Mergers & Acquisitions

February, 2024

• 26 February

  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 …
• 20 February

  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 …
• 19 February

  Capital One May Acquire Discover. What Could That Mean?

  

  Capital One Financial Corp. may be on the brink of acquiring Discover Financial Services, if two news reports are accurate. The Wall Street Journal and Bloomberg.com separately reported on Monday a deal between the two credit card juggernauts is in the offing, with The Journal reporting an announcement could come …
• 14 February

  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 …
• 14 February

  FIS’s Pay by Bank Path And Other Digital Transactions News briefs from 2/14/24

  

  FIS Inc. said it is working with Banked, an open-banking provider, to develop new pay by bank services for businesses and consumers. Gateway provider Trice Technologies Inc. said it is a technology provider and real-time payments gateway for the RTP network from The Clearing House Payments Co. LLC. Web services and payments provider GoDaddy …
• 7 February

  Payroc Beefs Up Its Presence in Canada With Its Deal for SterlingCard

  

  Payments-platform provider Payroc LLC has expanded its footprint in Canada through its acquisition of SterlingCard Payment Solutions Inc., a provider of retail and e-commerce payment solutions, for an undisclosed sum. Tinley Park, Ill.-based Payroc announced mid-day Tuesday it had closed on the deal. The acquisition enables Payroc to offer a …
• 6 February

  Affinipay’s Tap-to-Pay Play And Other Digital Transactions News briefs from 2/6/24

  

  AffiniPay, a specialist in payments for professional offices, launched a refreshed version of its In-Person-Payments service featuring new payments devices that include tap-to-pay functionality. Fiserv Inc.’s Small Business Index for January remained unchanged from December at 138. Year-over-year sales grew 1.7%, down from December’s 2.6% rate. The Index, introduced in January, measures …
• 2 February

  Cantaloupe Makes a Play for Stadium Pay With a $4.75 Million Deal for Cheq

  

  Cantaloupe Inc., a provider of cashless payment technology for the self-service market, has acquired Cheq Inc. for $4.75 million, Cantaloupe announced late Thursday. Cheq is a payments and ordering platform for sports, entertainment, and hospitality venues.  With the acquisition, Malvern, Pa.-based Cantaloupe can enter what has become in recent years …

January, 2024

• 31 January

  As Its U.S. Business Slows, Mastercard Looks to Emerging Markets Like Real Time Payments

  

  Mastercard Inc. is confronting a slowdown in dollar volume in its home market while it pushes into vital new markets like real-time payments and open banking, its presentation of fourth-quarter 2023 financial results indicated early Wednesday. Gross dollar volume of $727 billion in the December quarter represented a 4% rise …
• 31 January

  Eye on Acquisitions: EMS Nabs PaymentCloud; Blackhawk Acquires Tango Card

  

  Payment technology provider Electronic Merchant Systems acquired PaymentCloud, an Encino, Calif.-based payment gateway provider. The acquisition will enable PaymentCloud to expand its merchant base while utilizing EMS’s technology services. The deal also solidifies the existing relationship between the two companies and positions Cleveland-based EMS to leverage PaymentCloud’s marketing and sales …