Mergers & Acquisitions

November, 2020

• 19 November

  Payroc Acquires Bluestone Payments and other Digital Transactions News briefs from 11/19/20

  

  Payroc World Access LLC announced the acquisition of Bluestone Payments LLC, an independent sales organization founded by Linda Rossetti. Rossetti will remain Bluestone president and take on the executive vice president, strategic initiatives, role at Payroc. Terms were not disclosed.Payments processor Nuvei Corp. said its Nuvei Technologies Inc. unit has been approved by …
• 17 November

  Why Regulators Are Saying ‘Yes’ to Mastercard-Finicity But ‘No’ to Visa-Plaid

  

  Visa Inc. may be stymied for the time being in its quest to enter the increasingly crucial data-networking business, but its archrival Mastercard Inc. now expects to become a key player in that arena by the end of the year. That’s when the number-two card network says it will close …
• 13 November

  Priority Cites Platform Differentiation As Key to Better Results Amid the Pandemic

  

  Priority Technology Holdings Inc.’s third-quarter results have improved from a year ago, despite the Covid-19 pandemic generally weighing on the economy. The Alpharetta, Ga.-based payments provider said it had $109 million in third-quarter revenue, up 16.1% from $93.9 million in the same quarter in 2019. Its net income of $85.7 million …
• 9 November

  Its SPAC Merger Behind It, Paya Reports Growth ‘Momentum’ From ACH

  

  Paya Holdings Inc. is known for its base in integrated payments and for its processing concentration in card-not-present transactions. But what also became clear early Monday is its growing strength in bringing capability for automated clearing house payments to its roster of clients. “We have good momentum there,” said chief …
• 9 November

  PDI in Touch-Free Payment Service with NCR and other Digital Transactions News briefs from 11/9/20

  

  Professional Datasolutions Inc., which acquired private-label debit provider ZipLine in June, said it is working with NCR Corp. on a touch-free mobile payment service for the convenience-store industry.Payment card use among travel companies remained substantially down year-over-year, according to the Tracking Transaction Trends report from PSCU, a credit union service organization, for the …
• 6 November

  Visa Hits Back After the Justice Department Challenges the Network’s $5.3-Billion Plaid Deal

  

  Visa Inc. on Thursday delivered a rebuke to the Department of Justice’s antitrust lawsuit attempting to block its $5.3 billion acquisition of Plaid Inc., calling the lawsuit “legally flawed and contradicted by the facts.”  The Department of Justice, which had filed the suit hours earlier, charges that Visa’s deal for …
• 5 November

  Cash App Delivers for Square in a Tough Year for Merchant Processing

  

  In a year in which a fearsomely spreading virus has shut down many businesses and wrecked some, merchant-services provider Square Inc. has had to lean more heavily than ever on the other part of its business—the 7-year-old peer-to-peer payment service Cash App. And in the quarter ended Sept. 30, Cash …
• 5 November

  Lightspeed Arms Itself for Heavy-Duty Competition With Its Acquisition of ShopKeep

  

  Lightspeed POS Inc. on Thursday acquired ShopKeep Inc., a payments and commerce provider, for $440 million in cash and stock. Under the terms of the deal, Lightspeed will pay $145.2 million in cash and issue 9.5 million subordinate voting shares. The deal is expected to close by Dec. 31. RBC …
• 5 November

  Its Deal for 3dcart Catapults an Ambitious Shift4 Into E-Commerce Processing

  

  Shift4 Payments Inc. on Thursday jumped into e-commerce payments processing with both feet with its acquisition of 3dcart, a 23-year-old web-store platform with some 14,000 clients globally. Terms were not announced. The deal diversifies Allentown, Pa.-based Shift4’s product mix but also buttresses its long-term strategy aimed at moving merchants from …
• 3 November

  CPI Card Sales up 22% and other Digital Transactions News briefs from 11/3/20

  

  Payment card manufacturer CPI Card Group Inc. said net sales of debit and credit cards grew 22% year-over-year to $62.7 million in the third quarter. Net sales of prepaid debit cards dipped 1% to $20.6 million. For the nine months through September, credit and debit card sales rose 19% to $180.9 million, …