Payvia, a mobile payments company, today announced its acquisition of fellow Los Angeles-based Mogreet, which specializes in mobile marketing. The former is known for its innovative approach to mobile payments, in which purchases are added to the user’s phone carrier bill, rather than charged to a credit card. Through this deal, the terms of which were not disclosed, the company will be able to address more of its clients’ needs.
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The strategic acquisition of Mogreet allows Payvia to provide its clients a two-pronged approach to ecommerce, with branded communications that encourage engagement and a simplified payment process.
“"Our clients have told us they also need a simpler way to link targeted mobile transactions to their marketing campaigns,” said Payvia CEO Darcy Wedd, in a statement. “By integrating Mogreet's solutions on our platform we answer that need.”
Currently, Payvia reaches 120 million unique mobile users through its carrier-connected mobile payments platform, resulting in more than $2 billion in global revenue paid out to merchants and developers. Today, Payvia says it can offer high quality and faster messaging to Mogreet’s clients, along with international reach, the integration of Mogreet’s cloud-based messaging services into Payvia’s platform, and more.
“For the first time ever, marketers and merchants will now have a way to connect with their customers using text, picture and video messaging, but also to drive an immediate transaction via the simplest mobile payments platform in the industry," said Mogreet CEO James Citron.
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