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Ogone, Belgacom, Sign Agreement On Mobile, Online Payments

Tuesday, July 17, 2012 - 09:23

Belgium-based online payments company Ogone said Tuesday it will acquire 100% ownership of mobile payments processor Tunz.com, while continuing to work with telecommunications group Belgacom SA (BELG.BT), in this area.

BRUSSELS--Belgium-based online payments company Ogone said Tuesday it will acquire 100% ownership of mobile payments processor Tunz.com, while continuing to work with telecommunications group Belgacom SA (BELG.BT), in this area.

"This will change the landscape in non-cash related payments," Ogone's Chief Commercial officer Marcus Mosen told Dow Jones Newswires. "Mobile payments will not stop at the Belgian border," he added, adding the group is also in discussions with other telecoms companies.

Belgacom, in which the Belgian government holds a majority stake, had held 40% of Tunz.com that it is now selling to Ogone. All three companies signed an agreement to work together in the domain of electronic and mobile payments. Mr. Mosen wouldn't give a figure for the deal.

Europe is witnessing a scramble to control the mobile payments space, with a wide range of companies trying to get control of the market for consumers making purchases using their smartphones. 

Read the full story by clicking the link below
http://online.wsj.com/article/BT-CO-20120717-706003.html
 
Tags: Mobile Payments, EMEA, Belgacom, eCommerce, Acquisition, Ogone

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