MasterCard Inc. is looking to tap into the growth of online payments worldwide.

The company said yesterday that it will pay $520 million in cash for London-based DataCash Group, which provides merchants with electronic payment and fraud prevention services.

The move is expected to help MasterCard bolster online use of its namesake cards, particularly in Europe and Asia.

MasterCard says the buyout will cut fourth-quarter profit by 5 cents per share. For the fiscal year 2011, the transaction is expected to break even, and to add to income in 2012.