MasterCard has announced the acquisition of Orbiscom, a Dublin-based leading payments solutions software provider for major financial institutions. The purchase price is approximately US$100m, a portion of which is contingent upon the future performance of Orbiscom’s business.
The acquisition builds on the companies’ existing partnership that created MasterCard inControl, a platform featuring a selection of authorisation, transaction routing and alert controls designed to assist financial institutions in creating new and enhanced payment offerings. In 2008, Royal Bank of Scotland became the first financial institution to implement MasterCard inControl for its commercial card customers.
MasterCard says that the acquisition paves the way for more innovation and deployment of turnkey payment platforms such as MasterCard inControl.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.