TANGO Software, based in Richmond, B.C., has agreed to sell a majority stake to ICOA, a broadband wireless Internet network provider.
TANGO, a specialist in digital security and payment processing software, has integrated processors with payment gateways including FDMS, Nova Systems, BCE AssurePay, and Moneris.
With ICOA's help and funding, TANGO will develop its own Internet Transaction Payment Processing Software to specialize in handling small online payments (micro-payments) in multiple currencies.
TANGO's engineers will work with ICOA's exisiting Authentication and Authorization Platform to speed up development of the new payment engine, which is expected to process billions of transactions that generate significant recurring revenue.
ICOA, of course, will capitalize by providing eCommerce payment systems to its existing WiFi and Internet customers.
The Warwick, Rhode Island-based broadband provider owns or operates access installations in high-traffic locations such as airports, quick-service restaurants, hotels and motels, travel plazas and marinas across 40 American states. ICOA's networks are compatible with the widely-used 802.11x technology and with virtually all Internet service providers.
The existing TANGO management team will continue to operate in Canada as an ICOA subsidiary serving its existing North American and international customers.
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