Nets Group

Nets Group — the payment service provider in countries of Northern Europe. The company founded in 2009 has the state more than in 2400 employees in five countries (by August, 2019). The headquarters of the company is in Copenhagen with branches in Oslo, Stockholm, Helsinki and Tallinn. Clients of Nets are banks, the private and state enterprises and also representatives of small business.

History

2019: Mastercard purchased Nets Group for €2.85 billion

At the beginning of August, 2019 Mastercard, the second in value payment system in the world, announced acquisition of Nets for 2.85 billion euros. It is the largest transaction in the history of Mastercard which, as expected, will be completely closed in the first half of 2020 after approval of regulating authorities.

Under the terms of the agreement, Mastercard will receive payment system, the platform for electronic accounts and also services of clearing calculations of Nets. Acquisition of assets of the Danish company will allow Mastercard to improve technologies in the field of payments in real time and to increase efficiency of transactions.

Mastercard buys the Danish payment system Nets for 2.85 billion euros

Assets of Nets will allow Mastercard to strengthen positions in Europe, as well as the previous purchase of Vocalink company. Nets will represent Mastercard in such regions as countries of Northern Europe, Hungary and Slovenia. By the beginning of 2019 the Nets network covers several European markets, but Mastercard hopes to expand it even more. In what new countries services will be available, it is not specified.

Though to MasterCard it is generally known as the operator of transactions on debit and credit cards, the company sees opportunities for development and in other payment flows. The transaction with Nets will help Mastercard to strengthen the position as the universal partner for satisfaction of requirements of any bank, trade enterprise or the government. The director of products and innovations of MasterCard Michael Mibakh said that the company is multi-profile.^[1]

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