MPOS Vendor Aquires EWallet Provider WeXpay:

The mobile point of sale vendor, I Love Velvet says that it has just acquired WexPay, a provider of a refillable virtual prepaid credit card.

This move further expands the New York based company's position as the international market leader in the prepaid payment industry.

Patrick Bouaziz, CVO of I Love Velvet Inc., on the deal: "This expansion will enable I Love Velvet Inc., offer world-wide customers full secure turnkey solutions that provides a superior end-to-end experience, from the management of selling through the final payment."

WexPay supports more than 300 websites and over 8,500 point-of-sales locations in France. Bruno Ballan de Ballanse, will step into the role of Managing Director.