MasterCard is set to acquire European payment services provider DataCash Group for GBP 333 million, in a bid to drive the growth of its e-commerce business in both existing and new markets.
DataCash offers global processing payment services within a single interface. In addition, the company develops and provides various services such as fraud prevention capabilities, alternative payment options and back-office reconciliation for merchants selling their products via multiple channels.
In 2009, DataCash reported revenue of GBP 36.9 million and processed more than 240 million transactions for more than 1,400 merchants in various sectors, including retail, travel and leisure, entertainment, gaming and telecommunications.
With the new acquisition, MasterCard aims to achieve several goals, namely, to expand its MiGS gateway business currently operating in the Asia/Pacific region towards European markets, drive the global adoption of DataCash’s products and services beyond Western Europe and to merge the DataCash-MasterCard fraud capabilities in a single fraud screening and management offer.
The transaction is expected to close by the end of October 2010.