Mergers & Acquisitions

February, 2023

• 13 February

  FIS Announces a Spin-Off of Its Merchant Solutions Unit Less Than Four Years After Its Worldpay Deal

  

  In a quarterly earnings call held on short notice, top management at FIS Inc. confirmed early Monday the Jacksonville, Fla. -based company plans to spin off its merchant-services business within the next 12 months. The move comes less than four years after FIS acquired the big merchant processor Worldpay for …
• 10 February

  Global Payments Adds EVO But Cashiers Gaming And NetSpend As It Posts Record Volume for ’22

  

  The big transaction processor Global Payments Inc. is set to get significantly bigger by the end of March, its top executives stressed early Friday as they underscored the importance of scale in a business in which Atlanta-based Global processed a record 64 billion-plus transactions in 2022, according to chief executive …
• 6 February

  Marqeta Closes On Power Finance And Other Digital Transactions News briefs from 2/6/23

  

  Card-issuing platform Marqeta Inc. closed on its acquisition of Power Finance Inc., a credit card management service. The $275-million deal was announced Jan. 30. U.S. semiconductor maker MKS Instruments Inc. reported it is investigating a ransomware attack that happened last week, according to Reuters. The company said it is temporarily suspending operations at some its plants. A group …
• 1 February

  Ingenico Adopts Splitit BNPL And Other Digital Transactions News briefs from 2/1/23

  

  Point-of-sale technology provider Ingenico is working with buy now, pay later specialist Splitit to offer BNPL at the physical checkout using Ingenico’s payments-platform-as-a-service technology. Block Inc.’s Afterpay buy now, pay later service said it will enable access for users to New York Fashion Week beginning Feb. 11 and running for four days. Afterpay is …

January, 2023

• 30 January

  Gr4vy’s Tokenization Move And Other Digital Transactions News briefs from 1/30/23

  

  Gr4vy Inc., a payments-technology provider, has integrated network-tokenization services from Giesecke+Devrient GmbH into its platform in a move expected to improve authorization rates and cut transaction costs. Owlin, an artificial-intelligence technology developer, launched Owlin for KYC, said to be one platform to screen merchants and to ease onboarding, monitoring, and …
• 27 January

  POSaBIT Makes $4 Million Deal And Other Digital Transactions News briefs from 1/27/23

  

  POSaBIT Systems Corp., a point-of-sale system maker for the cannabis industry, said it will acquire MJ Platform, Leaf Data Systems, and Ample Organics from Akerna Corp. for $4 million in an all-cash transaction. The deal will almost double the number of locations serviced by POSaBIT and expands its operations in Canada. …
• 18 January

  Big Boy Goes Chainwide with Oracle And Other Digital Transactions News briefs from 1/18/23

  

  Oracle Corp. said restaurant chain Big Boy Restaurant Group LLC will adopt its Micros Simphony Cloud Point of Sale and Oracle Payment Cloud Service. Payments provider Paysafe Ltd. said it has expanded its processing services to sports betting in Ohio. The move follows on the heels of Paysafe’s entry in the Maryland sports-betting …
• 12 January

  Oracle Tweaks Contactless Acceptance And Other Digital Transactions News briefs from 1/12/23

  

  Oracle Corp. launched its Retail Payment Cloud Service to support contactless payments for U.S. retailers at fixed-fee rate pricing. Mercatus Technologies Inc. debuted an updated version of its mobile grocery shopping app that includes seamless cart building and checkout, personalization, rewards and loyalty, and third-party delivery service integrations. MobileCoin Inc. launched Moby, a …
• 11 January

  Card Spending up 5.9% in 2022 And Other Digital Transactions News briefs from 1/11/23

  

  Total card spending per household was up 5.9% year-over-year in 2022, according to new data from the Bank of America Institute. Kubra, which provides a payment network enabling consumers to pay bills with cash at retailers, said retailer Rite Aid joined its network, the 19th to do so. Blaze, a point-of-sale …
• 9 January

  Seeking to Be a Business Solution Provider, ISO Newtek Closes on National Bank of New York City,

  

  Newtek Business Services Corp., a provider of loans, merchant processing, and other services for small businesses, has completed its acquisition of National Bank of New York City. The acquisition agreement, which Newtek entered into in 2021, was subject to approval by the Office of the Comptroller of the Currency. The …