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BREAKING NEWS

MasterCard buying DataCash

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MasterCard buying DataCash

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MasterCard is to buy the British payment service provider DataCash Group for the equivalent of 405 million euros in cash.

The deal is intended to expand MasterCard’s e-commerce business, particularly in Europe and emerging markets.

It is facing competition from more web focused rivals such as PayPal.

DataCash’s shares shot up by over 50 percent, hitting their highest in 10 years.