MasterCard completes acquisition of DataCash - 22Oct 2010

NEW YORK – MasterCard Inc. said Friday that it completed a $526 million acquisition of DataCash Group.

DataCash, based in London, provides merchants with electronic payment and fraud-prevention services. The move is expected to help MasterCard increase online use of cards that bear its name, particularly in Asia and Europe.

DataCash provides services primarily to European businesses.

MasterCard's much larger rival, Visa Inc., made a similar acquisition earlier in April. Visa's $2 billion deal for CyberSource Corp. was also intended to boost use of its branded cards, in part by strengthening its fraud-prevention technology.

MasterCard and Visa make money by processing transactions made on branded cards issued by member banks.

(AP)