MasterCard to acquire C-SAM

MasterCard today announced it has entered into an agreement to acquire C-SAM, a leading provider of mobile wallet and on-device software and services.

In acquiring C-SAM, MasterCard will speed the development and deployment of mobile wallets and payment solutions globally, including the rollout of its MasterPass digital service. Today’s announcement builds upon a global strategic partnership developed between the two companies in December 2012, as well as a minority investment by MasterCard.

C-SAM has powered many commercial mobile payments services in India, Japan (DNP), Mexico, Singapore (Starhub), the United States (ISIS) and Vietnam. The C-SAM platform also supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions. Adding C-SAM’s proven expertise in developing mobile platforms will support MasterCard’s work with financial institutions to bring new, innovative and secure solutions to market.

C-SAM’s on-device application and back-end infrastructure will aid development efforts to enable consumers to use MasterPass both in-store and online across multiple communications technologies, including NFC, QR/barcodes and remote checkout.

“Consumers today are living digital lifestyles, shopping in new ways using a range of new products and devices. Bringing C-SAM’s mobile expertise into MasterCard will help us launch a wider range of mobile and virtual solutions better and faster – bringing convenience and choice to consumers, while adding value to our expanding partnerships with telcos, governments and merchants,” said Ed McLaughlin, chief emerging payments officer, MasterCard.

“The acquisition of C-SAM is a significant milestone in our company’s history. While we have enjoyed a strong, longstanding relationship with MasterCard, the team is excited to be formally joining such an innovative and industry-leading organization to deliver end-to-end device-based solutions for service providers around the globe,” said Felix Marx, chief executive officer, C-SAM.

The closing of the acquisition is subject to regulatory approval and is expected to be completed in the first quarter of this year.

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