Purchase gives Ogone the ability to power mobile payments to banks and operators, create virtual wallets and give merchants access to more cross border sales.
Belgium-based Ogone specialises in online payments, and has than 35,000 businesses using its systems.
The acquisition of Tunz makes Ogone a regulated e-money institution – meaning it can provide diverse financial services to e-merchants looking to sell cross-border with just one simple contract, as well as offering an end to end environment for mobile payment.
In order to compete the buy-out, it formed an alliance with telco Belgacom Group, which previously had a 40 per cent stake in Tunz.
Tunz has previously worked with with Belgacom on PingPing, the mobile payment system that lets consumers to pay for public transport, postal services, web services, vending machines and more.
Ogone says it can now offer its e-merchant clients more than 80 different international payment methods with a single, simple contract – helping them to avoid the administrative hassle of opening foreign accounts and organising contracts with several acquirers.
It can also power mobile payments to banks and 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," said Peter De Caluwe, CEO of Ogone.
Advertisement
