MasterCard to acquire Turkish mobile payments processing provider
MasterCard today announced that it has entered into an agreement to acquire Provus Bilisim Hizmetleri A. S., an independent payment solution and processing provider in Turkey. The acquisition will build on MasterCard's strategy of increasing its processing presence in high-growth markets and delivering processing solutions and value-added services for both financial institutions and customers in the emerging prepaid and mobile payments space, the company said.
The acquisition, which is subject to regulatory approval, is anticipated to close in the fourth quarter of this year, MasterCard said.
Founded in 2001 and headquartered in Istanbul, Provus serves a customer base that includes financial institutions, telecommunication service providers and retailers. The company's payments solutions business includes issuer and acquirer processing, prepaid solutions and ATM processing services.
"The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe," Javier Perez, president of MasterCard Europe, said in the announcement. "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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