Millicom, Kalixa Launch Payments JV in Latin America
Sept. 15, 2014
Swedish MNO Millicom and UK-based PSP Kalixa on Thursday unveiled a new joint venture that will offer payment acceptance services for businesses and consumers in Africa and Latin America. The companies will leverage Kalixa’s payment experience and Millicom’s user base in Latin America to offer an online payment gateway, POS solutions, one-click online payment and e-wallet provision. The JV will launch initially in Colombia, Millicom’s largest Latin American market targeting e-commerce merchants, with an eye toward expanding into Brazil and brick-and-mortar stores later.
"As developing markets, Latin America and Africa represent a combined $1.7 trillion opportunity for the payments industry," said Ed Chandler, CEO of Kalixa. "Our partnership with Millicom is the first step in making payments easier for merchants and consumers in these regions by offering a connected service with the full spectrum of payment services being offered under one roof. As we have already seen in Europe, by removing unnecessary links in the chain we can service customers more efficiently. This allows us to pass the value back to help merchants capitalize on the digital explosion happening in this region."