Vimo Technology JSC, a mobile wallet provider, and Vietnam mPOS Technology JSC, which develops portable point-of-sale technology, will be combined and rebranded as NextPay Holdings, Bloomberg reports.Nguyen Huu Tuat, chief executive officer of mPOS, will become CEO of the combined entity.Nguyen Hoa Binh, who founded the two Hanoi-based startups, will be NextPay’s chairman.The combined company will have a presence in 11 cities across Vietnam, with more than 35,000 acceptance points.NextPay is in talks with investors to raise about US$30 million and anticipates closing the round soon, Tuat said.The capital will help the company as it plans an expansion into Myanmar and Indonesia in 2020.
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