Card Not Present.com Ogone Acquires Tunz.com, E-Money License

Ogone Acquires Tunz.com, E-Money License

July 23, 2012

Belgian e-commerce payments processor Ogone has acquired e-wallet and mobile payment provider Tunz.com. Tunz, also based in Brussels and 40 percent owned by Belgian telecommunications firm Belgacom, provides Ogone with technology that enables mobile payments and an e-money issuer license that will enable Ogone to easily process cross-border e-commerce and mobile payments. Tunz’s e-wallet powers PingPing, a popular service in Belgium that enables contactless mobile payments at retail locations, parking facilities, vending machines and serves as an alternative payment method at many Belgian e-commerce Websites.

“Now is the time to invest in bullet proof innovative mobile e-payment solutions,” says Peter De Caluwe, CEO of Ogone. “Our choice to acquire Tunz.com was therefore a natural one, seeing that it has a solid track record in the matter and it also provides one-stop solutions for financial services, both of which will represent tremendous added value to our trusted clients.”

Financial terms of the agreement were not disclosed and the deal must be approved by the National Bank of Belgium.

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