Wednesday, May 04, 2011

Visa acquires Fundamo

I usually do not write about things that I am directly involved with, but I believe that this transaction is extremely important from an industry perspective that my blog would not be complete if I do not say something about it. More than ample news releases can be found on the web and much more capable analysts and industry experts have commented on it.

So just to ensure that I do have a placeholder in my blog about this event, I would like to comment on this in the following way:

This is a landmark event in the development of the industry. When the history of mobile banking in emerging markets will be written, this event will be mentioned as one of the defining moments. The effect of this transaction holds positive promise to all involved in the industry. It is an endorsement for using mobile to deliver advanced financial services to the poor and will unlock many of the factors that delay take-up today. This is good news for all.

6 comments:

jfouche said...

A proud day for South African IT!

BigChief said...

A truly defining moment!! Truth be said, I was not happy with the valuation though :) Congrats!!

BigChief said...

I was actually looking forward to the day Fundamo or any other MM venture would acquire Visa or Mastercard - Will keep hoping :)

iman said...

Xperteam congrats Fundamo
and Fundamo truly deserve the best

Frans Stander said...

Indeed such a turning point in the history of Mobile payment technology, ensuring that competitive major partnership ventures of recent times, will not be able to monopolise the international arena.

June 2011 will be remembered as the turning-point in this industry, when finally,... and not a moment too soon, this amalgamation will ensure a healthy and bright future on a truely global scale for the enhancement of a secure and deliverable technology, benifitting millions.

Another proud day for South African entrepreneurs who started off this venture more than a decade ago.

Dirk said...

Well done to you and your team, Hannes. It shows that hard work and dedication can pay off.