European mobile payment company Unwire has acquired the Swedish mobile ticketing company, InMoDo. It seeks to become Europe’s largest b2b mobile ticketing and payment technology company, particularly within the public transport industry.

Unwire currently generates more than €134m (£108m) per year in payment transactions and serves 2.5m travellers every month. It is currently investing heavily in the US and the rest of Europe.

Unwire CEO Gregor Bieler, a former MD of PayPal, said: “We are a b2b company delivering white-label payment solutions to companies and are therefore not in direct competition with the large scale consumer-facing payment giants like Apple or Google. Many companies, regardless of if they are b2c- or b2b-oriented, are racing to become the leader in the booming business area of mobile payments. The fact that most people today have a smartphone which they carry with them at all times has created an enormous demand for mobile ticketing solutions from both public transportation companies and users.”