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Plextek, RedCloud complete acquisition of Iceni Mobile

Plextek, RedCloud complete acquisition of Iceni Mobile

Plextek and RedCloud have completed the acquisition of Iceni Mobile, an Essex based company best known for its innovative I2S mobile payments system. The companies plan to use the technology to create a new way in which mobile money and associated services are taken to market.

The I2S platform enables banks, payment service providers, and telecom operators to offer accessible and secure financial services to anyone with a phone. It was developed by the same team that created what is said to be world's most successful mobile money service, M-PESA.

"Plextek and RedCloud share a vision for extending the mobile payments value chain to transform the way in which financial services are launched in emerging markets," said Ian Murphy, technical director and founder of Plextek. "The next generation of mobile payments technology is about leveraging the power of secure cloud computing platforms; it's about a fundamentally better way to recruit, manage and empower banks to deliver mobile financial services."

"Our cloud financial services investment strategy is accelerating, and is at the root of the broad based transformation and innovation we are seeing from customers today," said Justin Floyd, founding partner of RedCloud. "The launch of the Platform as a Service model revolutionises mobile payments through banks and mobile operators in emerging markets. It's an important step to making technology available at a lower cost of ownership to those that need it most."

Simon Fogg

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