GlobeNewswire by notified

Kvanto Finalizes Agreement to Acquire 51% of Mobileware Technology to Combine, License and Expand Their Digital Payment Business in India


Kvanto Gateway Licensing Revenue to Commence This Quarter From Three Banks Under Contract With Mobileware

TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Kvanto Payment Services Ltd. and its wholly owned subsidiary Kvanto Payment Services A/S (“collectively Kvanto”) is pleased to announce the finalization of the acquisition agreement with Mobileware Technology Pvt. Ltd. (“MWT”) which resulted from the completion of the Due Diligence and Valuation process previously announced on December 22, 2020. The acquisition will allow Kvanto to license and pursue the implementation of its payment platform combined with MWT’s existing payment processing technology and customer base. License Revenue is expected to commence in this quarter from three banks under contract with MWT, who will represent and move Kvanto forward through the exponentially growing digital payment processing market in India.

Under the terms of the agreement, Kvanto will own 51% of MWT in India after full payment of the USD $4,750,000 acquisition price which is to be paid in installments over the next 15 months. An initial USD $250,000 was paid to MWT on signing.

The advantage MWT provides lies within its flagship product – TransXT – This is an API Banking platform that is considered as a proven state-of-the-art platform that extends a bank’s digital infrastructure/services to businesses as simple plugins. It gives single-point API access to banking products/services like Account Opening, Bill Payments, QR-Based Payments, Aadhaar Enabled Payments, Lending, Insurance, and many more. Fintechs have easy access to MWT’s platform through integrated SDK access over mobile and other devices. In the banking-tech domain, MWT offers digital payment switches and payment orchestration systems to large banks like Yes Bank, Kotak Bank, Fincare Small Finance Bank, Suryoday Small Finance Bank, NSDL Payments Bank, among others.

The Kvanto gateway has now been designed into the MWT solution. The solution under license is expected to go live in this quarter and begin generating transactional revenue immediately as the gateway rollout commences with the first three banks under contract with MWT.

When fully implemented the total amount of annual transactions in this cooperation is initially expected to yield approximately USD $14 million in licensing revenue directly to Kvanto, as their share of the annual transaction fees attributed to the Kvanto gateway. In addition, Kvanto’s consolidated financial results are expected to benefit materially when the acquisition of MWT is included.

This venture’s combined technology is expected to become operational throughout multiple banks in India.

Covid 19 caused delays in finalizing this acquisition in India and the overall advancement of the Kvanto business plan.  

The importance and timing of concluding this transaction also caused a delay in filing the Prospectus in Canada in order to apply to have the Kvanto shares listed on the Canadian Securities Exchange. This acquisition transaction and its timing has resulted in further disclosure which needed to be included in the Prospectus and in the Year end Audited Consolidated Financial Statements.

“We believe the delays we have experienced in our business plan caused by this transaction outweigh the timing of the listing and we expect that having this agreement in place prelisting will add value to the Company and its shareholders”, said Jesper Skorstengaard, CEO of Kvanto. “Albeit the listing process has been delayed, the timing for entering the Indian market is perfect”, he added.

“Our association with Kvanto happens at the right time when the digital payments industry in India is booming - it is expected to grow at a CAGR of 21.07% to reach US$71.561 trillion by 2025. In the pandemic, a lot more people opted for digital and touchless transactions, and the digitization of banking services under the Digital India campaign has further made it easier for people to access,” says Mobileware Technologies CEO Satyajit Kanekar. He further adds, “With Kvanto’s knowledge and experience in the digital payments space, we are sure to develop advanced products that will add value to the digital economy in India and overseas.”

About Kvanto Payment Services:

Kvanto competes in the rapidly changing digital payment solutions market. Client adoption has proven Kvanto’s competence in the industry.

As a premium European multi-connectivity payment service provider (holding a PSP-ISO), Kvanto has a world-recognized payment gateway that integrates leading acquirers, who handle different payment methods and payment cards, linking online and offline businesses efficiently, affordably, and reliably.

Kvanto has built an extensive network of partners and collaborators from across the world. They are well-equipped and experienced designers of payment solutions for customers no matter their location and presence.

Kvanto Payment Services AS, based in Denmark, is a 100% operating subsidiary owned by Kvanto Payments Services Ltd in Canada.

About Mobileware Technology:

MWT is in the business of creating and developing scalable payment solutions that simplify business and life for any organization that requires digital payment transactions. Their cutting-edge platform - TransXT - is a plug-and-play open banking API technology that is changing the way digital payments are made. Also called ‘bank in a box’ TransXT platform allows businesses to go live instantly.

The vertical agnostic and borderless platform create a payment marketplace for customers who require easy and instant access to digital payment methods, using banks as a channel of service. The technology enables banks, merchants, and startups to create monetization streams. It also fits perfectly with the existing systems, ensuring interoperability. Backed by innovation, Mobileware Technology solutions are for the rapidly changing digital payments requirements of banks, NBFCs, fintech companies, merchants, and consumers.

Furthermore, the platform also seamlessly integrates with international regulatory frameworks, enabling TransXT to be rolled out to various countries instantly.

For Further Information Contact:

Kvanto Payment Services A/S

CEO, Jesper V. Skorstengaard
Phone: +45 4033 3396


All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Kvanto Payment Services A/S is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Result of Riksbank´s purchases of Commercial Paper20.10.2021 10:00:00 CEST | Press release

AuctionAuction resultsAuction date2021-10-20Settlement date2021-10-22Credit rating class1Term3mFixed purchase rate, %0.3Total bid amount, SEK mln0Accepted volume, SEK mln0Percentage alloted, %0Number of bids0 AuctionAuction resultsAuction date2021-10-20Settlement date2021-10-22Credit rating class1Term6mFixed purchase rate, %0.4Total bid amount, SEK mln0Accepted volume, SEK mln0Percentage alloted, %0Number of bids0 AuctionAuction resultsAuction date2021-10-20Settlement date2021-10-22Credit rating class2Term3mFixed purchase rate, %0.6Total bid amount, SEK mln0Accepted volume, SEK mln0Percentage alloted, %0Number of bids0 AuctionAuction resultsAuction date2021-10-20Settlement date2021-10-22Credit rating class2Term6mFixed purchase rate, %0.7Total bid amount, SEK mln0Accepted volume, SEK mln0Percentage alloted, %0Number of bids0

Talenom Plc will publish its Business Review for January-September 2021 on Monday 1 November 2021 at 13:30 EET20.10.2021 09:45:00 CEST | Press release

Talenom Plc, Press release 20 October 2020 at 10:45 EEST Talenom Plc will publish its Business Review for January-September 2021 on Monday 1November 2021 at 13:30 EET Talenom Plc will publish its Business Review for January-September 2021 on Monday 1 November 2021 at 13:30 EET. The company’s CEO Otto-Pekka Huhtala will present the highlights of the Review for analysts, investors and media in Finnish, followed by CFO Antti Aho’s presentation in English as a live webcast that will be held on Monday 1 November 2021 at 14:00 EET. You can watch the webcast online at The presentation materials will be published before the start of the briefing on the company’s website at The briefing can also be followed at the company’s premises in Sanoma House (address: Töölönlahdenkatu 2, 00100 Helsinki). The registration is required at the latest on 27 October 2021, by email or by phone +358 207 525 403. TALENOM


Rovio Entertainment Corporation Press release ROVIO AND BILLEBEINO TEAM UP FOR A LIMITED-EDITION ANGRY BIRDS CAPSULE COLLECTION There's a new bird in town! The two Finnish companies, Rovio Entertainment and lifestyle brand Billebeino have collaborated on a new limited-edition Angry Birds capsule collection, in a deal brokered by IMG. The line features the iconic Angry Birds characters and a new exclusive character Bille Bird, based on Billebeino founder and former NHL player Ville Leino. The limited-edition garments land in select retailers and in the Billebeino online store today. The collection will include unisex casual wear and accessories for adults and children. The garments feature designs that combine the iconic Angry Birds characters with the minimalist and instantly recognizable logo and typeface styles that Billebeino has come to be known for. The aforementioned Bille Bird will appear in graphical placements that play on the fun and destructive nature of the Angry Birds, wit

PubMatic and Semasio Expand Partnership and Deliver Increased Reach for Omnicom Media Group20.10.2021 09:00:00 CEST | Press release

By activating Semasio’s audience segments within PubMatic’s Audience Encore, OMD Netherlands and OMG Germany engaged more consumers compared to DSP activation LONDON, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Today, PubMatic, a sell-side platform that delivers superior outcomes for digital advertising, and Semasio, a pioneer in Unified Targeting which seamlessly combines audience and contextual targeting on the buy- and the sell-side, announced an expanded partnership that enables media buyers to increase audience addressability at a user- and page-level. Semasio’s audience and contextual segments can now be activated directly in PubMatic’s sell-side platform (SSP) for rapid, precision targeting. With the prevalence of third-party cookies continuing to decline and consumer privacy paramount, it is important for agencies to re-define audience addressability strategies to optimise reach. A common concern when targeting data segments is the risk of suboptimal reach due to poor cookie match rates.

Nexstim Plc Business and Clinical Update Q3 202120.10.2021 09:00:00 CEST | Press release

Press release,Helsinki, 20 October 2021 at10:00 AM (EEST) Nexstim Plc Business and Clinical Update Q3 2021 Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces the key highlights of the Company’s business and clinical progress during Q3 2021. CEO Mikko Karvinen’sBusiness and Clinical Update I’m very happy to inform that following the strongest first half in the history of the company, our operational business has continued to show positive progress during the third quarter of the year. We have continued to focus on the growth of our Diagnostics Business (NBS) and Therapy Business (NBT®) new system sales in both of our key markets in the United States and Europe. At the same time, we have seen interest in our existing NBS and NBT® System customer base for system upgrades and continued to increase the utilisation rate of our installed base to a record level. This has led into steadily growing recurring revenue levels, which creates stability and a new kind of predictabil

Nexstim Abp:s uppdatering om verksamheten och kliniska framstegen tredje kvartalet 202120.10.2021 09:00:00 CEST | Pressemelding

Pressmeddelande, Helsingfors, 20 oktober 2021 kl. 10.00(EEST) Nexstim Abp:s uppdatering om verksamheten och kliniska framstegen tredje kvartalet 2021 Nexstim Abp (NXTMH:HEX, NXTMS:STO) (”Nexstim” eller ”bolaget”) redogör för de viktigaste händelserna i bolagets verksamhet och kliniska framsteg tredje kvartalet 2021. Vd Mikko Karvinens synpunkter på affärsverksamheten och kliniska framstegen Det gläder mig att kunna berätta att bolaget efter det starkaste halvåret i dess historia har haft fortsatt positiv tillväxt inom affärsverksamheten under tredje kvartalet. Vi har fortsatt att satsa på att öka försäljningen av nya system inom diagnostikverksamheten (NBS) och terapiverksamheten (NBT®) på bägge två av våra huvudmarknader, nämligen USA och Europa. Samtidigt har befintliga kunder för NBS och NBT® uppvisat ett intresse för systemuppgraderingar, vilket har bidragit till en rekordhög användningsfrekvens av den installerade basen. Som en följd har de återkommande intäkterna ökat, vilket ger

Yara reports improved returns20.10.2021 08:00:00 CEST | Press release

Oslo, 20 October 2021:Yara delivers improved returns reflectinghigher prices in third quarter.Net income was a negative USD 143 million, compared with a positive USD 340 million a year earlier. The negative net income includesa USD 355 million impairment ofSalitre assetsin line with Yara’sregulatory release dated1 August 2021,and a currency translation loss of USD 148 million. Excluding currency effects and special items, the basic earnings per share was USD 1.33 compared with USD 0.88 per share in third quarter 2020. The main elements of the third-quarter results are: Improved returns reflecting higher prices8.3% ROIC1, up from 7.9% a year earlier40% ammonia curtailment in Europe due to natural gas price spike “Yara delivers solid third quarter results, with EBITDA2 excluding special items up 37%, mainly thanks to improved margins. However, the gas price spike in Europe has led to Yara curtailing around 40% of its European ammonia production,” said Svein Tore Holsether, President and