Canadian payments company First Global Data has formed a joint venture with RP Telebuy Skyshop to launch a digital wallet payment technology in India.
As per the terms of the arrangement, First Global Data will assume majority ownership owning 60% of the issued and outstanding securities of the joint venture company. In addition, Telebuy will also introduce First Global Data’s suite of products and services in the Asian market.
Go deeper with GlobalData
First Global Data president Andre Itwaru said Telebuy’s business and existing base of millions of customers provides First Global with immediate penetration into one of the largest consumer markets in the world.
"This is the first step in First Global’s India strategy which includes continued expansion of our mobile payment products and services in India and across the region," added Itwaru.
Telebuy, an online shopping company, has access to nearly 2.5 million customers and 60,000 merchants across its distribution network.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
