New Delhi: MasterCard International Inc. said on Monday that it was acquiring ElectraCard Services Pvt. Ltd (ECS) from Pune-based Opus Software Solutions Pvt. Ltd, which specializes in providing information technology (IT) services to the cards and payments industry.

The companies did not disclose the size of the deal, which is expected to be completed in the second quarter of 2014. MasterCard had in 2010 acquired a minority stake in ECS.

“The acquisition of ECS strengthens our capabilities and enables us to offer a true end-to-end solution to our customers," said Vicky Bindra, president, Asia/Pacific, Middle East and Africa, MasterCard. “ECS’s expertise complements MasterCard’s products and services, making us an even stronger player in the field of processing and switching."

ECS provides software products and processing services for electronic payments and its customer base includes financial institutions, retailers and telcos in 25 countries.

“We have had a strong relationship with MasterCard for many years now and are excited that the ECS team will continue its growth as part of the MasterCard family," said Ramesh Mengawade, chairman, Opus. “Opus plans to grow its IT services business for the card and payments market globally and we will soon be making further strategic announcements."

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