19 Aug 2010
US credit card company MasterCard has committed to buy London-listed internet payment company DataCash for £333m.
DataCash services include secure electronic payments solutions, fraud prevention, international payment services and various added-value options such as dynamic currency conversion.
Further reading
MasterCard has stated it needs to become more competitive in the global consumer cash payment and transfer market against popular web-based rivals such as PayPal.
A report in The Financial Times quoted Ajay Banga, MasterCard's chief executive, as saying: "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."
MasterCard hopes the acquisition will allow it to:
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