Tirana-based software development company Dev.al has acquired a controlling majority of Rubicon, an electronic money institution (EMI) licensed by the Bank of Albania, and a principal member of Mastercard.

Dev.al has a client base of over 20,000 trading entities in Albania, and is recognised for its software solutions and customer-centric approach. With the takeover of Rubicon, the company is expanding into the financial services sector. 

“The purchase of the Rubicon control pack marks an important culmination in the Dev.al journey, entering the realm of financial technology electronic payment solutions,” the company said in a press release posted on its Facebook page. 

Rubicon, known for its popular instant payment app Pago.al, offers various services, including debit card issuance and POS devices for both in-store and e-commerce transactions. 

"We're excited to finalise this agreement," said Igli Gjelishti, founder and director of Dev.al. "Expanding into payment solutions was a logical step for us, given our expertise in billing and sales solutions. This move allows us to deepen our presence in the financial services sector and better serve our clients."

"We see great potential in partnering with Dev.al," commented Eno Kotmilo, CEO of Rubicon. "This collaboration strengthens our market position and enables us to offer comprehensive solutions to our clients. Together, we're well-positioned to lead the evolution of electronic payments in Albania and beyond."

Under the Dev Group umbrella, Rubicon and Pago will continue operating under their existing brands. According to the press release, “Synergies between the two companies will pave the way for improved product development, higher market penetration and better customer service”.