MasterCard Acquires Pune Based ElectraCard, an Electronic Payment Solutions Company

EcsMasterCard is acquiring Pune headquartered ElectraCard, a subsidiary of Opus Software Solutions which provides software solutions and processing services for electronic payment and card systems.

MasterCard earlier held a minority stake in ECS. This transaction is anticipated to close in the second quarter of 2014. Details of the deal weren’t disclosed.

ECS had customers including financial institutions, retailers and telcos in over 25 countries. ECS’ products enable customers to issue and manage all types of payment cards and electronically process card transactions across multiple channels such as ATM, POS, internet and mobile.

In February 2014, MasterCard acquired Sam Pitroda’s Mobile Wallet Company C-Sam.

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