Type Limited company Services Payment services | Industry Financial services Founded 1996 | |
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Headquarters 71 Kingsway, London WC2B 6ST Parent organizations MasterCard, Mastercard Inc | ||
News update mastercard acquires datacash for 520 million
DataCash is a payment processing company which offers a global gateway to secure multi-channel payment processing and fraud and risk management services. Founded in 1996, it has been a division of MasterCard since 2010.
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History
Founded by entrepreneurs Gavin Breeze and Dave MacRae in 1996 as a payment gateway intended to serve the needs of the emerging e-commerce channel, a series of early mergers and acquisitions led to expansion within specific markets (notably, the airline and travel sectors) as well as coverage of the cardholder present environment.
In 2009, the company significantly expanded its fraud offering with the acquisition of The 3rd Man, a fraud and risk management technology company.
It has been a wholly owned subsidiary of MasterCard since 2010, when it was purchased for £333 million.
In early 2012, DataCash was announced as a white-label partner to supply Elavon's global e-commerce gateway in Europe, as part of the American bank's expansion plans. Similar announcements followed in 2013, most notably involving the Brazilian multi-brand acquirer Redecard and the shopping reward scheme Shopitize.