MasterCard announced on Monday plans to acquire Opus Software subsidiary ElectraCard Services (ECS), an electronic payment and card systems software provider, by the end of the second quarter.
“We have had a strong relationship with MasterCard for many years now and are excited that the ECS team will be part of MasterCard enabling it to deliver turnkey processing solutions to its customers,” Opus Chairman Ramesh Mengawade said. “Opus will continue its focus on growing its IT services business for the credit and payments market in the North America region.”
Headquartered in India, ECS provides software products and processing services for electronic payments. The company serves financial institutions and retailers across 25 countries. Client-customers have the ability to manage and issue payment cards and process card transactions across numerous channels through the company’s suite of products.
“The acquisition of ECS strengthens our capabilities and enables us to offer a true end-to-end solution for our customers,” Vicky Bindra, the president of MasterCard’s Asia Pacific, Middle East and Africa division, said. “ECS’s expertise complements MasterCard’s products and services, making us an even stronger player in the field of processing and switching. We welcome ECS and its talented team into the MasterCard family, and we look forward to working alongside them.”