giant Alibaba and its affiliate Ant Financial are to make a “strategic investment” believed to be worth some US$680m in Indian mobile payment platform Paytm through an agreement with its parent company One97 Communications….
January 9th, 2015
South Africa’s Nedbank is internally testing a proof-of-concept mobile payments app called Accolades that uses BLE beacons to connect customers to retailers as they enter the store. “In concept, the app would provide the product list or menu of the participating store, letting customers select the product and quantity and check it out in their mobile shopping cart without queues,” BusinessTech reports.