MasterCard Acquires Orbiscom to Aid Development of Payment Solutions
MasterCard has announced the acquisition of Orbiscom, a Dublin-based leading payments solutions software provider for major financial institutions. The purchase price is approximately US$100m, a portion of which is contingent upon the future performance of Orbiscom’s business.
The acquisition builds on the companies’ existing partnership that created MasterCard inControl, a platform featuring a selection of authorisation, transaction routing and alert controls designed to assist financial institutions in creating new and enhanced payment offerings. In 2008, Royal Bank of Scotland became the first financial institution to implement MasterCard inControl for its commercial card customers.
MasterCard says that the acquisition paves the way for more innovation and deployment of turnkey payment platforms such as MasterCard inControl.