Mastercard set to open new facility in Dubai

MasterCard announced this week it will buy Indian payments processor ElectraCard in a deal with undisclosed terms, the Wall Street Journal reports.

This follows news that MasterCard is opening a new integrated processing facility in Dubai, and last month's acquisition of Pinpoint, the Australia-based company that provides loyalty and rewards services in the Asia-Pacific region. MasterCard expects to close the deal to buy ElectraCard by the end of this quarter.

In Dubai, MasterCard is preparing to open an integrated processing center, the Kahleej Times reports. Set to open by the end of this year, the facility will focus on processing prepaid and debit payments.

Earlier this week, MasterCard released a new report looking at consumer preferences of those who are excluded from the financial system or are underserved in six emerging markets in Asia and the Middle East.

The survey identifies prepaid cards as a way to bring people into the formal financial system in a number of these markets. Prepaid cards give users a way to limit spending as well as store value, and they present a much lower theft risk in comparison to carrying cash. MasterCard has actively pursued prepaid in the Asia and the Middle East, claiming 40% growth for their prepaid business in these regions last year.
These initiatives are in line and complementing ever expanding field of information security in the region
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