I Love Velvet drives MPOS innovation with strategic acquisition of eWallet provider WeXpay

I Love Velvet is pleased to announce it has just acquired WexPay. WexPay is an innovative refillable virtual prepaid credit card.

This move further expands the New York based company’s position as the international market leader in the fast growing prepaid payment industry.

Patrick Bouaziz, CVO of I Love Velvet Inc., on the deal: “We are pleased to announce the acquisition of WexPay. This expansion will enable I Love Velvet Inc., offer world-wide customers full secure turnkey solutions that provides a superior end-to-end experience, from the management of selling through the final payment.”

WexPay is much more than an e-wallet, supporting multiple payments, pre-paid cards, e-cash/vouchers, coupons, and cash transfers that will completely replace the need to carry multiple cards in one’s wallet. A unique feature is that it insures customers complete security from identity theft since their banking information is not attached to their account in any way, but still allows the customer secure electronic transactions such as internet/mobile banking. The solution is built on a patented product by WexPay a division of I Love Velvet Inc.

WexPay supports more than 300 websites and over 8,500 point-of-sales locations in France.

Bruno Ballan de Ballanse, will step into the role of Managing Director and bring over 20 years of mPOS experience.