Transaction Network Services (TNS), a provider of data communications and interoperability solutions, has entered into an agreement to sell its payment gateway services business to MasterCard for an undisclosed sum.
MasterCard will acquire TNS’ electronic commerce (e-commerce) and card-present payment gateways, which will become part of the DataCash payment gateway suite. The deal will enable DataCash to drive additional growth of the e-commerce category – and use of MasterCard-branded products – in North America and Latin America.
The combined offering will also expand the support for the next generation of online and mobile payments solutions through a quick integration with existing merchant and acquirer platforms. The transaction is subject to customary closing conditions and is expected to close before year end.
“At TNS, we have created a feature-rich, flexible payment gateway business with best in class infrastructure and availability,” said Mike Keegan, co-chief executive officer (CEO) at TNS. “Combining this business with DataCash’s offering will create a truly differentiated global digital commerce solution with increased development and distribution capabilities.”
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
HSBC arguing that mid-market businesses are missing out on huge exporting opportunities, 3D printing being predicted to cut global trade by 23% in 2060 and the blockchain community launching a voluntary transparency project all hit the latest headlines in the world of treasury this week.
Direct carrier billing is currently a competitive payments industry in Europe, but will it flourish under PSD2? EE and Microsoft think so.
The “sad truth” of banking is that many jobs will be automated in the future, Deutsche Bank's chief executive said yesterday. Despite this, a recent survey found that 98% of European workers are optimistic about the changes automation will bring to their workplace.