Mergers & Acquisitions

August, 2024

• 26 August

  Shift4 Lays Out $148 Million in Cash for Gift Card Platform Givex

  

  Shift4 Payments Inc. announced Monday it has agreed to acquire Givex Corp., a provider of gift card, e-gift card, loyalty, and POS solutions in an all-cash transaction valued at $200 million Canadian, or $148 million U.S. The acquisition of Toronto-based Givex, which services the restaurant and retail industries, will add …
• 15 August

  FIS’ New P2P Payments Service and other Digital Transactions News briefs from 8/15/24

  

  FIS Inc. said it will make a peer-to-peer payment service from Neural Payments available to its banking customers. The white-label product enables bank customers to transfer money from their accounts to anyone, regardless of weather the recipient’s financial institution uses Neural Payments and without the need to download a third-party app …
• 12 August

  M&A Is Unpredictable, But Deals Are Emerging As CEOs Plan for Economies of Scale

  

  Payments has always been an acquisitive business, as economies of scale loom large for CEOs and CFOs and buying that scale can often look cheaper and quicker than building it over time. But so far, activity in 2024 is mapping to what was seen last year—which is to say, slow. …
• 8 August

  How Shift4’s CEO Looks to Build Shift4 Into ‘the SpaceX of Payments’

  

  Having finished what its chief executive called “a very busy quarter,” the major processor Shift4 Payments Inc. early Thursday reviewed recent moves in acquisitions, stadium deals, and point-of-sale technology, both for its longstanding position in the U.S. hospitality market and overseas. Even more ambitious initiatives are looming, promised chief executive …
• 7 August

  How Global Payments Looks to ISVs, Payfacs, And M&A to Spur Growth

  

  Global Payments Inc. remains invested in growing by acquisition, but it’s equally committed to growth via third-party agents such as independent software vendors and payment facilitators, its chief executive said early Wednesday as he reviewed his company’s June-quarter results and discussed its strategies in the two markets it straddles—issuing and …
• 7 August

  Toast Sites Balloon 29% and other Digital Transactions News briefs from 8/7/24

  

  Hospitality point-of-sale maker Toast Inc. said it now serves 120,000 merchant locations as of the end of the second quarter, a 29% increase from the same period a year ago. Its gross payment volume jumped 26% year-over-year to $40.5 billion. Toast posted second quarter revenue of $1.24 billion, a 27% increase from …
• 5 August

  NAB Rebrands as North and other Digital Transactions News briefs from 8/5/24

  

  Payments provider North American Bancard has rebranded as North. The independent sales organization, which debuted in 1992, said North is emblematic of upward movement. Its values, business strategy, and merchant commitment stay the same, North said in a blog post.  Nuvei Corp. said it will acquire Pay2All Instituição de Pagamento Ltda., a …

July, 2024

• 24 July

  Fortis Makes Acquisition and other Digital Transactions News briefs from 7/24/24

  

  Fortis Payment Systems LLC acquired the NetSuite payments division of MerchantE Solutions Inc. Fortis said the acquisition will boost its position in embedded enterprise resource planning payments. Terms were not disclosed. Mastercard Inc. and JPMorgan Chase are two of eight companies the Federal Trade Commission issued orders to seek information about products that …
• 18 July

  Discover Posts a Strong Quarter As Executives Stay Mostly Mum About Performance

  

  For the second consecutive quarterly earnings call, executives at Discover Financial Services had little to say about the company’s financial performance, plans going forward, or anything else. With a proposed $35.3-billion merger with Capital One Financial Corp. hanging over them, Discover executives again took no questions, and equity analysts were …
• 8 July

  Fiserv Small Business Index Dips and other Digital Transactions News briefs from 7/8/24

  

  Fiserv Inc.’s Small Business Index dipped four points in June to 140 amid a slowdown in consumer spending. Lower average tickets helped bring the separate transaction index down to 111 from 113 in May. Canada-based Digital Commerce Payments announced it has closed on its $1.5-million acquisition of the product information management business of Jasper …