Mastercard completes acquisition of Nets' account-to-account payment business

Friday 5 March 2021 13:53 CET | News

Mastercard has completed its acquisition of the majority of the Corporate Services business of Nets, having met the conditions set out by the European Commission in its approval in August 2019.

According to the press release, 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. 

Over the past few years, Mastercard has continued to expand its reach beyond card payments, executing on its multi-rail strategy. Besides, the proven real-time and pioneering bill payment solutions of Nets’ Corporate Services complement Mastercard’s growing suite of payment capabilities.

Overall, according to the company's officials, the acquisition will further strengthen Mastercard's position as the payment partner of choice for governments, financial institutions, consumers and businesses across all payment flows, in the Nordics and beyond.

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Keywords: Mastercard, Nets, acquisition, account-to-account payment, instant payments
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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