As part of the deal, FlexiGroup will purchase the assets of the Australian, New Zealand and Asian business of Paymate for an undisclosed yet not material sum which will be funded from existing cash reserves and by deferred equity consideration.
Australian online payments business Paymate has established relationships with 3,500 retailers, including eBay.
In recent news, Paymate has entered a partnership with US financial services company American Express to provide its US customers with the latter’s payment service.
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