New regulated e-Money institution
Belgian online payments company Ogone is buying mobile payments processor Tunz.com and has signed an agreement to further collaborate with long-time partner Belgacom Group. Financial terms of the deal have not been disclosed.
Buying Tunz.com means that the Ogone group will include a regulated e-money institution, enabling the company to offer a variety of services for which a licence is required in the European Union. This will help the company to enhance its cross-border offerings as well as boosting its product range.
Telecommunications group Belgacom had held a 40% stake in Tunz.com, which it will sell to Ogone under the agreement.
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