MasterCard has agreed to acquire the Payment Gateway Services business of Transaction Network Services (TNS).
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TNS is a provider of data communications and interoperability solutions. Its Payments Gateway Services is comprised of two core businesses, an eCommerce gateway and a card-present gateway.
Upon completion of the acquisition, the Payment Gateway Services business of TNS will join DataCash in expanding MasterCard’s global payment gateway solutions.
"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, while enhancing DataCash and MasterCard’s fraud monitoring and mitigation capabilities," MasterCard said in a statement.
Andrea Scerch, president, DataCash, said: "Digital commerce continues to be a key focus for MasterCard and the industry as a whole.
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By GlobalData"The acquisition of TNS Payment Gateway Services reflects a continued enhancement of our capabilities to support our partners as they establish and solidify their presence in both the digital and physical worlds today and into the future."
The acquisition is expected to be closed in the fourth quarter of 2014.
Terms of the transaction were not revealed.
