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Mastercard to Acquire Transfast, Expand Cross Border Business

The deal is likely to expand the company’s connectivity worldwide in the account-to-account space, enhance compliance capabilities and enable it to offer superior foreign exchange tools. Mastercard’s Mastercard Send solution for business-to-business (B2B) and person-to-person (P2P) payment services is already supported by Transfast. The deal will aid the company’s cross border business which has been witnessing growth as evident from an increase of 17%, 13% and 12% in 2018, 2017 and 2016, respectively. Recently, the company launched Mastercard Track, which solves key challenges in the procure-to-pay process, including managing supply chain risk and creating more transparency in the B2B payments process.

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