Mastercard Completes Acquisition of Nets’ Account-to-Account Payment Business
March 05 2021 - 6:00AM
Business Wire
Today, Mastercard (NYSE: MA) completed its acquisition of the
majority of the Corporate Services business of Nets, a leading
European PayTech company, having met the conditions set out by the
European Commission in its approval in August 2020. The additions
to Mastercard will support a broader set of account-to-account
capabilities, including clearing and settlement instant payment
infrastructure, bill payment and E-invoicing applications.
“Today is a significant milestone as we continue to build out
our multi-rail payment solutions beyond cards,” said Paul Stoddart,
president of New Payment Platforms, Mastercard. “This acquisition
brings top talent and innovative technology, enhancing our existing
multi-rail propositions to enable greater access, choice and
flexibility in how people want to pay and get paid.”
Over the past few years, Mastercard has continued to expand its
reach beyond card payments, executing on its multi-rail strategy.
The proven real-time and pioneering bill payment solutions of Nets’
Corporate Services complement Mastercard’s growing suite of payment
capabilities.
“Combined with Mastercard’s global network and customer
franchise, this acquisition further strengthens our position as the
payment partner of choice for governments, financial institutions,
consumers and businesses across all payment flows, in the Nordics
and beyond,” adds Stoddart.
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About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
www.mastercard.com
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Seth Eisen, seth.eisen@mastercard.com, + 1 914-249-3153 Andrea
Axon, andrea.axon@mastercard.com, +44 (0)20 3818 2816
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