Tech venture builder firm Fatfish Group (ASX:FFG)
has acquired 55 per cent of Pay Direct Technology. Pay Direct operates QlicknPay, a payment gateway solution that allows financial institutions to onboard merchants in order to accept online payments.
QlicknPay currently processes more than A$32 million worth of payment transactions monthly, with an annual gross payment transaction volume of more than A$380 million.
Payment gateway technology is potentially an important infrastructure component for Fatfish. It could accelerate the roll-out of Fatfish's buy-now pay-later services across Southeast Asia.
Shares in Fatfish Group (ASX:FFG)
are trading 6.1 per cent higher at $0.122.