September 30, 2010 / 6:53 AM / 8 years ago

MasterCard says buys 12.5 pct in India's ElectraCard

MUMBAI, Sept 30 (Reuters) - MasterCard Inc (MA.N) said on Thursday it bought a 12.5 percent stake in Indian electronic payment services provider, ElectraCard Services.

Financial details of the deal were not disclosed.

The investment would extend MasterCard’s processing footprint and create more value for customers in the Asia-Pacific region, the Middle East and Africa, the company said in a statement.

ElectraCard, headquartered in the western Indian city of Pune, is a provider of software services for credit and payments management. (Reporting by Prashant Mehra)

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