MasterCard has announced that it has entered into an agreement with Opus Software Solutions Pvt. Ltd., (“Opus”) to acquire its subsidiary, ElectraCard Services Private Limited, (“ECS”), a leading global provider of software solutions and processing services for electronic payment and card systems. MasterCard previously had a minority investment in ECS. This transaction is anticipated to close in the second quarter of 2014.
ECS, headquartered in Pune, India is a leading provider of software products and processing services for electronic payments. Its customer base includes financial institutions, retailers and telcos in over 25 countries globally. ECS’ suite of products enables 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.
MasterCard’s acquisition of ECS extends its product offerings and adds to the company’s turnkey issuing processing, acquiring processing and switching solutions.