MasterCard announced on Thursday its plan to acquire Turkish payment solution and processing provider Provus Bilişim Hizmetleri A. Ş in a deal expected to close by the end of the year.
The move is part of MasterCard’s strategy of boosting its processing presence in high-growth markets and to deliver value-added services for both financial institutions and customers in emerging mobile and prepaid payments spaces.
“The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe,” MasterCard Europe President Javier Perez said. “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.”
Founded in 2001, Provus’ customer base includes telecom providers, banks and retailers. Its business solutions include issuer and acquirer processing and prepaid solutions, as well as ATM processing services.
“Today’s announcement represents an exciting new chapter for our business, which has been delivering cutting edge payment solutions and processing services for both traditional and non-traditional customers in Turkey,” Provus CEO Tunc Dasar said. “We look forward to the future as part of the MasterCard family and are focused on delivering innovation in payment solutions and processing to the widest possible audience.”