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Bloomberg
Mastercard Inc agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments.
With the purchase, Mastercard is getting an electronic-billing platform and clearing and instant-payment services, according to a statement on Tuesday.
The company said the purchase will hurt profit for as long as two years after it’s completed, which is expected in the first half of 2020.
Companies and governments around the world have been launching real-time payment syste-ms to speed up the movement of money between consumers and businesses, kicking off a race among banks and payment networks to capture those flows.