Mergers & Acquisitions

May, 2019

• 1 May

  Square’s Dorsey Not Troubled by the Acquiring Industry’s Mega-Mergers

  

  Square Inc. has been a non-traditional merchant acquirer since its birth nearly a decade ago, and a wave of industry mergers won’t change that, according to chief executive Jack Dorsey.  “I do think we will continue to see consolidation, but that doesn’t worry me,” Dorsey, who also is Twitter Inc.’s …

April, 2019

• 30 April

  Fiserv’s First Data Deal Remains on Track Despite Justice Request

  Core processor Fiserv Inc. continues to expect its $22 billion deal to acquire First Data Corp. will close in 2019’s second half despite a U.S. Department of Justice inquiry about the merger, Brookfield, Wis.-based Fiserv reported Tuesday. The Justice Department asked for more information and documents on April 4, though …
• 30 April

  Mastercard Will Remain on the Hunt for Acquisitions and Fintech Investments, Its CEO Says

  

  Mastercard Inc. has been active on the mergers-and-acquisitions front lately, and that’s going to continue, according to company president and chief executive Ajay Banga. The acquisitions typically involve financial-technology firms in all corners of payments. Just two weeks ago, Mastercard announced that it had acquired Vyze Inc., the provider of …
• 30 April

  With a Hurdle Cleared, FIS Expects to Close $43 Billion Worldpay Deal in the Third Quarter

  Fidelity National Information Services Inc. (FIS) on Tuesday said it expects to close its colossal $43 billion acquisition of payment processor Worldpay Inc. in the third quarter following a Federal Trade Commission ruling. The merger, announced in March, would create a processing colossus with payments services ranging from merchant processing, …
• 30 April

  PayPal’s iZettle Deal Gets U.K. Approval and other Digital Transactions News briefs from 4/30/19

  

  PayPal Holdings Inc. said the United Kingdom Competition and Markets Authority provisionally cleared PayPal’s $2.2 billion deal to buy iZettle AB, a European point-of-sale services provider. The deal closed in 2018. Processor First Data Corp. said merchant-processing revenues from North American clients rose 5% year-over-year in the first quarter to …
• 24 April

  Visa’s OK With Pending Mega-Mergers in the U.S. Payments Industry

  

  The pending acquisitions of two leading merchant processors by two leading core financial-institution processors are a “good thing,” Visa Inc. chief executive Alfred F. Kelly Jr. said Wednesday.  “We’ve got very good relationships and a lot of history with all four of these players,” according to Kelly. His comments came …
• 19 April

  First Data in Joint Venture To Buy Ireland’s Payzone and other Digital Transactions News Briefs from 4/19/19

  

  Allied Irish Banks p.l.c. and processor First Data Corp. formed a joint venture to acquire a 96% stake in Payzone, operator of Ireland’s largest retail payment network, for about €100 million ($112.5 million) including debt. AIB will own 75% of the joint venture and First Data 25%, according to The Irish …
• 17 April

  To Get Ready for PSD2, Stripe Buys a Developer of Strong-Authentication Tools

  

  In advance of a key European regulation taking effect late this summer, San Francisco-based payments provider Stripe Inc. has acquired Touchtech Payments, a developer of authentication software. Terms of the deal, announced Wednesday, were not disclosed. Founded in 2014, Dublin-based Touchtech specializes in code that establishes customer identities for financial …
• 9 April

  ACH Fraud up, Says AFP and other Digital Transactions News briefs from 4/9/19

  

  There has been a “noticeable increase” in fraud on credits and debits on the automated clearing house network, according to the latest “Payments Fraud and Control Survey Report” from the Association for Financial Professionals. Some 33% of responding organizations reported ACH debit fraud in 2018, up from 28% in 2017, …
• 8 April

  i3 Verticals Buys Net Data for $24 Million and other Digital Transactions News briefs from 4/8/19

  

  i3 Verticals Inc. completed its $24 million acquisition of Northeast Texas Data LLC and Graves Humphries Stahl LLC, collectively known as Net Data, which provides software services, including payment acceptance, to municipalities and local government agencies primarily in Texas. Millersville University adopted the ACI student payment portal from ACI Worldwide …