MasterCard acquires ElectraCard Services

MasterCard has announced that it has entered into an agreement with Opus Software Solutions to acquire its subsidiary, ElectraCard Services (ECS), a provider of software solutions and processing services for electronic payment and card systems.

ECS’ customer base includes financial institutions, retailers and telco’s in over 25 countries globally. ECS’ suite of products allowing customers to issue and manage all types of payment cards and electronically process card transactions across multiple channels such as ATM, POS, internet and mobile.

Vicky Bindra, president, Asia/Pacific, Middle East and Africa, MasterCard, said: “The acquisition of ECS strengthens our capabilities and enables us to offer a true end-to-end solution for our customers. ECS’s expertise complements MasterCard’s products and services, making us an even stronger player in the field of processing and switching. We welcome ECS and its talented team into the MasterCard family, and we look forward to working alongside them.”

Ramesh Mengawade, Chairman of Opus said: “We have had a strong relationship with MasterCard for many years now and are excited that the ECS team will be part of MasterCard enabling it to deliver turnkey processing solutions to its customers. Opus will continue its focus on growing its IT services business for the credit and payments market in the North America region.”

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