Ingenico, a provider of payment solutions, has completed the acquisition of Payzone France from an investment company based in Luxemburg. The terms of the transaction were not disclosed.
Founded in 2001, Payzone France is based in Colombelles and Paris. It manages a unique retailer base of 17,000 point-of-sales (POS) and is a mobile top-up distributor for all French mobile network operators (MNOs). Through its platform, it is able to offer mobile top-up as well as a number of other value added services, such as money transfer or music download.
Philippe Lazare, chief executive officer (CEO) of Ingenico, said: “This transaction demonstrates our willingness to develop our beyond-payment transaction processing business though a comprehensive value added service offering for merchants. It brings Ingenico a unique distribution network across the large French retailers. We have already identified a number of existing cross-selling opportunities with our existing service portfolio.”
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