UK-based online payment services provider PayPoint has revealed plans to acquire the entire share capital of Verrus Mobile Technologies and of Verrus UK for an initial consideration of GBP 25 million, according to the company`s press release.

Verrus is an international provider of services to parking authorities enabling consumers to pay for their parking by credit or debit card via their mobile devices. Via the company`s technology, consumers can link a payment card to their mobile phone and initiate payments using their mobile phones as the communication channel without disclosing payment card details. The company operates in the UK, France, Canada and the US under the Verrus and PayByPhone brands. PayByPhone is offered as an alternative to other payment channels such as meters, pay and display, pay at barrier and attended car parks.

Following the acquisition, the company will continue to be managed by Desmond Griffin (in Canada) and Robin Bevan (in the UK).