Mobile Interactive Group (MIG) has acquired the global micropayments business Zaypay for an undisclosed cash sum.

Based in the Netherlands, Zaypay is a profitable mobile micropayments business that launched in 2006. To date the business has provided secure micropayment solutions to several hundred global customers through its secure platform. MIG will continue to operate Zaypay as a standalone business.

“MIG’s vision for Zaypay is to build a one-stop shop for online and mobile monetisation solutions to merchants, online billing providers and developers globally,” says MIG CEO and Founder, Barry Houlihan. “We understand that developers are driving our industry now and Zaypay is a platform that has been built by developers, for developers. Our aim is to build stronger relationships specifically with the developer community, to provide them with a frictionless payment system that’s tailored to their platforms, and to further understand and support their requirements around monetisation on an international scale.”

A recent report from Generator forecast that the worldwide market for mobile payments will grow to $633.4bn (£399bn), and that the number of mobile payment users will grow 600 per cent, to 490m, both by 2014.

Zaypay CTO Bastiaan Peters says that with the acquisition, the Zaypay business can be taken to the next level. “MIG is a well-respected business that has a strong reputation for developing robust global technology platforms,” says Peters. “It will be exciting to work with a group of such forward-thinking, innovative individuals who understand where the industry is going and who have a clear vision for the future.”