Vienna and Bern, 23 July 2018 – DIMOCO, a leading payment institute for Direct Carrier Billing services, has announced the acquisition of Smarcom AG, setting course for a European market entry for physical goods.
By acquiring 75 percent of the equity stake of vending specialist Smarcom AG in Bern, Switzerland, DIMOCO sets to expand its European market leadership through addressing the European-wide vending operator market to connect their vending machines to the payment method Direct Carrier Billing.
Swiss market leader Smarcom AG, already enabling Swiss consumers to purchase vending machine goods, such as snacks and soft drinks, with their mobile devices, will be renamed in DIMOCO Vending AG. Andre Cuttat remains head of the management board and holds 25 percent of the equity stake of the company. The agreement shall be effective retroactively as of 1 January 2018.
DIMOCO is a European-wide regulated payment institute for Direct Carrier Billing and holds a payment service license from the Austrian Financial Market Authority (FMA), passported to all 28 EU member states. As a trusted partner of mobile network operators, it enables over 1.5 billion subscribers to purchase goods and services from merchants and aggregators with their mobile devices, charged via the operators’ billing system.