Ogone, specialist in the online support of payment services, has signed an agreement to acquire 100% of ownership of Tunz.com, pioneer in mobile payment, and signs a strategic agreement with telecom, IT & media specialist Belgacom to further cultivate their collaboration.
This acquisition of Tunz.com will allow the Ogone group to offer henceforth all the services for which a license as an e-money institution or a payment services provider is required in the European Union. On top of its existing offer, the Ogone group, a leading provider of payment solutions, will thus be able to provide numerous international financial services to its e-merchants (more than 35,000 worldwide) looking to sell cross-border with just one simple contract as well as to offer a complete end to end environment for mobile payment.
Brussels, 17 July 2012 - Ogone, Tunz.com and Belgacom Group - who had a 40% stake in Tunz.com and is a longtime partner of Ogone – 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 & mobile payments. With Tunz.com, the Ogone platform now includes a regulated e-money institution.
The acquisition is of strategic value to Ogone’s continuous expansion, both in services and in geographical implantation. It will allow the e-merchant clients of this leading provider of payment solutions to enhance their cross border sales significantly. Not only will they avoid the administrative hassle of opening foreign accounts and organizing contracts with several acquirers, Ogone offers them more than 80 different international payment methods with now just one simple contract, opening them to millions of consumers at once.
The takeover is also inspired by the powerful mobile rise 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 thus be able to propose a complete end to end environment for mobile payment towards 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, seeing that it has a solid track record in the matter 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 pay¬ment, that allows consumers to pay for public transport, postal services, web services, vending machines, selected enterprise restaurants, etc.”, explains Peter De Caluwe, CEO of Ogone.
“Joining our forces with Ogone, who 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 applicable legislation, the deal will become effective upon approval by the National Bank of Belgium.