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Mergers & Acquisitions | 4 May 2012

BCCL May Sell TimesofMoney To Network International

by Vivek Singh
BCCL May Sell TimesofMoney To Network International
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Bennett, Coleman and Co. Ltd is planning to sell TimesofMoney Limited, a remittance company to UAE based Network International LLC.

TimesofMoney is a digital payment service provider that offers specialized non-resident India services including money transfers, global money transfers, e-payments and co-branded cards.

Times Internet Limited controls the operations of TimesofMoney among its other Internet based businesses.

TimesOfMoney offers Remit2India and Remit2Home, money remittance services.

The company also offers business solutions like DirecPay, a payment gateway and iExchange, an online remittance tracker. For mobile payments, TimesOfMoney already has a partnership with PayMate, for its DirecPay, for online merchants. In addition to this, it runs Window2India, a retail shopping site and OutRemit, a RBI approved money transfer service offering online tuition fee transfers to educational institutions abroad.

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