Monitise has announced the acquisition of Pozitron, a Turkish mobile money company.
Pozitron works with some of Turkeys largest financial insitutions, including Türkiye ?? Bankas?, the biggest bank in the country, as well others in the region, like QIB, Qatars largest Islamic bank. The company also works with large retail, gambling and ticketing players.
The buyout is a key strategic play for Monitise, not only giving it access to established organisations in Turkey and one of Europes largest credit and debit card-using countries, but also enabling the company to use Turkey as a gateway to the Middle East. Monitise is keen to be able to offer joined up mobile finance solutions around the world.
Pozitron, which was founded in Istanbul in 2000, will be rebranded in line with Monitises global brand.