31 Jan '17, 3pm

Suddenly, Mercedes-Benz Buys Bitcoin Company

It might come as a surprise but Mercedes-Benz will soon have a payment service by the brand name of Mercedes Pay, and thus it is acquiring PayCash Europe SA. PayCash Europe operates a number of services like Mobile Payment Solutions, E-Money Solution, Cryptocurrency related services and Voucher and Loyalty related services. The acquisition of PayCash Europe will be made by Daimler AG the parent of Mercedes-Benz through Daimler Financial Services . Why does Mercedes need PayCash? The primary aim of Mercedes purchasing a cryptocurrency company does not seem to be their interest in Bitcoin even though they have not implicitly denied it. Bodo Uebber, Daimler Financial Services Board of Management member, reveals in a press release by the company: "Mercedes Pay is a fundamental component of our mobility and digitization strategy. Daimler's new payment system underscores our amb...

Full article: https://cointelegraph.com/news/suddenly-mercedes-benz-buy...

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