Ireland’s financial services group FEXCO, in partnership with BNP Paribas Personal Finance has acquired Luxembourg-based FLASHiZ, along with completion of subsequent funding.

The personal finance arm of French banking firm, BNP Paribas, has taken a strategic minority shareholding in FLASHiZ. The new shareholders will continue to finance FLASHiZ’s global expansion and addition of new features to its omni-channel product set.

Founded in 2011, FLASHiZ offers mobile payment solutions using both QR codes and NFC to enable consumers to pay in shops, online, make peer-to-peer transfers and pay paper invoices.

Deployed at more than 500 outlets, the company has built up a pipeline of new deployments in major European markets.

FEXCO managing director, Gavin O’Neill, said: "We’re extremely happy to welcome FLASHiZ as an integral part of the FEXCO Group.

"Together with our key strategic partners, we’re confident that we’ll be able to position FLASHiZ as a worldwide market leader in the area of mobile payment solutions."