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MasterCard acquires Turkish payment solutions provider

January 8, 2014

MasterCard has announced the completion of its acquisition of Provus Bilisim Hizmetleri A.S., a Turkish independent payment solution and processing provider. The business offers issuer and acquirer processing, prepaid solutions and ATM processing services; clients include FIs, telcos and retailers.

The acquisition will build on MasterCard's strategy of increasing its processing presence in high-growth markets with processing solutions and value-added services for financial institutions, as well as customers in the emerging prepaid and mobile payments space, according to the company.

"The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe," said Javier Perez, president of MasterCard Europe. " ... [T]his 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."

"Today's announcement represents an exciting new chapter for our business," said Provus CEO Tunc Dasar. "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."

Terms of the deal were not disclosed.

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