23 October 2017
visit www.response.ncr.com

Visa agrees $190m PlaySpan acquisition

09 February 2011  |  10172 views  |  0 cash

Visa has stepped up its assault on the e-commerce market with the $190 million acquisition of PlaySpan, provider of a payments platform for digital goods.

Visa has agreed to pay $190 million in cash, plus extra payouts for performance milestones for Santa Clara-based PlaySpan, which, according to TechCrunch, was founded in 2006 by 12 year old Arjun Mehta.

PlaySpan provides what it calls a 'Monetization-as-a-Service' platform that allows merchants to make money from content such as game credits, premium memberships and digital goods. The UltimatePay product, enables users to make safe and convenient in-app purchases using over 85 global payment methods in 180 countries.

The card giant says its latest acquisition complements last year's $2 billion deal to buy online payment and security outfit CyberSource, giving it a foothold in one of e-commerce's fastest growing areas, digital and mobile commerce.

Visa cites research from JP Morgan claiming that global e-commerce sales last year hit $948 billion. Of this, digital goods is estimated to have accounted for a modest $25 billion but this is expected to soar to $280 billion by 2014, according to Forrester Research.

The acquisition is slated to be completed in Visa's fiscal second quarter 2011, pending regulatory approvals, and is expected to be slightly dilutive to earnings per share in fiscal 2011.

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

Hacker pleads guilty to theft of virtual poker chips

Hacker pleads guilty to theft of virtual poker chips

03 February 2011  |  10388 views  |  0 comments
Birth of a new currency: Facebook Credits to be mandatory for on-site games

Birth of a new currency: Facebook Credits to be mandatory for on-site games

25 January 2011  |  12250 views  |  0 comments
PayPal unveils micropayments system; Facebook on board

PayPal unveils micropayments system; Facebook on board

27 October 2010  |  11519 views  |  0 comments
Google to buy virtual currency outfit Jambool - TechCrunch

Google to buy virtual currency outfit Jambool - TechCrunch

10 August 2010  |  9787 views  |  0 comments
Payfone raises $11m

Payfone raises $11m

02 August 2010  |  8360 views  |  0 comments
Visa agrees $2bn CyberSource acquisition

Visa agrees $2bn CyberSource acquisition

21 April 2010  |  12620 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.niceactimize.comRegister now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19726 views comments | 31 tweets | 43 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15272 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11019 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9123 views comments | 15 tweets | 29 linkedin

Featured job

Find your next job