Mastercard to acquire DataCash for 520 million

Payment service provider MasterCard Inc on Thursday said it will acquire European rival DataCash Group Plc for 520 million in an effort to expand its e-commerce business. Credit and debit-card processing network company MasterCard will buy DataCash at 360 pence a share,aggregating to 520 million,it said. E-commerce represents an important part of MasterCards growth strategy and this acquisition will allow us to provide new services to our acquiring customers,as well as drive increased e-commerce penetration in both existing and new markets, said MasterCard president and CEO Ajay Banga.