Singapore-based mobile point-of-sale (mPOS) company SoftPay Mobile International has signed an agreement to acquire Vietnam MPOS Technology JSC.
Clients of Vietnam MPOS Technology JSC include Mai Linh Taxi Group (one of the largest taxi groups in Vietnam), Lazada Vietnam (the largest e-commerce group in the country) as well as insurance companies.
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mPos is popular in South East Asia, where the majority of people living in rural areas have no access to traditional banking infrastructure.
"With this investment, SoftPay Mobile will be able to work closely with our new Vietnam MPOS company to further consolidate our market position as the leading MPOS company in Southeast Asia," says Christopher Low, CEO of SoftPay Mobile.
SoftPay Mobile is a venture-backed mPOS company that was incorporated in late 2014 with a presence in Vietnam, Malaysia, Singapore and Indonesia.
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