NEW YORK | MasterCard today announced that it has entered into an agreement to acquire Provus Bili?im Hizmetleri A. ?. (“Provus”), Turkey’s leading independent payment solution and processing provider.
Expanding Footprint in High-Growth Markets
The acquisition will build on MasterCard’s strategy of increasing its processing presence in high-growth markets and deliver superior processing solutions and innovative value added services for both financial institutions and customers in the emerging prepaid andmobile payments space. This transaction, which is subject to regulatory approval, is anticipated to close in the fourth quarter of 2013.
Payment Service Provider Provus
Founded in 2001 and headquartered in Istanbul, Provus’s customer base includes financial institutions, telecommunication service providers and retailers. Provus’s payments solutions business includes issuer and acquirer processing, prepaid solutions and ATM processing services.
Exciting Turkish Payment Market
Commenting on the acquisition, Javier Perez, President MasterCard Europe said: “The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe. Turkey continues to be a very exciting and growing market and this 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.”
Cutting Edge Payment Solutions
Tunc Dasar , CEO, Provus said: “Today’s announcement represents an exciting new chapter for our business, which has been delivering cutting edge payment solutions and processing services for both traditional and non-traditional customers in Turkey. 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.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
Provus, which runs its operation throughout 6 countries has targeted international growth also and has established its first operation center in Romania accordingly and soon started providing service for many banks in this country. PROVUS provides service to 59 domestic and international customers with 240 staff members with the required experience and qualifications, maintaining an infrastructure with and internationally approved reliability (PCI, Vendor Certification) and serves with 5.000.000 cards 100.000 POS’s and from the 5.500 ATM Provus infrastructure.
Chris Monteiro, Chief Communications Officer, MasterCard, Tel: +1-914-249-5826, Email: email@example.com
Rose Beaumont, Senior Vice President, Communications, MasterCard Europe, Tel: +32 2 352 52 35 or +44 (0) 20 7557 5199, Email: firstname.lastname@example.org
Selin Semigolu, Communications Manager, MasterCard Turkey, Tel: +90-212-351-9900, Email: email@example.com
Investor Contact: Barbara Gasper, Executive Vice President, Investor Relations, MasterCard, Email: firstname.lastname@example.org, Tel: +1-914-249-4565