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MasterCard speeds up the ecommerce game with DataCash Group plc acquisition

master card logoMobile Commerce aka M-Commerce or mCommerce has quickly become a billion dollar industry, and is projected to reach numbers up to $633.4 billion by 2014, Generator Research. By definition Mobile Commerce is any transaction, involving the transfer of ownership or rights to use goods and services, which is initiated and/or completed by using mobile access to computer-mediated networks with the help of an electronic device, and with today’s technology this is becoming the norm. A acquisition like this may not seem shocking or even a big step in society today, but if you think back, even ten years ago, in comparison we might as well be landing on the moon for the first time. Perhaps we should rename this generation to generation smartphone!

Throughout the last few months we have covered some of the basic mcommerce features and basic info. How it all started, how the ipad changed everything, what are the best shopping apps etc. But whats next? With yesterdays acquisition announcement the chatter and ecommerce spaces have been buzzing away!

From the official Press Release - MasterCard to Acquire DataCash Group plc to Drive E-Commerce Payment Expansion

mobile commerceMasterCard believes the acquisition of DataCash will create a long-term growth platform, providing the company with the ability to:

  • Drive the growth of the e-commerce category in concert with MasterCards acquiring customers, thus increasing the use of MasterCard-branded credit and prepaid products, as well as MasterCard and Maestro-branded debit products, for online purchases particularly in Europe and other markets;
  • Expand and enhance MasterCards successful MiGS gateway business currently operating in the Asia Pacific region, enabling merchants to gain new market reach and access to value-added services;
  • Leverage MasterCards network and global presence to more rapidly drive the global expansion and adoption of DataCashs products and services beyond western Europe where a majority of DataCashs business is conducted today;
  • Combine DataCashs and MasterCards fraud capabilities and expertise resulting in end-to-end fraud screening and management services; and
  • Expand DataCashs platform and launch MasterCards new generation of e-commerce, mobile commerce and other payment products, enabling merchants to quickly accept these new forms of payments with minimal integration challenges.

E-commerce represents an important part of MasterCards growth strategy, and this acquisition will allow us to provide new services to our acquiring customers, as well as drive increased e-commerce penetration in both existing and new markets, said Ajay Banga, MasterCard president and chief executive officer. The acquisition of DataCash will expand our already significant e-commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide.

The mobile commerce world will continue to expand and grow with many other companies such as Bank of America and Visa testing out similar strategies. If you thought your phone could do everything now, guess again. Every day new apps and programs are built to enable us to basically live through our phones. Need to check your Starbucks card balance… just click the app, need to make a dinner reservation… just click the app… need to compare book pricing for two stores across the street… just click the app. The MasterCard and DataCash acquisition is news, and like any other news, there will be follow ups and additions soon. Europe and Asia will benefit the most from this announcement, but it’s important to stay updated! Stay tuned for more mcommerce and ecommerce announcements coming soon.

More Info:

Gigoam.com – Mobile Payments to Reach $633B by#2014

Gigoam.com – Hungry For Mobile E-Commerce, MasterCard Drops $520M on#DataCash

Fox47 – MasterCard acquires DataCash for $520M in cash

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