The US card network will buy up to 9.99% of Network’s shares. The two companies will also work together to encourage more adoption of digital payments in the Middle East and Africa. Mastercard will become Network’s fourth-largest shareholder behind its current owners General Atlantic, Warburg Pincus, an Emirates NBD.
Network, initially formed as a subsidiary of Emirates NBD, enables retailers to take card payments in store or online in the region.
Earlier in March 2019, Mastercard agreed to buy Transfast, an international money transfer network. For more information about Mastercard Payment Gateway Services, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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