MasterCard has announced that it has entered into an agreement to acquire Provus Bilişim Hizmetleri A. Ş. (“Provus”), an independent payment solution and processing provider in Turkey.
MasterCard says the acquisition will build on its "strategy of increasing its processing presence in high-growth markets and deliver superior processing solutions and innovative value added services for both financial institutions and customers in the emerging prepaid and mobile payments space."
Founded in 2001 and headquartered in Istanbul, Provus’s customer base includes financial institutions, telecommunication service providers and retailers. Provus’s payments solutions business includes issuer and acquirer processing, prepaid solutions and ATM processing services.
Commenting on the acquisition, Javier Perez, President MasterCard Europe said:
“The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe. Turkey continues to be a very exciting and growing market and this acquisition provides an important platform that will enable us to not only serve customers locally but also to continue to deliver innovative payment solutions across the region.”The transaction, which is subject to regulatory approval, is anticipated to close in the fourth quarter of 2013.