MasterCard acquires ElectraCard Services

Monday 19 May 2014 09:16 CET | News

MasterCard has entered an agreement with Opus Software Solutions, a provider of software services to the payments industry, to acquire its subsidiary, ElectraCard Services (ECS), an Indian provider of software and processing solutions for electronic payment. MasterCard previously had a minority investment in ECS. Terms of the agreement were not disclosed.

MasterCard’s acquisition of ECS extends its product offerings and adds to the company’s turnkey issuing processing, acquiring processing and switching solutions.

ECS, headquartered in India, is a provider of software products and processing services for electronic payments. Its customer base includes financial institutions, retailers and telcos in approximately 25 countries globally. ECS’ suite of products enables customers to issue and manage all types of payment cards and electronically process card transactions across a number of channels such as ATM, POS, internet and mobile.

In recent news, ElectraCard Services has unveiled that the student prepaid cards program at financial institution Chase Bank, Kenya has been launched on the electra platform.

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Keywords: MasterCard, ElectraCard, services, ECS, electronic, payment, cards, Opus Software Solutions
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce