Bruce Lowthers has been a man on a mission since taking over as chief executive at a struggling Paysafe Ltd. nearly two years ago, and early on Thursday he laid out an agenda for the work his company has yet to do. While he touted some improvement so far, “there …
Read More »An Active Year Helps Boost Results for Canada’s Nuvei
The big Montreal-based processor Nuvei Corp. has had a busy year since its headline acquisition early in 2023 of Atlanta-based Paya Holdings Inc., and late on Tuesday it disclosed how that activity has helped buoy its financial results. Nuvei, which was known until 2018 as Pivotal Payments, reported it processed …
Read More »Is Shift4 Seeking a Buyer? News Reports Say So, But the Company Stays Mum
Shift4 Payments Inc. went public in June 2020 after more than two decades as a privately held processor, but now its senior management may be looking for greater returns via an acquisition by an outside company. Both the processing giant Fiserv Inc. and a Spain-based reservations-processing company called Amadeus could …
Read More »With Appetize and Finaro on Board, Shift4 Plots Expansion in the U.S. and Europe
Having closed on two key acquisitions, the big processor Shift4 Payments Inc. is looking to expand its business in Canada and Europe and build on its new beachhead in sports arenas, top management said early Tuesday. With its $100-million deal last fall to acquire Appetize Technologies Inc. from SpotOn Transact …
Read More »Post Worldpay, FIS Looks to Share Buybacks And Growth in Digital Payments
Having completed on Feb. 1 a 55% spin-off of its massive Worldpay processing operation, FIS Inc. is now looking to concentrate on priorities including digital banking, real-time payments, and share buybacks, the company’s top executives said early Monday. Nor is the big Jacksonville, Fla.-based processor ignoring its potential gains from …
Read More »Block’s Dorsey: Cash App Is Your New Bank, And Square May Enlist ISOs
Block Inc. posted double-digit increases in net income for its December quarter and for 2023, but its co-founder and chief executive let it be known late Thursday the company has work to do. “Across the board, we’ve been going through an exercise in how we work so we can move …
Read More »For Cap One, the Pulse Network Is the ‘Rare Asset’ in Its $35.3 Billion Deal for Discover
(Editor’s Note: This story follows up on news late Monday concerning a planned acquisition of Discover Financial Services by Capital One Financial Corp.) On the Tuesday morning after news broke that credit card giant Capital One Corp. intends to shell out $35.3 billion in an all-stock deal to acquire Discover …
Read More »The EU’s Fine Against Apple in Its Spotify Case Echoes a Familiar Story
The European Commission is planning to announce a fine of about 539 million euros ($500 million) on Apple Inc. next month after investigating a complaint from Sweden-based music app maker Spotify Technology SA regarding Apple’s policy of restricting apps from linking out to their own sites for services such as …
Read More »Toast Reports a Robust 2023 And Fourth Quarter As Dining Maintains Its Rebound
Shares in restaurant point-of-sale specialist Toast Inc. were trading modestly up early Friday following the company’s release late Thursday of December-quarter and full-year results indicating double-digit increases in client locations and payments volume and offering further evidence of the hospitality industry’s recovery from the 2020 pandemic. The results came as …
Read More »Global’s ‘Profac’ Model Starts Paying Dividends for Its Acquiring Business
A new tactic Global Payments Inc. began pursuing last year is delivering continuing benefits for the company as its merchant-solutions unit saw year-over-year point-of-sale volume growth of around 20% in the fourth quarter, top management at the big Atlanta-based processor said early Wednesday. Much of the credit for the growth …
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