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Payconiq to acquire Luxembourg-based mobile payments service provider

Mobile payments platform Payconiq will acquire Digicash Payments SA to expand into Luxembourg.

The acquisition is supported by ING Groep NV and KBC Group NV and supervised by Luxembourg financial regulator CSSF.

Payconiq originated from ING's innovation lab. The mobile payments service is already operational in Belgium and aims to roll out in Netherlands by the end of 2017.