Muscato Group, a provider of transaction and payment technologies, has expanded its European, Mideast, African and Latin American market presence with the acquisition of two financial payments services companies, M2 Financial and M2 Europe. The acquisition includes a portfolio of clients as well as processing certifications with Visa, MasterCard and JCB.
Muscato said that it combines the prepaid payment technology platform, patented fraud prevention tools and consumer friendly access points for its customers.
The acquisition is expected to strengthen Muscato’s position in card markets that include corporate payouts and incentive programs, travel related foreign exchange, mall gift programs, cross-border remittance, foreign worker payroll and more.
Michael Muscato, chairman of Muscato Group, said: “These acquisitions solidify our strategy for Europe and the Mideast, as well as other key markets around the world, where our fully-integrated financial payment system and industry-leading security is ideally suited for financial payments and e-commerce, including the emerging mobile payments market.
“Our strategy is to provide an industry-leading, safe and secure payment platform that will change the paradigm of card security awareness for both financial institutions and consumers.”