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MasterCard buys Nets payment system

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MasterCard buys Nets payment system
August 06
13:00 2019

MasterCard (the second largest payment system in the world) is going to buy the Danish company Nets. The deal will amount to 3.2 billion US dollars. The press release issued by the company regarding a future transaction says that such a purchase will provide an opportunity to significantly improve technological solutions in the field of payments, which are carried out in real time. In addition to this, due to the Danish development, MC will be able to offer customers new products that are different from regular cards.

According to MasterCard innovation officer Michael Miebach, real-time payments have been the focus of ever greater attention in the market today. “The purchase of such a company will give us the opportunity to expand our functionality in this area. We will be able to work with different banks and satisfy the needs of our private and corporate clients,”said MasterCard top manager.

Closing of the transaction is scheduled for the first half of next year. Of course, to finalize the process, the buyer has to get permissions from all relevant authorities.

Nets is the largest payment system operator in Scandinavia. It serves about 400 thousand clients.

In preliminary trading, the MasterCard stock price rose 1.7%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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