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.
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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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