International Vending Services To Acquire Moneynet

IVS GroupInternational Vending Services (IVS) Group S.A., a Luxembourg based vending service provider serving Europe, has agreed to acquire Moneynet S.p.A., a provider of electronic money and payment services from Italy based Nexi Group. The expected purchase price for all of Moneynet’s shares is 100,000 EUR.

Moneynet provides payment services and assistance with the installation and maintenance of POS networks.

Venpay S.p.A., an IVS subsidiary, will activate new payment services on vending machines. The company has already developed payment systems that allow apps to be used by its vending machines. By the end of 2018 there were about 190,000 downloads and more than 40,000 returning users, compared to 65,000 downloads and 16,000 users at the end of 2017.

Venpay’s Coffec App allows users to recharge electronic wallets on their smartphones by transferring money from credit cards, and by paying cash at coin and banknote acceptors on the vending machines.

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