Hey, Big Spender – MasterCard Buys DataCash For $520 Million In Cash

The news comes a couple of months after rival Visa acquired another major e-payment company, Cybersource, for a total consideration of approximately $2 billion in cash.

DataCash offers a single, comprehensive interface that provides e-commerce merchants with the ability to process secure payments across the world. The European payment service provider develops and provides outsourced electronic payments solutions, fraud prevention, alternative payment options, back-office reconciliation and solutions for merchants selling via multiple channels. The company also markets a fraud solutions and technology platform.

In 2009, DataCash says it processed more than 240 million transactions for more than 1,400 merchants in a variety of sectors. Last year, DataCash reported revenue of £36.9 million (US$58 million). The company employs 362 people worldwide with operations in London, Dublin, Mannheim and Cape Town.

Here’s how MasterCard president and CEO Ajay Banga pitched the buy:

“E-commerce represents an important part of MasterCard’s growth strategy, and this acquisition will allow us to provide new services to our acquiring customers, as well as drive increased e-commerce penetration in both existing and new markets.

The acquisition of DataCash will expand our already significant e-commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide.”

via techcrunch.com

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