Fastacash, a technology company that enables payments through social media and messaging apps, and Cellum, a mobile wallet provider, have entered into a strategic cooperation, according to a press release. 

Under the agreement, the two companies have combined their service capabilities and geographic reach with a plan to accelerate their global growth. Fastacash said it will integrate Cellum's top-security grade digital wallet product, mobile payment switching and card storage capabilities while Cellum takes advantage of fastacash's social media payment capabilities, improved user experience and user interface design.

Fastacash said the partnership with Cellum gives it access to new markets such as Austria, Bulgaria, Hungary, Japan and Thailand.

"Half the world's population is on social media networks and messaging apps — many are now using these channels to exchange money, disrupting how consumers transact," Vince Tallent, chainman and CEO of fastacash, said in a statement. "With Cellum, we are able to strengthen our service capabilities, extending wider, more comprehensive social commerce solutions to our customer networks."