Thursday , August 13, 2020

Mergers & Acquisitions

July, 2020

  • 24 July

    Repay Acquires cPayPlus and other Digital Transactions News briefs from 7/24/20

    Payment processor Repay Holdings Corp. acquired cPayPlus LLC, a provider of accounts-payable automation technology. Repay paid $8 million at closing and could pay $8 million more in 2021’s third quarter depending on cPayPlus’ achievement of growth targets.After a limited release in May, a 3-year-old challenger bank called Dave announced it will issue debit cards …

  • 20 July

    Its PayPal Deal Having Expired, eBay Acts on Its Global Ambitions for Managed Payments

    Free of the restraints of a legal agreement with PayPal Holdings Inc., eBay Inc. said early Monday it will now start on a global expansion of its 2-year-old managed-payments program. The program has already delivered $4.7 billion in total payment volume in the United States and Germany, the company said, …

  • 20 July

    COMMENTARY: How Their Open-Banking Buys Could Propel Mastercard And Visa

    The global retail-payment networks Mastercard and Visa are on a tear, acquiring and investing in adjacent payment-opportunity space in networks that can leverage and reinforce their existing franchises.  Their traditional payment schemes are dominant worldwide and near indestructible. While for the foreseeable future they could grow on autopilot, to their …

  • 9 July

    Wirecard’s U.S. Unit Draws Interest and other Digital Transactions News briefs from 7/9/20

    The U.S. subsidiary of failed German payment processor Wirecard AG is drawing strong interest from potential buyers, according to media reports. The Wall Street Journal also reported that the U.S. Justice Department is investigating whether Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace.Splitit Payments Ltd., which enables …

June, 2020

  • 30 June

    Wirecard’s U.S. Unit Bids for a New Owner As Rivals Sense an Opportunity to Win New Business

    The fallout from the Wirecard AG financial scandal has hit the U.S. market as the processor’s North American unit announced late Monday it is seeking a buyer. Wirecard North America Inc., based in Conshohocken, Pa., said it has engaged an unnamed investment bank to assist in the transaction. In the …

  • 25 June

    Paysafe Names New Acquiring And E-Commerce Heads As Payments Veteran Rawls Retires

    Paysafe Group on Thursday capped a recent restructuring of its payment-processing unit with the appointment of a chief executive for the unit’s U.S. acquiring division. Afshin Yazdian on July 1 will take over the division, one of two businesses formed with the splitting of the company’s payment-processing unit. Paysafe also …

  • 23 June

    With an $825-Million Deal for Finicity, Mastercard Picks up Open-Banking Tech for POS Credit

    Mastercard Inc.’s $825-million deal for Finicity Corp., announced Tuesday, may be aimed at ensuring a strong position in burgeoning markets like point-of-sale credit, but it could also prove handy as consumers struggle with the financial fallout of the coronavirus pandemic, observers say. The acquisition, which Mastercard says should close by …

  • 18 June

    Private-Label Debit Provider ZipLine Sold to PDI

    ZipLine, the provider of private-label debit payment services for convenience stores like Cumberland Farms, has been acquired by Professional Datasolutions Inc., a c-store software developer and services company. Announced Thursday, the deal will enable Alpharetta, Ga.-based PDI to bundle ZipLine’s private-label debit and mobile-payment app with its Marketing Cloud Platform. …

  • 18 June

    May E-Commerce Spending up 93% and other Digital Transactions News briefs from 6/18/20

    E-commerce spending in the United States surged 93% in May, compared to May 2019, according to Mastercard Inc.’s SpendingPulse data service.Installment-payment technology provider Splitit Payments Ltd. said it signed a multiyear deal with Mastercard Inc. to provide access to Splitit’s installment options through Mastercard’s merchant network. Split and Mastercard also plan to jointly …

  • 17 June

    Amazon To Use Mastercard Tokenization and other Digital Transactions News briefs from 6/17/20

    Mastercard Inc. announced Amazon.com Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on …

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