MegaFon acquires mobile payment tools developer InPlat

MOSCOW. Jan 26 (Interfax) - MegaFon has acquired 100% of Intellektualnye Platezhi LLC (InPlat), a developer of mobile payment tools, the Russian mobile service provider said.

InPlat was acquired from entities of USM Holdings, MegaFon's owner, for cash in a deal that was closed in January, the company said. MegaFon did not disclose the price.

MegaFon said the acquisition will enable it to strengthen its fintech business and offer subscribers new convenient services.

InPlat is a key partner of MegaFon in the area of mobile commerce, handling 80% of payments from telephone accounts. The company has been operating on Russia's fintech market for more than12 years, offering online payment solutions to major players on the e-commerce market and telecom providers. Key projects for receiving payments in MegaFon services were launched with InPlat, the company said.

InPlat was registered in March 2010, the SPARK-Interfax analytics system showed. The company closed 2021 with a net loss of 115 million rubles on revenue of 698.6 million rubles.