Mastercard explores sale of payments unit it bought from Nets in 2019, FT reports

(Reuters) – Mastercard is seeking to sell the real-time payments unit that it acquired from Denmark’s ​Nets Group in 2019 for $3.2 billion, the Financial ‌Times reported on Thursday, citing people familiar with the matter.

The potential sale, for which the credit card giant has hired investment bankers, could ​draw interest from private equity groups, the report ​said.

Mastercard is likely to fetch a lower valuation than ⁠the price it paid for the unit, which brings ​about $370 million in annual revenue and around $100 million of earnings ​before interest, taxes, depreciation and amortization, FT added.

Reuters could not independently verify the report. The company did not immediately respond to a request ​for comment.

Mastercard in 2019 bought a majority stake in ​the corporate services businesses of Scandinavian payments group Nets, a transaction that ‌included ⁠its clearing and instant payment services, as well as its e-billing solutions.

The potential sale comes as Mastercard deepens its push into stablecoin infrastructure and blockchain-based transfers amid increasing regulatory clarity ​and surging ​usage.

Earlier this month, ⁠it agreed to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion.

The payment processor has been ​refocusing its investment priorities and earlier this ​year laid ⁠out plans to lay off about 4% of its workforce.

In January, Mastercard beat Wall Street expectations for fourth-quarter profit amid resilient ⁠spending ​as high earners continue to splurge ​on discretionary purchases despite concerns of economic uncertainty.