Bancorp announced a purchase agreement to acquire the MyCardData technology platform, Easybuy Website, the MyCardData technology platform, Easybuy website, and some other principal assets from Transact Network. This deal will help Bancorp expand its payment’s solutions into Europe and is set to close by the third quarter of 2012.
Frank Mastrangelo, President and COO of The Bancorp said, “The acquisition of this platform from Transact Network, a well regarded Pan-European electronic money institution, will establish a European Payment Solutions presence for Bancorp and facilitate European expansion for many of Bancorp’s existing “Payment Solutions” clients. It will also enable Bancorp to leverage its current BIN Sponsorship and Program Management Platforms for a wider set of European Payment solutions and offer enhanced products, flexibility, capability, and scalability. We will utilize our success and experience with our US payment solutions platform to grow our European presence.”
