The provider of software and electronic payment processing to the online gaming industry announced the acquisition of SymCapital\’s entire 33% equity interest in PayTru Card Services for a consideration of six million ordinary IQL shares.
PayTru manages the issuance of pre-paid Visa-branded debit cards to consumers worldwide over the internet. Consumers use the internet to load value onto their PayTru card for any online purchase or money transfer. The PayTru card can also be used at any VISA atm or retail outlet.
Mike Muscato, Chairman and CEO of IQL, said: “PayTru brings together several industry leaders with extensive transaction processing resources that have recognised the competitive edge of one another\’s technologies. PayTru is already gaining significant acceptance with leading merchants worldwide.”
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