Fintech Select  has agreed to buy an online payment and e-wallet platform from Canada’s Mswipe Technologies.

The company is a provider of pre-paid card programmes, mobile banking solutions and cryptocurrency technologies,

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The Fintech Select online payment platform will also integrate with Fintech Select’s existing core platforms.

As deal consideration, the acquirer will issue six million common shares to Mswipe for the platform.

At the same time, it will issue five hundred thousand common shares as payment of finder’s fees to a third-party.

Fintech Select said that its in-house IT team has experience with the development tool used in the source code of the acquired platform. This, according to Fintech Select, will facilitate customisation of the platform.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Fintech Select CEO Mohammad Abuleil said: “We are very excited about this strategic acquisition. It will allow the Company to extend its integrated payment services globally to both businesses and individuals, and for the Company to play a leading role in this business segment.

“The total transaction value in the digital payments segment in 2018 was approximately US$3.4 trillion. It is expected to show an annual growth rate of 13.2%, resulting in the total amount of approximately US$6.335 trillion by 2023. Also, in 2018, the number of users of digital payments was approximately 2.9 billion and is expected to increase to 3.26 billion by 2023.”