LUXEMBOURG (dpa-AFX) - Kalixa, the payments service provider owned by bwin.party digital entertainment plc (BPTY.L), announced the establishment of a 50:50 joint venture with Millicom (MIICF.PK), an international telecommunications and media company dedicated to emerging markets in Latin America and Africa.
The joint venture, that comes just three months after Kalixa purchased the PXP Solutions card payment processing business, represents a significant step in continuing to build externally generated business volume and revenue. The joint venture would develop a payments service provider for Africa and Latin America. The operations are slated to begin in Colombia and Brazil later this year with Kalixa and Millicom each making an initial investment of $4 million and naming two directors each to the joint venture's board.
Payment acceptance services would be offered by the joint venture for both businesses and consumers, including payment gateway and point of sale solutions for merchants as well as a one-click payment and eWallet provision for online customers. This end-to-end payment solution would offer cross-platform, multi-device services.
The joint venture would benefit from Millicom's existing reach across Africa and Latin America through its high-profile 'Tigo' infrastructures in 14 countries and its online partnerships in 33 countries. Tigo provides a range of digital services including mobile communications, pay TV and platforms offering entertainment, mobile money, internet and broadband.
Copyright RTT News/dpa-AFX