Net 1 UEPS Technologies, Inc. UEPS Monday announced it has acquired a 60 percent interest in Masterpayment AG.
In collaboration with Bank Frick & Co. AG, Masterpayment provides its e-commerce merchants with working capital optimization by providing a flexible form of financing, which employs a trading transaction instead of traditional bank credit.
Serge Belamant, Chairman and CEO of Net1 noted "The acquisition of a majority stake in Masterpayment and the strategic co-operation agreement with Bank Frick provides Net1 with the critical tools required to expand our product suite and geographic reach into Europe."
Shares of Net 1 UEPS Technologies are down 1.48 percent to $8.98 Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in