SME Times is powered by   
Search News
Just in:   • UP govt approves new start-up policy  • Yes Bank case: ED attaches Rs 2,203 cr assets of Kapoor, others  • Thunderbolt 4 PCs expected later this year: Intel  • Samsung to make all Smart Watches in India, unveils 1st desi device  • Mastercard commits Rs 250 cr to support SMEs 
Last updated: 27 Sep, 2014  

MasterCard Acquires Opus Subsidiary ElectraCard Services

PR Newswire | 19 May, 2014
PUNE, India: Pune based Opus Software Solutions ("Opus") today announced that it has entered into an agreement to sell its entire stake in ElectraCard Services Private Limited, ("ECS") to MasterCard Worldwide. Opus specializes in providing IT Services to the Cards and Payments industry and is a technology partner to many large institutions in the payments marketplace.

This transaction is anticipated to close in the second quarter of 2014. MasterCard had earlier in 2010 made a minority investment in ECS.

ECS, based in Pune, India, is a leading provider of software products and processing services for electronic payments. Its customer base includes financial institutions, retailers and telcos in over 25 countries. ECS' suite of products enables 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.

Ramesh Mengawade, Chairman of Opus said: "We have had a strong relationship with MasterCard for many years now and are excited that the ECS team will continue its growth as part of the MasterCard family. Opus plans to grow its IT services business for the card and payments market globally and we will soon be making further strategic announcements."

Commenting on the acquisition, Vicky Bindra, president, Asia/Pacific, Middle East and Africa, MasterCard, said: "The acquisition of ECS strengthens our capabilities and enables us to offer a true end-to-end solution to our customers. ECS's expertise complements MasterCard's products and services, making us an even stronger player in the field of processing and switching. We welcome ECS and its talented team into the MasterCard family, and we look forward to working alongside them." 

About Opus Software Solutions

Opus Software Solutions is a specialized and leading provider of technologies, software products and integration services in the payments domain. Its solutions are characterized as adaptable, scalable and change responsive and cater to the demanding needs of the payment industry. Opus has provided solutions for clients in more than 25 countries that deliver millions of sub-second payment transactions and integrate multiple payment channels for seamless service delivery. For more information, please visit: http://www.opussoft.com

Media Contacts
Agnes Pathan
Opus Software
T: +91-20-309-25100
agnes.pathan@opussoft.com

Faizan Aboli
Ketchum Sampark PR
M: +91-98191-10224
faizan.aboli@ketchumsampark.com

SOURCE Opus Software Solutions

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 10 Jul, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Pain points for MSMEs(3)
» Starting an import export business: Basic guide for beginners(2)
» UP govt to change lives of migrants: MSME Principal Secy(2)
» China's forex reserves reach USD 2.85 trillion(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter