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MasterCard to acquire Opus subsidiary ElectraCard Services

ECS is a provider of software solutions and processing services for electronic payment and card systems

BS Reporter  |  Pune 

Credit card and debit card
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Financial services company will acquire Pune-based Software Solutions subsidiary Services Private (ECS). is a provider of software solutions and processing services for electronic payment and card systems. This transaction is anticipated to close in the second quarter of 2014. had earlier in 2010 made a minority investment in Commenting on the acquisition, Vicky Bindra, president, Asia Pacific, Middle East and Africa, MasterCard, said: “The of strengthens our capabilities and enables us to offer a true end-to-end solution to our customers.

ECS’s expertise complements MasterCard’s products and services, making us an even stronger player in the field of processing and switching.” 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. Its customer base includes financial institutions, retailers and telcos in over 25 countries.

Ramesh Mengawade, chairman Software said, "We have had a strong relationship with for many years now and are excited that the ECS team will continue its growth as part of the MasterCard family. plans to grow its IT services business for the card and payments market globally and we will soon be making further strategic announcements."

First Published: Tue, May 20 2014. 20:47 IST
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