Mobile point of sale services provider I Love Velvet has purchased WeXpay, an electronic wallet company.
The purchase adds a payment gateway that could accommodate transactions from different countries to I Love Velvet's mobile point of sale components business, which serves airlines, large retailers, entertainment businesses and restaurant chains.
WeXpay supports more than 300 websites and has more than 8,500 point of sale locations in France that accept its virtual prepaid card.
"It is no longer enough to simply offer a single mobile point of sale solution," says Patrick Bouaziz, chief vision officer of I Love Velvet, in a press release. "Instead, we believe enterprises want more from their mPOS provider and I think this will be a key theme in 2014."
A number of mobile point of sale companies are adding other functions to increase their attractiveness to merchants. Square has added hardware and software features to lure larger merchants, Roam has diversified its services to appeal to different categories of merchants, and Leaf has added traditional merchant services to its in-store payment tablet.