M-commerce: Ogone Buys Tunz.com and Signs with Belgacom

• Ogone has just acquired the processor Tunz.com and strengthens its links with Belgacom Group, with which it has been working for three years. This transaction now has to be approved by the National Bank of Belgium; its amount has not been disclosed.

• With this buyout, Ogone acquires the know-how of an approved EMI, this passport should allow them to propose various additional services in Europe and uphold cross-border offers.

• The Belgian telecom group Belgacom used to own 40% stake in Tunz.com, and agrees to sell them to Ogone. Tunz.com and Belgacom have also extended their commercial agreements to focus on the m-payment sector in Belgium and Luxembourg. Ogone should then also benefit from this evolution.

Source: Press release

• Ogone, seeking growth opportunities, has achieved a strategic acquisition. This agreement encompasses the m- and e-payment sectors, highlighting all three players’ expertise and strengthening their links.

• Ogone network’s merchants should then be able to propose more than 80 international payment options to improve their conversion rates without having to sign many contracts. The e-PSP is also comforted by the surge of the m-payment market as well as by the success of PingPing, jointly managed by Tunz.com and Belgacom.