Japanese IT giant NTT Data has purchased iPay88, an online payment service and payment solution provider in Malaysia, for an undisclosed sum.
Following the transaction, iPay88 will operate as a subsidiary of NTT Data.
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The acquisition is aimed at further expanding the company’s payment business in Malaysia and establishing a firm foothold in the online payment business in Asia-Pacific.
Integrating its IT solutions centered around the CAFIS with iPay88’s online payment business processing systems allows NTT Data to co-offer multiple advanced-and-competitive electric payment services.
Established in 2006, iPay88 has multiple financial institutions as business partners in Malaysia. The company is now focusing on mobile POS systems to capture card present transactions as value-added services in markets, with an aim to build a cashless society.
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By GlobalData
