MasterCard has completed the acquisition of Turkey-based independent payment solution and processing provider Provus Bili?im Hizmetleri.
Through this acquisition, MasterCard will be able to offer superior processing solutions and value added services for both financial institutions and customers in the emerging prepaid and mobile payments market.
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Founded in 2001, Provus’s customer base includes financial institutions, telecommunication service providers and retailers, while the payments solutions business offers issuer and acquirer processing, prepaid solutions and ATM processing services.
MasterCard Europe president, Javier Perez, said: "The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe.
"Turkey continues to be a very exciting and growing market and this acquisition provides an important platform that will enable us to not only serve customers locally but also to continue to deliver innovative payment solutions across the region."
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By GlobalData
