Standard Bank acquires mobile payments company
Standard Bank in South Africa has acquired a majority stake in Firepay, a local company whose mobile payments service uses QR codes to complete transactions, according to multiple news reports.
The companies did not reveal terms of the deal.
Firepay partnered with Standard Bank in 2014 to launch the SnapScan service in South Africa. Approximately 30,000 merchants in the country now accept it as payment.