Daily Management Review

Mastercard to buy Danish payment system Nets for €2.85 billion


American Mastercard, the second largest payment system in the world, has signed an agreement to purchase Danish technology company Nets A/S for €2.85 billion ($ 3.19 billion).

According to Mastercard’s press release, this transaction will allow the company to expand its capabilities in the field of real-time payments and provide customers with more reliable offers besides traditional credit cards.

“Global opportunities for real-time payments are growing,” says Michael Miebach, Director of Product and Innovation at Mastercard. “This deal will strengthen our unique position as a one-stop partner to meet the needs of any bank, merchant or government.” He added that Mastercard is a diversified company.

It is expected that the transaction will be closed in the first half of 2020 after receiving approval from the relevant regulatory authorities.

Nets is the operator of the largest payment system in Scandinavia, serving more than 400 thousand outlets.

source: bloomberg.com