MasterCard makes strategic investment in India based ElectraCard Services
Strategic Investment to extend processing footprint, support processing strategy and create more value for customers in Asia/Pacific, Middle East and Africa. Mumbai, 30 September 2010: MasterCard Worldwide and ElectraCard Services today announced that MasterCard has taken a 12.5% stake in Pune headquartered ElectraCard Services (ECS), a leading provider for credit and payments management. The investment in ECS bolsters MasterCard’s overarching global processing strategy by further extending MasterCard’s product offerings and enhancing services across the full spectrum of the processing value chain not only in Inida but also in Asia Pacific, Middle East and Africa. Founded in 2006, ECS provides third party processing services and software for credit, debit and prepaid cards and EFT switching solutions to banks across 25 countries. ECS’ electra suiteprovides depth and capabilities to process in real time a variety of payment transactions. In India, ECS is the larges...