MasterCard gets the issuer of prepaid cards for travelers

American payment system MasterCard gets a 458 million dollar business Travelex UK Release of prepaid bank cards for travel, according to RBC daily ». Division of Travelex launches prepaid debit cards Cash Passport for private clients as well as for companies. The deal will be done through payment in cash and is expected to close in the first half of 2011. As noted by MasterCard, the transaction amount could grow by $ 55 million if it satisfies certain conditions, which, however, the company did not disclose. In MasterCard expects that the acquisition will have a positive impact on earnings in 2013. "The acquisition of Travelex operations underscores our commitment to global businesses in the area of ??prepaid cards, which remains our key strategic focus", - said the deal CEO Ajay Banga MasterCard. The company notes that the deal will allow it to concentrate on operations in countries outside the U.S., and accelerate business growth in prepaid cards. Travelex is going to send the proceeds from the deal means for business development in Asia and Latin America. "Prepaid debit cards are increasingly used in North America and other parts of the world. And an increasing number of transactions taking place in electronic payments (which such cards are widely used. - Approx. "RBC daily»). The deal will allow MasterCard to expand its product portfolio, "- said the publishing analyst at IHS Global Insight, Mark Lauritano. Prepaid cards - one of the fastest growing segments of the market of bank cards. According to the forecast Boston Consulting Group, it will grow on average by 22% per annum and by 2017 reached the amount of 840 billion dollars worldwide. According Lauritano, interest, prepaid bank cards will be other major payment systems. Source: banki.ru