Independent cashless card network Pin4 has agreed to acquire controlling stake in Spain-based HalCash International (HCI).
Pin4 is the operating brand of HalCash North America (HCNA) in the US.
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HalCash International is a developer of HalCash system – a mobile-phone-based technology that enables real-time cardless cash withdrawals at ATMs.
The HalCash system, which is designed by ABANCA, Bankinter, Banco Popular, Cajamar and Caja Laboral, provides access to over 8,000 ATMs throughout Spain.
HCI conducted over 800,000 transactions last year and is expected to cross 1,000,000 transactions in 2017.
Commenting on the acquisition, Pin4 CEO Richard Witkowski said: “The ability to disburse funds to this consumer base regardless of card and bank status is invaluable to our customers—from retailers and marketing companies to banking institutions and remittance companies. Pin4 was built to meet this need. And, now, we are properly positioned to rapidly take this capability global.”
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