Kvanto Payment Services Ltd.: Kvanto to Acquire 51% of Mobil

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COPENHAGEN, Denmark, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Kvanto Payment Services A/S ("Kvanto") is pleased to announce the signing of an Agreement ("The Agreement") with Mobileware Technology Pvt. Ltd. ("MWT"). Under the terms of the agreement, Kvanto will own 51% of MWT in India to pursue the implementation of Kvanto's payment platform combined with MWT's existing payment processing technology and customer base. MWT will represent and move Kvanto forward through the exponentially growing digital payment processing market in India.
Mobileware has implemented digital banking products in leading banks in India, including Yes Bank and Kotak Mahindra Bank. Building on Kvanto's success with its proven state-of-the-art platform and coverage that reaches over 400 banks worldwide, and Mobileware's long-standing business relationships in India, this venture's combined technology is expected to become operational throughout multiple banks in India.

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