Mobile commerce specialist Proxama is to acquire payment technology specialist Aconite Technology. According to the two companies, the acquisition will create a compelling end-to-end solution for card issuers to migrate to EMV technology. Final terms of the acquisition are subject to completion of due diligence and definitive terms.
Proxama is to acquire Aconite Technology
According to Proxama, the acquisition is ideally timed to capitalise on the jumpstart of the NFC and contqctless mobile payment industries that both the October 2015 US deadline for EMV adoption and the launch of Apple Pay in October 2014 have created.
Under the acquisition agreement, Aconite’s products will be combined with Proxama’s CardGateway and TapPoint platforms, enabling companies to become mobile and proximity commerce-enabled.
“We see this union as a way for banks, issuers and retailers to rapidly deploy secure EMV and NFC contactless payment solutions as well as provide proximity marketing services, all in one go,” said Neil Garner, CEO and founder of Proxama.
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