41 employees will start negotiations with unions and management this Thursday afternoon, according to Paperjam.

According to commercial register documents, the fintech had accumulated debts of more than €23 million as of 31 December 2018. This obliged the parent company to proceed with a capital increase in October 2019 of more than €10m.

On 16 January, 2017, Daimler announced that it had acquired the start-up PayCash Europe before transforming it into Mercedes Pay. The service was designed for customers to pay for mobility and services via smartphone.

PayCash Europe, launched in 2012, had an e-money licence from the regulator and offered mobile payment, bitcoin management and e-wallet solutions.