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Lynx Global completes acquisition of majority stake in BRB

Thursday 22 July 2021 14:55 CET | News

Canada-based financial platform Lynx Global Digital has announced the acquisition of a 100% interest in the issued and outstanding shares of Ausphil Technologies, an Australian company that holds a 52.15% equity interest in Philippines-licensed Binangonan Rural Bank (BRB).

According to a Lynx Global representative, BRB is joining the Lynx Global unified payment technology platform and can act as the organisational banking centre to facilitate the movement of money between operational entities and their clients around the world. Lynx plans to offer both local and international B2B and B2C customers a means of sending, receiving or making payments traditionally or digitally.

For Lynx, the BRB acquisition aims to bring the unbanked and underbanked to the fast-growing global ecommerce market. Lynx and BRB plan to expand the service offerings of BRB to include the issuing of branded prepaid cards, merchant acquiring ecommerce payment processing solutions, and a strategic POS & ATM/micro-ATM rollout.


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Keywords: acquisition, payment processing, mobile banking, ecommerce
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Canada
This article is part of category

Banking & Fintech