SIX, the Swiss payments processer, announced it has acquired Austrian bank-backed PayLife—a cashless payment company. SIX’s decision comes from its plans to expand internationally and become a more established card-based payment service providers in Europe.
The acquisition price was not revealed, however the sale of PayLife was previously approved by the Austrian Cartel Court earlier in the week.
At present, PayLife has 1.4 million cards in circulation, and had over 195 million transactions completed in the first six months of 2013.
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