Mastercard announces its largest acquisition yet in further attempt to move beyond cards

An earlier version of this report incorrectly identified Nets as Dutch, not Danish. It has been corrected.

“It’s a significant acquisition for us but on the backs of three years of experience in real-time payments and increasing growth and excitement around real-time payments,” said Michael Miebach, the company’s chief product and innovation officer, in an interview with MarketWatch. He expects the deal will make Mastercard “a more relevant partner for banks” and others in the payments ecosystem.

Miebach sees the Nets assets as a way to strengthen Mastercard’s offerings in Europe, where Vocalink has already allowed the company to build up a presence in the U.K.’s real-time payments landscape. The Nets businesses give Mastercard positioning in areas like the Nordic countries, Hungary, and Slovenia.

The purchase “seems like another ‘monetization’ vehicle, as both Mastercard and Visa V, +2.14% are expanding their respective payments ecosystem, providing both networks with the ability to generate ‘beyond-traditional’ processing fees,” Wedbush analyst Moshe Katri told MarketWatch in an email. “This acquisition provides an incremental processing rail, focusing on real payments as well as analytics-related solutions.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Not yet over' — Stocks have further to fall before the selling subsides, say chart analystsExperts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached. Buy Litecoin safe your future. technicals
Source: CNBC - 🏆 12. / 72 Read more »

Mastercard to buy part of payments company Nets for $3.19 billionPayments processor Mastercard Inc said on Tuesday it would buy a majority of the... Good to here. But the statement is unclear about the truth meaning it refers... Less competition higher fees
Source: Reuters - 🏆 2. / 97 Read more »

Discovery Reports Solid U.S. Ad Gains In First Quarter Reflecting Scripps AcquisitionIn the first quarter of apples-to-apples financials since it closed the Scripps Networks Interactive acquisition, Discovery delivered solid advertising gains and beat Wall Street profit forecasts. …
Source: DEADLINE - 🏆 109. / 63 Read more »