News

Bango buys NTT DOCOMO's cross-border payment business

Wednesday 31 August 2022 13:44 CET | News

US-based fintech Bango has acquired the global payment business of NTT DOCOMO, Docomo Digital, for EUR 4 million.

 

In addition to the acquisition, Bango noted that it has inked a long-term platform deal with the company to provide payment services in Japan for the world’s biggest merchants. Bango aims to accelerate the expansion of its global partnerships with major customers through the recent acquisition.

Acquiring DOCOMO Digital strengthens bango’s position as a world leader in data-driven commerce. The decision by NTT DOCOMO to transfer its global payments business to Bango is an endorsement of its technology in the digital economy. Through the Bango Platform, telcos can leverage the universal appeal of the world’s biggest online brands, and digital merchants can immediately reach new customers. Both will benefit from data-driven insights, giving consumers greater access to goods and digital services.

 

Bango buys NTT DOCOMO’s cross-border payment business

 

Economic Underscores

Bango mentioned that the acquisition will bring an expected revenue contribution of USD 5 million in FY 2022 and approximately USD 16 million in FY 2023. On top of that, the recently acquired company brought a cash balance of EUR 3.1 million.

Bango’s officials stated that after many years competing with DOCOMO Digital, they know the business and the team well. This Acquisition of DOCOMO Digital is a key, strategic deal for Bango and solidifies its leadership in the market. With the support of NTT DOCOMO, DOCOMO Digital developed relationships with the high-quality operator and merchant customers, and they are excited to bring them the benefits of the Bango platform.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, cross-border payments, merchants, digital payments, ecommerce
Categories: Payments & Commerce
Companies: Bango, Docomo
Countries: World
This article is part of category

Payments & Commerce

Bango

|

Docomo

|
Discover all the Company news on Bango and other articles related to Bango in The Paypers News, Reports, and insights on the payments and fintech industry:
Discover all the Company news on Docomo and other articles related to Docomo in The Paypers News, Reports, and insights on the payments and fintech industry: