Mobile Interactive Group (MIG) is acquiring Netherlands-based Zaypay, a mobile micropayments business that launched in 2006. Zaypay provides secure micropayment solutions to several hundred global customers through one secure platform.
“MIG’s vision for Zaypay is to build a one-stop shop for online and mobile monetisation solutions to merchants, online billing providers and developers globally," said Barry Houlihan, CEO and founder of MIG, a global mobile and digital technology business. “We understand that developers are driving our industry now and Zaypay is a platform that has been built by developers, for developers. Our aim is to build stronger relationships specifically with the developer community, to provide developers with a frictionless payment system that’s tailored to their platforms and to further understand and support their requirements around monetisation on an international scale."
A recent forecast from Generator predicts the worldwide market for mobile payments will grow to more than $633 billion and that mobile payment users will grow 600 percent – to 490 million – by 2014, so there’s plenty of opportunity in this space.
MIG will continue to operate Zaypay as a standalone business. Financial details of the merger were not disclosed.
In June 2010, MIG acquired mobile marketing and CRM provider Piri Limited and in February 2011 announced the acquisition of mobile technology, services and marketing company Golden Bytes International. This M&A activity, MIG says, has enabled it to broaden its technology and services offering across the mobile services value chain and to fast-track the reach of its products across the globe.
