Mastercard acquires Nets account-to-account payment business

Wednesday 7 August 2019 08:04 CET | News

Mastercard has entered into an agreement to acquire the majority of the corporate services businesses of Nets for EUR 2.85 billion.

The acquisition comprises the clearing and instant payment services, and e-billing solutions of Nets’ corporate services business. The addition of Nets technology is aimed to strengthen Mastercard’s existing account-to-account (A2A) capabilities. Post-acquisition, the company’s real-time payment assets will provide capabilities across infrastructure (complements Mastercard’s existing technologies, catering to a wider customer base) and applications for end-user solutions (such as bill payment and open banking solutions).

The acquisition provides scale to the Mastercard Send and Transfast technologies that deliver cross-border payments to bank accounts, mobile wallets, and cards. Mastercard’s A2A capabilities currently extend into continental Europe, to match its capabilities in the UK, Americas, Asia, Middle East, and Africa. The deal also complements the technical assets and partners added to Mastercard’s bill payment capabilities through the acquisition of Transactis.

The transaction is anticipated to close in the first half of 2020 and is subject to regulatory clearances and other customary closing conditions. Mastercard expects the transaction to be dilutive for up to 24 months after the deal closes, primarily related to purchase accounting and integration related costs.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: MasterCard, payments , Nets, banking, bill payment, Open Banking
Countries: World

Industry Events