Cubed, a developer of Get CUBED mobile-first platform, has signed a Share Exchange Agreement with WikiTechnologies to acquire all of the issued and outstanding common stock of Wiki.
Following the acquisition, Cubed is keen to improve its mobile monetary transactions by fully consolidating the two WikiTechnologies’ platforms, WikiPay and WikiLoan, into Cube product offering.
Cubed CEO Joseph White said that the company is delighted with the plan to acquire WikiTechnologies, as it marks an important milestone in the execution of its business plan.
"Wiki’s WikiPay payment and money transfer platform will become our native merchant service, allowing all Cubers to transact mobile commerce seamlessly, without the onerous fees and red tape associated with third party providers," added White.
"This addition lays the groundwork for a series of logical steps toward our ultimate goal of leveraging worldwide mobile access to democratize opportunity one cube, one business and one community at a time."
As a Money Services Business, WikiPay offers payment and money transfer services to the merchants in a business-to-consumer, consumer-to- consumer, consumer-to-business and business-to-business model.
Meanwhile, WikiLoan is a lending platform that provides repayment schedules and documentation for loans, along with proprietary administrative tools that allow customers to securely pull credit reports and automate the loan repayment process.