04 December 2016
visit http://www.wolterskluwerfs.com

MasterCard to buy India's ElectraCard Services

19 May 2014  |  6996 views  |  0 Indian flag

MasterCard has agreed to buy Indian payments processor ElectraCard Services (ECS) from Opus Software. Financial terms of the deal have not been disclosed.

Founded in 2006, Pune-headquartered ECS provides software products and electronic payment processing services to banks, retailers and telcos in over 25 countries around the world.

MasterCard bought a 12.5% stake in the firm in 2010 and is now set to take the rest, securing turnkey issuing processing, acquiring processing and switching technology.

Vicky Bindra, president, Apac, Middle East and Africa, MasterCard, says: "The acquisition of ECS strengthens our capabilities and enables us to offer a true end-to-end solution for our customers."

The deal is expected to close in the second quarter.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MasterCard launches European incubator programme for commerce startups

MasterCard launches European incubator programme for commerce startups

07 May 2014  |  8820 views  |  0 comments | 12 tweets | 13 linkedin
MasterCard to buy Oz loyalty specialist Pinpoint

MasterCard to buy Oz loyalty specialist Pinpoint

17 April 2014  |  5857 views  |  0 comments | 3 tweets | 6 linkedin
Putin vows to build Russian rival to Visa and MasterCard

Putin vows to build Russian rival to Visa and MasterCard

27 March 2014  |  16591 views  |  14 comments | 30 tweets | 16 linkedin
MasterCard takes controlling interest in remittances joint venture

MasterCard takes controlling interest in remittances joint venture

19 December 2013  |  5297 views  |  0 comments | 6 tweets | 7 linkedin
Indian processors fingered over $45m ATM heists

Indian processors fingered over $45m ATM heists

13 May 2013  |  8195 views  |  1 comments | 7 tweets | 4 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit contisgroup.com

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6559 views comments | 23 tweets | 21 linkedin
UK challenger bank Masthaven opens for businessUK challenger bank Masthaven opens for bus...
5671 views comments | 15 tweets | 13 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
5636 views comments | 16 tweets | 21 linkedin
ING pulls plug on P2P payments app TwypING pulls plug on P2P payments app Twyp
5585 views comments | 16 tweets | 15 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5555 views comments | 13 tweets | 12 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job