Kalixa Expands Its Market; Intuit Picks up the Check (May 27, 2014)
Processors continue to get scooped up in acquisition deals this month. Following Vantiv’s $1.65 billion purchase of Mercury Payment Systems and MasterCard’s Indian processor buy, Kalixa is extending its market reach to more than 100 countries with the acquisition of privately held payment processor PXP Solutions. The transaction, terms of which have not been disclosed, places London-based Kalixa in the top five payment service providers in the world, based on capability and payment options, including multichannel services, according to the company.
“Kalixa now has the scale and breadth of services, as well as the expertise and insight, to disrupt the global payments market and deliver a significant amount of added value to our merchants,” said Kalixa CEO Ed Chandler. “We are focused on introducing Kalixa Pro [small business banking solution] and Kalixa Pay [prepaid card] services to PXP’s extensive portfolio of merchants … and in the process diversifying into new sectors, such as retail, travel and leisure, and financial services.”
PXP’s in-store payments technology is used by 8,000 merchants in 27 countries, and its customers include Urban Outfitters and Burger King. Kalixa’s prepaid card Kalixa Pay received top honors this year in Paybefore Award Europe’s Top of Wallet category.
In other M&A news, Intuit Inc. today announced its intent to acquire Check, a mobile bill pay app developer, for $360 million in cash. The deal will help accelerate Intuit’s ability to offer bill pay services across small business and personal finance products, as well as create opportunities to retain, attract and serve additional customers, the company said.
Check’s app, which enables users to monitor and pay bills, complements some of Intuit’s other offerings, such as Mint, a personal finance management site, and QuickBooks, a popular business and financial management software. The bill pay app is used by more than 10 million customers, according to Check. The deal is expected to close in the fourth quarter of this year.
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