UAE-based payment solution provider Network International has acquired a majority stake in TimesofMoney, a digital payments and remittances firm owned by the Times Group for an undisclosed amount..AZB & Partners advised Network International with a team led by Partners Kalpana Merchant along with Senior Associate Jasmin Karkhanis and Associate Vivek Raja..TimesofMoney was advised by its in-house team..TimesofMoney is a global online remittance & digital payments player facilitating cross-border remittances & domestic payments..With this transaction, Network International has entered the online remittance business in a growth market. The company, present in 15 countries, is looking forward to expand the coverage in the global money transfer and the payment services space in India and South Asian countries, reports ET.
