PURCHASE, N.Y.—Mastercard has made a majority purchase of a Danish company that offers an electronic-billing platform as well as clearing and instant-payment services.
As CUToday.info reported, the Federal Reserve also announced that it will move forward with its development of a real-time gross settlement service.
In its announcement, Mastercard said the acquisition of Nets "advances [its] strategy to capitalize on the vast and fast-growing global Real-Time Payments opportunity" and further strengthens the company's existing capabilities within the technology, reported NAFCU, which noted it has pressed the central bank to play an operational role in efforts to modernize the nation's payment system, and that it also supports private sector solutions and interoperability between the Federal Reserve's system and private operators.