{"id":35991,"date":"2019-07-25T16:04:43","date_gmt":"2019-07-25T08:04:43","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=35991"},"modified":"2019-07-25T16:04:46","modified_gmt":"2019-07-25T08:04:46","slug":"mastercard-extends-payment-network-with-acquisition-of-transfast","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2019\/07\/25\/mastercard-extends-payment-network-with-acquisition-of-transfast\/","title":{"rendered":"Mastercard extends payment network with acquisition of Transfast"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Mastercard\u00a0announced the completion of the acquisition of\u00a0Transfast, a global payments company with significant cross-border network reach, on July 9.\u00a0Mastercard\u00a0originally\u00a0<\/strong><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/newsroom.mastercard.com\/press-releases\/mastercard-advances-cross-border-capabilities-with-acquisition-of-transfast\/\"><strong>declared the intent<\/strong><\/a><strong>\u00a0to buy Transfast on March 8, 2019.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The acquisition builds on&nbsp;Mastercard\u2019s strength in payments and drives improved transparency and certainty in cross-border transactions, enabling people and businesses to send and receive money beyond borders with greater speed and ease.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Transfast will enable&nbsp;Mastercard&nbsp;to continue servicing the growing needs of consumers and businesses as well as governments and merchants in cross-border transactions.&nbsp; It builds onMastercard\u2019s strategy to offer choice to its customers through the expansion of the&nbsp;Mastercardglobal network. This move adds to&nbsp;Mastercard\u2019s leading position in meeting business, government and consumer payment requirements, whether it\u2019s business to business, person to person or other payment flows.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Stephen Grainger, Executive Vice President,\u00a0Mastercard\u00a0says: \u201cToday\u2019s announcement is an exciting milestone for\u00a0Mastercard\u00a0in helping to further build democratised access to predictable and faster payments globally. People and businesses expect certain and predictable real-time payments that keep pace with modern life and everyday demands, and now, with reach into 90% of global GDP flows,\u00a0Mastercard\u00a0is in a prime position to support their cross-border requirements.\u201d\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Increasingly, people and businesses across the globe want timely, reliable and cost-effective ways to pay and get paid. The acquisition allows&nbsp;Mastercard&nbsp;to service businesses and organisations across a wider variety of sectors with different needs. This includes businesses paying suppliers and employees across borders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Samish Kumar, CEO of Transfast, comments: \u201cThis is a pivotal day for Transfast as we embark on the natural next step in our journey.Mastercard\u2019s global reach complements our own network across over 100 countries, and together we will grow within the account-to-account payments space, helping organisations improve operational efficiencies and supporting wider economic growth. Alongside\u00a0Mastercard, we look forward to developing new innovations and products to support people and businesses to predict and plan when they pay people and get paid, enabling them to thrive.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition builds on Mastercard\u2019s strength in payments and drives improved transparency and certainty in cross-border transactions, enabling people and businesses to send and receive money beyond borders with greater speed and ease. <\/p>\n","protected":false},"author":6,"featured_media":35992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[677,2100,3466],"class_list":["post-35991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-credit-card","tag-mastercard","tag-transfast"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/35991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=35991"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/35991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/35992"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=35991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=35991"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=35991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}