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.
Sverige Senaste nytt, Sverige Rubriker
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