BlueKite buys payment tech firm RedCycle

BlueKite

Using RedCycle's payments technology network

BlueKite, a cross-border payment company, has acquired bill-payment technology firm, RedCycle, in an undisclosed transaction.

The deal follows BlueKite’s USD1.5m funding last month. The acquisition will allow BlueKite to use RedCycle’s payment technology network, which includes utilities and telecommunications companies in Mexico, Guatemala, El Salvador and other parts of Latin America, to enable emigrates to support families at home.

 RedCycle’s founder, Camilo Saravia, will remain head of the company in addition to joining BlueKite’s board as VP of product and biller integrations. BlueKite’s payment platform can be used online, via mobile apps and through a clerk-assisted in-store version.  

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