The online processing subsidiary of Deutsche Telekom, ClickandBuy, was recently reported to close at the end of April 2016.
As of now, customers are being notified to clear out their accounts prior to the announced date. According to Deutsche Telekom, the reason for the discontinuation of ClickandBuy is due to its failure to keep up with the strong market competition.
A representative from Deutsche Telekom has confirmed that around a total of 80 jobs at ClickandBuy would be lost; however, refused to divulge information regarding payment volumes or the exact customer numbers.
ClickandBuy was founded in the year 2000. It is basically an e-commerce business that allows money transfers and payments to be made via the Internet.
With an estimate of 10 million customers, ClickandBuy was considered as the second-largest Internet-based payment service provider, with Paypal being the first.
In 2010, London-based ClickandBuy was acquired by Deutsche Telekom.
