MasterCard Nabs TNS Gateway Business to Bolster E-Commerce
Nov. 10, 2014
Reston, Va.-based networking technology provider Transaction Network Services (TNS) revealed it has agreed to sell its payment gateway services business to MasterCard. The parties did not disclose financial details of the deal. Under the agreement, MasterCard will acquire TNS’s e-commerce and card-present gateways, which the Purchase, N.Y.-based payment network will fold into its DataCash suite of payment gateways. The companies said MasterCard will look to leverage the e-commerce gateway to expand support for online and mobile commerce, especially in Latin America and North America.
"Digital commerce continues to be a key focus for MasterCard and the industry as a whole," said Andrea Scerch, president of DataCash at MasterCard. "The acquisition of TNS Payment Gateway Services reflects a continued enhancement of our capabilities to support our partners as they establish and solidify their presence in both the digital and physical worlds today and into the future."
Nearly two years ago, a group led by Siris Capital Group paid $862 million to acquire TNS. MasterCard and TNS said they expect the deal to close before the end of 2014.