FINO announces acquisition
2012-06-28FINO has announced the acquisition of prepaid mobile payment business of erstwhile Nokia Mobile Payment Services in India. With this acquisition, FINO having achieved significant scale in banking services, would be entering into the vast prepaid mobile payments space. In order to provide a smooth and quality service to its customers and maintain the dynamics of customer centric prepaid business, the new entity Alpha Payment Services India Private Limited (Alpha) (erstwhile Nokia Mobile Payment Services) would be operating as an independent company.
Manish Khera, CEO-FINO said, “Acquiring India’s prepaid mobile payment business from Nokia adds another feather to our cap. We believe that this initiative will take us beyond banking services to payments domain and enable direct engagement with customers. The assets we gain through this deal give us a distinct advantage in the market place.”
The new entity headed by Shweta Aprameya, will wholly focus on prepaid payment services and will offer services such as money transfers, utility bill payments, mobile & DTH recharges etc under the brand Takatak Money.
Gary Singh, GM & Business Head, Nokia Mobile Financial Services in India said, “Nokia is pleased that FINO will take over Nokia's obligations with regards to its mobile financial services in India and provide an opportunity for Nokia Money customers to continue to enjoy mobile money by transferring to Takatak Money accounts in the near future.”
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