Mergers & Acquisitions

January, 2024

• 3 January

  RDE Views Its CardCash.com Acquisition As a Boost in the Gift Card Market

  

  RDE Inc., owner of Restaurant.com, a popular dining-deals site, has closed on its acquisition of CardCash Exchange LLC, operator of CardCash.com, a secondary gift card marketplace. The deal advances RDE’s presence in gift cards for consumers and merchants. The combined business accounted for more than $100 million in revenue in …
• 3 January

  Kindcard To Acquire OpenTransact And Other Digital Transactions News briefs from 1/3/24

  

  Kindcard Inc., which among other services provides closed-loop payments technology connecting businesses and consumers, said it has entered a letter of intent to acquire OpenTransact from AcePay Inc. OpenTransact offers a banking platform that supports high-risk merchants. Terms were not disclosed. The tokens USDT and USDC dominate the stablecoin market, …

December, 2023

• 15 December

  With Sale Rumors Swirling, Shift4 May Be Traveling Down An Alternative Path

  

  With the payments industry abuzz since late Thursday with reports that the big processor Shift4 Payments Inc. is in talks to be acquired by Global Payments Inc.—reports Global Payments has denied— questions are emerging as to whether Shift4’s plans to grow through the exploration of strategic initiatives include a sale. …
• 7 December

  SoundHound’s $25 Million Acquisition And Other Digital Transactions News briefs from 12/7/23

  

  SoundHound AI Inc. said it will acquire SYNQ3 Restaurant Solutions, a voice artificial intelligence and technology provider for restaurants, in a deal valued at $25 million. Once completed, the deal will extend SoundHound’s services to 10,000 locations and more than 25 national and multinational chains. The deal is expected to close …

November, 2023

• 29 November

  Nuvei Launches Issuing Program And Other Digital Transactions News briefs from 11/29/23

  

  Nuvei Corp. launched card issuing in 30 markets in Europe with 2024 plans to expand it to the United Kingdom, the United States, and Latin America. The program enables clients to offer physical and virtual white-labeled cards. Payments-technology provider BHMI said it will market its software through a reseller agreement with NCR …
• 28 November

  Square Holiday Shopping up 14% And Other Digital Transactions News briefs from 11/28/23

  

  Square and Afterpay merchants counted 70 million transactions over the Black Friday-Cyber Monday holiday weekend, up 14% from the same period in 2022, Square said. In-person shopping increased 15% year-over-year. Amendments under consideration by Australia’s national government would impose on digital wallets like Apple Pay and Google Pay the same regulations as those enacted …
• 8 November

  Shift4 Embraces M&A As Its Finaro Deal Finally Closes And More Stadium Business Beckons

  

  The payments business may be shying away from the mergers-and-acquisitions market for the time being, but that’s not a strategy Shift4 Payment Inc.’s boss is interested in imitating. “Now, there’s a general distaste for acquisitions. That’s not a mistake we’re going to make,” declared Shift4 chief executive Jared Isaacman early …
• 7 November

  PSCU And Co-op Solutions Merge to Create a Potential Fintech Powerhouse for Credit Unions

  

  Long-time credit union service and financial-technology providers PSCU and Co-op Solutions announced a merger late Monday. The merged entity, which has yet to be named, will create an end-to-end payments system for credit unions of all sizes, PSCU chief executive and president Charles E. “Chuck” Fagan, promised during a press …
• 7 November

  CPI Revenue Drops 15% And Other Digital Transactions News briefs from 11/7/23

  

  Card manufacturer CPI Card Group Inc. reported $105.9 million in third-quarter revenue, a 15% decrease from $124.6 million in the 2022 third quarter. It had a profit of $3.9 million, a 67.2% decrease from $11.9 million a year ago. Cautious consumer spending and a focus on managing inventory levels likely had an …
• 1 November

  In His First Earnings Call As PayPal’s New Boss, Alex Chriss Leaves No Doubt Who’s in Charge

  

  Most new corporate chiefs keep a low profile for a time, perhaps tweaking their predecessors’ strategies but announcing few major changes. Not so Alex Chriss. PayPal Holdings Inc.’s new CEO, who took over Sept. 27 from long-time chief Dan Schulman, took the opportunity of his new company’s third-quarter earnings call …