Intellitix acquires stake in LOC Pay Systems

RFID cashless payment solutions provider has acquired a controlling stake in LOC Pay Systems, which supplied 200 festivals and venues in Europe in 2016.

Netherlands-based LOC Pay Systems will continue to operate from its head office in Lochem, retaining 13 full-time employees managed by CEO Roland Wassink (pictured right).

Until this acquisition, Intellitix has grown organically. It currently aims to provide cashless RFID systems to 500 events in 2017.

Bringing the two companies together means that LOC clients will now have access to RFID technology, while Intellitix can draw on the expertise and experience of the Netherlands-based professionals.
 
Serge Grimaux (pictured left), Intellitix CEO commented: “There is a great synergy between our companies in our approach to delivering the best possible access control and payment systems to events.

“The acquisition of LOC Pay Systems aligns with our core belief that clients’ confidence to use new technology is centred around trust and proven track records. I am extremely proud to officially welcome the LOC Pay Systems team to our company.”

LOC CEO Wassink added: “Bringing Intellitix and LOC Pay Systems together makes us very unique for our mutual clients. We enjoy a very close understanding of our clients’ requirements and their events, so being able to offer them a range of payment options, from tokens to cashless RFID technology, will be a great advantage.
 
“We are very excited about being able to offer Intellitix’s proven technology not only for cashless but also for brand amplification and access control. This merger is a memorable moment in the history of payment solutions in our market and globally.”