MasterCard, Inc, has announced the acquisition of Orbiscom, a Dublin-based payments services software provider for financial institutions, for some $100 million (£68 million).

MasterCard, Inc, has announced the acquisition of Orbiscom, a Dublin-based payments services software provider for financial institutions, for some $100 million (£68 million).

Orbiscom offers enhanced B2C, B2B and P2P payment services to the global payments industry, and its price tag includes a deferred element dependent on future performance targets.

MasterCard has stated that the acquisition paves the way for more innovation and deployment of turn-key payment platforms, such as MasterCard inControl.

“We are pleased to solidify our relationship with Orbiscom,” said Robert W Selander, MasterCard president and CEO.

“By adding Orbiscom’s expertise, intellectual property and talented team of innovative payments-industry professionals to MasterCard, we will further accelerate the development of new payment solutions for our customers.”