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PPI claims: MasterCard buys Datacash in £333m deal

MasterCard has agreed to buy electronic payments provider DataCash for £333 million, it has been revealed.

The online payment market has become increasingly competitive and MasterCard is aiming to expand its range of payment options. Major firms such as American Express and Visa have already developed their transaction methods.

Ajay Banga, MasterCard chief executive, claimed the deal will help the firm boost its presence throughout the world.

"The acquisition of DataCash will expand our already significant e-commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide," he said.

DataCash developed a single software interface which allows businesses to process payments securely online and offline.

Mastercard will pay 360 pence a share for the electronic payments provider, which represents a 53 per cent premium on the current value of DataCash stock.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt. ADNFCR-2776-ID-800034718-ADNFCR



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