MasterCard International and National Data Corp. said Global Payment Systems, a payment processing company they created, is now in business.
Global Payment Systems, based in Atlanta, was formed from National Data's processing business and MasterCard's automated point of sale processing unit, known as MAPP. MasterCard and National Data agreed Feb. 22 to combine them.
MasterCard owns a minority stake in the new company and a seat on the board.
The companies said Monday that Global Payment Systems provides a base of hundreds of thousands of business and corporate locations, hundreds of domestic and international financial institutions, and a wide array of government agencies and taxpayers.
It also has a strong partnership with banks, providing a variety of electronic data interchange and cash management services.