The St. John's, Antigua, payments technology company M2 Global Ltd. said Thursday that it had bought the prepaid debit card marketer First Pay Ltd.
M2 Global said that First Pay is now part of its newly created M2 Financial unit. It did not disclose the deal price.
First Pay offers Visa Inc. and MasterCard Inc. cards worldwide under its Globe Wallet brand. Joel Harris, First Pay's chief executive, has become president of M2 Financial.
M2 Global plans to market the Globe Wallet cards and its payments software, AuthEngin, as either a hosted or licensed offering for small and midsize companies. Mike Muscato, M2 Global's CEO, said in a press release: "Technically focused customers will license AuthEngin, while customers who prefer to focus on card program marketing can either buy a hosted, white-labeled, AuthEngin installation or outsource program operations entirely to M2 Financial."
