MasterCard acquires Travelex prepaid card business
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MasterCard has announced that it has completed its acquisition of the Prepaid Card Program Management (CPM) operations of Travelex. The deal is intended to strengthen MasterCard’s suite of global prepaid business assets, especially outside of the US. The deal is reported to be worth GBP290 million (US$473 million) in cash, with an additional GBP35 million if certain performance targets are met.
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