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May 28, 2014updated 04 Apr 2017 4:07pm

Cubed signs agreement to acquire online payments company WikiTechnologies

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.

By Verdict Staff

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.

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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.

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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