Repsol Takes 70% Stake in Payment Startup Klikin

By Nathan AllenFeaturesDow Jones Newswires

Spain's Repsol SA said Thursday it has taken a 70% stake in online customer-loyalty platform Klikin, in line with the company's strategy to grow its mobile payment and promotions app, Waylet.

Waylet currently allows users to pay for fuel and other items at any Repsol gas station with their cellphone, according to the company's website.

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Repsol said it plans to eventually develop Waylet into a universal payment system that will work outside of its network of gas stations.

Neither company disclosed financial details of the deal.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

January 04, 2018 08:22 ET (13:22 GMT)