UK mobile money company Monitise has completed a deal for the Turkish mobile payments technology provider Pozitron Yazilim as it looks to expand further into Europe and the Middle East.
Currently, Pozitron provides secure mobile banking and payment services to 30 companies in a variety of industries, including Turkish Airlines, GlaxoSmithKline, ING and eBay.
Monitise Group chief executive Alastair Lukies said the acquisition reinforces the company's leading position as a global technology enabler.
“It comes at a time when we are seeing increasing demand for interoperable Mobile Money services as payments become more digital by the day, not only in Turkey, Europe and the Middle East but also around the world.”
Pozitron, which won the Global Business Plan Contest organised by Harvard Business School in 2008 for an integrated mobile banking product, is a Deloitte Top 10 fastest growing business in Turkey and a Deloitte Technology Fast500 EMEA winner in 2011, 2012 and 2013.
By Asim Shah