- Contribution of the CCV PhonePOS business unit through non-cash capital increase in RUBEAN AG
- Joint Tap-to-Phone development consolidated in RUBEAN
- Extensive cooperation to tap into large markets
Munich, June 24, 2021: The fintech company RUBEAN AG, Munich, (ISIN: DE0005120802, WKN: 512080, R1B:GR) and CCV Group (headquartered in Arnhem) will further intensify their partnership to tap into the growing Tap-to-Phone markets. Based on a letter of intent according to an ad hoc announcement dated June 3, 2020, the parties have now agreed to contribute the “CCV PhonePOS” business unit to RUBEAN AG. The transaction will be implemented through a non-cash capital increase, subject to approval by the next Annual General Meeting of RUBEAN AG.
At the same time, the partners have entered into an extensive cooperation agreement, primarily involving the development, support, and distribution of the jointly developed software PhonePOS. Accordingly, CCV Group will oversee the sales activities of the PhonePOS software in the D-A-CH and Benelux countries, while RUBEAN will establish and be responsible for sales in North and South America, the rest of Europe, as well as Asia, Oceania, and Africa.
For the non-cash capital increase, the issuance of 600,000 new shares has been agreed upon, based on a valuation report of the CCV PhonePOS business unit. Since RUBEAN had already decided on another capital increase, this time in cash, the share capital is expected to increase from 2,117,500 euros to 2,717,500 euros. The total number of RUBEAN shares will expand accordingly to 2,717,500 shares through the contribution. With the contribution, CCV and RUBEAN consolidate the jointly developed PhonePOS solution solely in RUBEAN, which is expected to experience significant growth in the future. PhonePOS is the leading solution for secure, cashless payment acceptance using an Android-powered smartphone, without the need for additional devices. In Germany, the Sparkassen-Finanzgruppe has already begun offering the PhonePOS solution nationwide under the name “Sparkasse POS”. Other major customers include the BBVA financial group, a leader in Spain and Latin America, as well as the globally operating payment service provider Global Payments from Atlanta, USA. The PhonePOS solution, which can be installed as an app on a conventional smartphone, is primarily targeted at small merchants and business owners. Based on market research, PhonePOS has identified a customer potential of 42 million in Europe, and a significant customer potential in the USA.
“After more than five years of development work and intensive joint efforts, we will now also benefit together from the fruits of our labor,” says RUBEAN board member Dr. Hermann Geupel. “Our PhonePOS solution consists of a mobile app and related online services, which are now being used by several leading banks and payment service providers to conquer a market for accepting mobile, cashless payments that is still largely untapped.”
Enny van de Velden, BoD member, spokesperson for the management board of CCV Group, and member of the supervisory board of RUBEAN, says: “We see Tap-to-Phone solutions as one of the most important innovations in the payment sector in recent years, which will significantly shape this market in the future. With PhonePOS, CCV and RUBEAN have gained an excellent market advantage, especially in Germany, with acceptance of the Girocard. As the anchor shareholder of RUBEAN AG, CCV will now further expand this advantage outside of the CCV core markets and strengthen the excellent and important partnership between the two companies.”
About Rubean:
RUBEAN AG is an established software manufacturer in the financial sector for 20 years. The company is growing with the development and marketing of the innovative mobile point-of-sale terminal solution called PhonePOS, which RUBEAN has developed together with its partner CCV. Since April 2020, RUBEAN has been listed on the Premium Segment m:access of the Munich Stock Exchange under the abbreviation R1B. Recently, RUBEAN shares have also been traded on Tradegate, Quotrix, and the Düsseldorf Stock Exchange, in addition to Munich, Frankfurt, and Berlin.
About CCV:
The international payment division of CCV stands for innovation and many years of expertise in all areas of cashless payment. With a holistic view of the customer journey, CCV offers omni-channel payment solutions for network operators, retail, hospitality, vending, EV charging, and mobility. The portfolio includes efficient standard solutions as well as customized developments, with a focus on large customers. CCV payment solutions are market leaders in the Netherlands and are also used in 22 other European countries. The CCV Group, headquartered in Arnhem (NL), has branches in the Netherlands, Belgium, and Germany.
