Mastercard Completes Acquisition of Nets’ Account-to-Account Payment Business

Rhea-AI Summary

Mastercard (NYSE: MA) has finalized its acquisition of a majority stake in the Corporate Services business of Nets, a prominent European PayTech firm. This acquisition, approved by the European Commission in August 2020, enhances Mastercard's account-to-account capabilities, including instant payment infrastructure and bill payment solutions. Paul Stoddart, president of New Payment Platforms, emphasized that this milestone strengthens Mastercard's multi-rail payment solutions. The addition of Nets' cutting-edge technology bolsters Mastercard's position as a leading payment partner in the Nordics and beyond.

Positive

• Acquisition enhances Mastercard's account-to-account payment capabilities.
• Strengthens Mastercard's position in the Nordics and European markets.
• Adds innovative technology and talent from Nets to Mastercard's offerings.

Negative

• None.

Today, Mastercard (NYSE: MA) completed its acquisition of the majority of the Corporate Services business of Nets, a leading European PayTech company, having met the conditions set out by the European Commission in its approval in August 2020. 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.

“Today is a significant milestone as we continue to build out our multi-rail payment solutions beyond cards,” said Paul Stoddart, president of New Payment Platforms, Mastercard. “This acquisition brings top talent and innovative technology, enhancing our existing multi-rail propositions to enable greater access, choice and flexibility in how people want to pay and get paid.”

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

“Combined with Mastercard’s global network and customer franchise, this acquisition further strengthens our position as the payment partner of choice for governments, financial institutions, consumers and businesses across all payment flows, in the Nordics and beyond,” adds Stoddart.

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About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com

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FAQ

What is the significance of Mastercard's acquisition of Nets' Corporate Services business?

The acquisition enhances Mastercard's capabilities in account-to-account payments, including instant payment infrastructure, enriching its multi-rail payment solutions.

When was Mastercard's acquisition of Nets approved?

The acquisition was approved by the European Commission in August 2020.

How will the acquisition impact Mastercard's market position?

The addition of Nets' services is expected to strengthen Mastercard's position as a leading payment partner in the Nordics and broaden its service offerings.

What new capabilities will Mastercard gain from this acquisition?

Mastercard will gain access to advanced clearing and settlement solutions, bill payment, and E-invoicing applications from Nets.