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.”
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
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