Mergers & Acquisitions

May, 2023

• 4 May

  Shift4 Busies Itself with Domestic Expansion As It Waits for Clearance on Its Finaro Deal

  

  Shift4 Payments Inc. is still waiting on approval from European regulators to complete its $525-million Finaro acquisition, but in the mean time the Allentown, Pa.-based processor has been busy expanding in its home market. That expansion includes yet other acquisitions aimed at consolidating Shift4’s grip on the restaurant point-of-sale market, …
• 2 May

  Rev Worldwide Closes Netspend Deal And Other Digital Transactions News briefs from 5/1/23

  

  Working with Searchlight Capital Partners, payments provider Rev Worldwide closed on its $1-billion all-cash acquisition of the Netspend consumer business from Global Payments Inc. Netspend is a specialist in prepaid and debit cards for more than 100,000 retail locations. Payments provider Finix Payments Inc. said it is now a payment processor, having completed direct connections to …
• 1 May

  Global Payments Looks for Big Results From EVO As Long-Time CEO Sloan Prepares to Leave

  

  The big processor Global Payments Inc. on Monday morning announced upbeat first-quarter results but also said its chief executive, Jeff Sloan, is departing after nine years in the role. Sloan, who will leave Global Payments June 1 and will be succeeded by long-time president and chief operating officer Cameron Bready, …

April, 2023

• 28 April

  How Tighter Money And Longer Diligence Have Slowed a Once ‘Frothy’ M&A Market

  

  A sort of disequilibrium has set in in payments mergers and acquisitions, leading to fewer deals and stretched out times to conclude the deals that do close, according to M&A experts who spoke this week at the Electronic Transactions Association’s Transact conference in Atlanta. The new dispensation contrasts sharply with …
• 27 April

  FIS Profit up 17.5% And Other Digital Transactions News briefs from 4/27/23

  

  Payment processor and core banking provider FIS Inc. posted first quarter revenue of $3.51 billion, a 0.6% increase from $3.49 billion in the same quarter in 2022. Its net income of $141 million was 17.5% greater than the $120 million profit a year ago. FIS’s merchant solutions segment had revenue of $1.1 …
• 26 April

  Visa Credit Card Volume up 5.2% And Other Digital Transactions News briefs from 4/26/23

  

  Visa Inc.’s U.S. debit card payments volume of $767 billion in its fiscal second quarter increased 9.6% from $699 billion in the quarter ending March 31 a year ago. Its U.S. credit card payments volume of $704 billion was a 10.5% increase from $638 billion a year ago. For all regions, Visa’s …
• 20 April

  Pulse Volume up 9% And Other Digital Transactions News briefs from 4/20/23

  

  Discover Network reported $54.1 billion in Discover Card volume for the first quarter, up 9.5% over the same period last year. Discover’s Pulse debit network processed $65.3 billion in volume, a 9% increase year-over-year. Revenue net of interest expense rose 29% to $3.75 billion, but net income dropped 21% year-over-year owing …
• 12 April

  Square Subscriptions Are Coming As Square Releases a Flurry of Nearly 100 Updates

  

  Square, the in-store and online commerce arm of Block Inc., says Square Subscriptions is in tests for Square Online users. The feature is one of nearly 100 updates the company announced Wednesday. Other notable features include Waitlists in Square Appointments and an integration with reservation provider OpenTable in Square for …
• 3 April

  POSaBIT Expands Its Footprint In Cannabis Payment Processing With Hypur Acquisition

  

  POSaBIT Systems Corp. strengthened its position in the cannabis-payments processing market with the $7.5 million acquisition of Scottsdale, Ariz.-based Hypur Inc., a provider of payment and compliance solutions to high-risk merchants, including cannabis dispensaries, CBD retailers, and merchants that accept cryptocurrency. POSaBIT says the acquisition will provide it with a …

March, 2023

• 22 March

  Familiar Names Grace the Upper Reaches of the Latest Strawhecker Merchant Acquirer Directory

  

  No surprise, the top merchant acquirer by payment volume remains JPMorgan Chase & Co., according to the 2023 edition of Directory of U.S. Merchant Acquirers from TSG, formerly known as The Strawhecker Group. With volume of $2.15 trillion, Chase retained the top spot last year that it has held since …