Mastercard to buy majority stakes of payment company Nets for $3.19 billion

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Mastercard to buy majority stakes of payment company Nets for $3.19 billion

US-based multinational financial services company & a global credit card issuer, Mastercard Inc., headquartered in New York, had issued a public statement on Tuesday, the 6th of August 2019, saying that the payment processing company had been an advanced stage talk with a Scandinavian payments group Nets to purchase a majority stake of its corporate service businesses at a €2.85 billion ($3.19 billion) buyout deal, widening its footprints further into the Nordic-Baltic regions.

Aside from that, the NY-based credit and pre-paid card issuer had been quoted saying in its Tuesday’s (August 6th) statement that the acquisition would be including an entire takeover of Nets’ instant payment services alongside e-billing solutions for Nets’ corporate service businesses.

In point of fact, latest expansion of Mastercard Inc. further into the Nordic-Baltic trade triangle, widely contemplated as a safe-haven to money laundering in the euro zone, would allow the US-based credit card issuer to executive cross-border payments to bank accounts, cards and mobile wallets.

Besides, amid a Fintech (Financial Technology) market backdrop where consumers’ behaviors have been evolving rapidly and global payment processing business would likely to mead more than $3 trillion a year in revenue by 2023, Mastercard Inc.’s latest expansion would allow it to access into one of the least-guarded markets in Europe.

Nonetheless, Mastercard Inc. has been looking to complete the deal as soon as by the first half of 2020, the company said.