Dubai: Finablr, a global platform for Payments and Foreign Exchange solutions, has announced the acquisition of TimesofMoney, a digital payments solutions provider, from Network International.
TimesofMoney caters to institutions and merchants through its diverse portfolio of solutions, including mobile payment platforms, payment gateways and payment aggregation solutions. Clients include some of the leading banks, payment service providers, and global financial institutions. TimesofMoney’s proprietary solutions, which are underpinned by a highly scalable infrastructure conforming to industry-leading best practices, can now be leveraged by Finablr’s global network of companies.
“TimesofMoney has established itself as a category-leader in India’s digital payments sector, which continues to demonstrate robust growth buoyed by the popularisation of e-commerce and the digitisation of the country’s economy. The acquisition of TimesofMoney represents a strategic move for us. The company’s technology, which many of the world’s leading organisations trust to process payments, will be integrated into the Finablr network,” said Promoth Manghat, executive director and CEO of Finablr,
Leveraging the global presence of the Finablr network will enable TimesofMoney to expand into new markets, transforming itself from a large domestic player into an international powerhouse operating in the vanguard of the digital payments industry.