Ogone acquires Tunz.com to expand its mobile payment solutions offer
Ogone, the specialist in the online support of payment services, mobile payments pioneer Tunz.com, and telecom, IT & Media specialist Belgacom Group have signed a strategic agreement in which Ogone acquires 100% of ownership of Tunz.com and which states that the three companies will further develop their cooperation in the domain of electronic and mobile payments. Belgacom had a 40% stake in Tunz.com and is a longtime partner of Ogone.
The acquisition of Tunz.com means that the Ogone platform now includes a regulated e-money institution. In other words: it enables the Ogone group to offer all the services for which a license as an e-money institution or a payment services provider is required in the European Union. In addition to its existing portfolio, the Ogone group will be able to provide numerous international financial services to its e-merchants looking to sell cross-border with just one simple contract, as well as offering a complete end to end environment for mobile payment. The Ogone group has more than 35,000 e-merchant clients worldwide.
The acquisition is an important milestone in Ogone’s growth strategy, increasing both its breadth of services and its geographical reach by enabling its e-merchant clients to enhance their cross border sales significantly. Ogone will be able to offer its e-merchant clients more than 80 different international payment methods with a single, simple contract, enabling them to sell to millions of new customers and helping them to avoid the administrative hassle of opening foreign accounts and organizing contracts with several acquirers.
The takeover is also inspired by the huge mobile growth in the current e-payment market and Ogone’s subsequent continuous search for ways to enrich its range of solutions. Via Tunz.com, Ogone will be able to provide a complete end to end environment for mobile payment to banks and mobile operators, as well as support online merchants who want to create and store funds in virtual wallets.
“Now is the time to invest in bullet proof innovative mobile e-payment solutions. Our choice to acquire Tunz.com was therefore a natural one: the company has a solid track record in this space and it also provides one-stop solutions for financial services, both of which will represent tremendous added value to our trusted clients. A great example is its successful co-development in Belgium with Belgacom on PingPing, Belgacom’s brand of mobile payment, that allows consumers to pay for public transport, postal services, web services, vending machines, selected enterprise restaurants, etc.,” explains Peter De Caluwe, chief executive of Ogone.
“Combining our capabilities with Ogone, which is one of the leading specialists in technological online payment solutions in Europe and whose offer is perfectly complementary with ours, will not only enhance the reach of our services but will strengthen our activities, as well as open the way for future developments to improve the comfort of online consumers everywhere in the world,” adds Jan Van Wijnendaele, managing director of Tunz.com.
It is promising to witness such a constructive synergy in the heart of the European Union which is currently so much investing in the digital agenda. This three-way achievement can only benefit the e-commerce industry and its end customers.
In accordance with the current legislation, the deal will become effective upon approval by the National Bank of Belgium.
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