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MasterCard Picks Up 12.5% In ElectraCard Services

MasterCard Worldwide has taken a 12.5% stake in ElectraCard Services (ECS), a Pune headquartered payments management solutions provider. Founded in 2006, ECS claims to be the market leader in Internet payment gateway solutions, and the largest third party processor for cards in India. ECS is a wholly owned subsidiary of Opus Software, and provides software solutions for management of payment services for credit, debit and pre-paid card services. They service financial institutions, retailers, finance companies and corporations to electronically process, in real-time, any type of payment transaction, including credit, debit, pre-paid, smart cards, and ACH. Apart from typical back office processing, ECS also offers ecommerce gateway and switching solutions. [reease]

Well, the potential clients for ElectraCard appears to expanding: 15 companies were given a license to offer digital payments in India, over the past year. You what they say – when there’s a gold rush, it’s the companies selling shovels that make the money.

Related:
The Digital Prepaid Payments Market In India Is Getting Crowded
Suvidhaa Raises $7 Million Series B Funding; Break Even By 2012, IPO 2014
Airtel Granted License To Offer Cash Card Services In India

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