Daimler Financial Services Acquires Bitcoin Operator PayCash Europe to Launch Mobility Service “Mercedes Pay”
Daimler Financial Services, the global financial services provider of Daimler, is acquiring the electronic payment services provider PayCash Europe to develop a presence in the electronic payment (ePayment) sector. The German multinational corporation, which is one of the world’s leading automotive groups, intends to launch its own electronic payment....
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German auto giant Daimler AG, the company that owns several brands including Mercedes-Benz, has acquired Fintech firm PayCash Europe SA, a Luxembourg-based digital payments platform that includes a number of payment options including bitcoin. The acquisition is a strategic move by the corporation to venture into the digital payments space. More specifically, Daimler AG will launch its own electronic payment services platform under the banner “Mercedes pay”, the announcement revealed. The new feature will see ‘on-the-go’ payments enabled using a smartphone. Founded in 2012, PayCash Europe....
Daimler, the car manufacturer, has announced the acquisition of PayCash Europe. Financial services is a lucrative industry segment. With increasing interest in fintech and new-age payments systems, companies are trying to boost their existing portfolios through mergers and acquisitions. In one such instance, Daimler AG, the parent company of Mercedes-Benz, has taken over PayCash Europe. According to an announcement in one of the automotive magazines, Daimler Financial Services AG will be introducing its own payment service called Mercedes Pay. The acquisition of PayCash Europe will help....
It might come as a surprise but Mercedes-Benz will soon have a payment service by the brand name of Mercedes Pay, and thus it is acquiring PayCash Europe SA. PayCash Europe operates a number of services like Mobile Payment Solutions, E-Money Solution, Cryptocurrency related services and Voucher and Loyalty related services. The acquisition of PayCash Europe will be made by Daimler AG the parent of Mercedes-Benz through Daimler Financial Services. Why does Mercedes need PayCash? The primary aim of Mercedes purchasing a cryptocurrency company does not seem to be their interest in Bitcoin....
Mercedes owner Daimler AG has announced its takeover of PayCash Europe, a provider of Bitcoin payment services alongside others, in a move that will see the corporation venture into mobile payments. Mercedes Buys Bitcoin Services Provider. PayCash, which also offers solutions for Bitcoin and cryptocurrencies, is a Luxembourg-regulated licensed e-money transmitter. It will be used by Daimler to launch mobile payments for Daimler products and services under the Mercedes Pay brand. “‘Mercedes pay’ is a fundamental component of our mobility and digitization strategy,” Bodo Uebber, Member of....
Revamping our society will not be an easy task, as there are many hurdles to overcome. There is a lot of focus on the financial aspect for the time being, as this seems to be the sector most prone to disruption in the next few years. During the Crowdsourcing Week 2015 event, a lot of topics were discussed, including the mobility sector. Mobility is the....