Digital Transactions Authoritative, insightful and timely information for payments professionals
As its merger with London-based merchant acquirer Worldpay Group plc gets closer, payment processor Vantiv Inc. reported Thursday that it saw strong growth in its merchant-acquiring segment in the third quarter, especially from small and mid-sized merchants. Symmes Township, Ohio-based Vantiv said net third-quarter revenues in its Merchant Services segment …
October, 2017
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19 October
First Data Buying BluePay and Other Digital Transactions News briefs from 10/20/17
First Data Corp. made it official: it is acquiring merchant processor BluePay Holdings Inc. for $760 million in cash. BluePay processes $19 billion annually for 77,000 merchants and is integrated into more than 450 software platforms. The deal is expected to close by the end of the year. First Data inadvertently …
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18 October
Chase To Acquire WePay in a Play for ISVs and New Merchants
JPMorgan Chase & Co. is making a big move into the world of independent software vendors and payment facilitators with a planned acquisition of WePay Inc. that the nation’s largest bank announced late Tuesday. Redwood City, Calif.-based WePay develops payments-related application programming interfaces (APIs) for software developers to put into …
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12 October
Blackhawk Network Plans To Sell its Cardpool Gift-Card Exchange Business
Prepaid card services provider Blackhawk Network Holdings Inc. disclosed Wednesday that it plans to sell its struggling Cardpool business. That news came as Pleasanton, Calif.-based Blackhawk reported a loss of $7.8 million for its third quarter ended Sept. 9, bigger than the $5.1 million loss in 2016’s third quarter. Third-quarter …
September, 2017
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7 September
Global Payments Completes Active Deal and other Digital Transactions News briefs
Francisco Partners, a private-equity fund, has made an investment in Network Merchants Inc., a provider of payments technology and gateways to merchants and independent sales organizations. The unspecified investment is said to be “substantial.” Consequent to the deal, existing investor Bregal Sagemount will exit, and existing investor Great Hill Partners will …
August, 2017
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25 August
AmEx Exits Prepaid Card Program Management With Platform Sale to InComm
The pending sale by American Express Co. of its Serve technology platform to prepaid card program manager InComm moves AmEx more toward the model used by most other general-purpose prepaid card issuers and still keeps the upscale AmEx brand involved in a business mostly oriented toward moderate- and lower-income consumers, …
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18 August
Milestone: Global Payments Launched the VAR/ISV Trend Five Years Ago With its APT Buy
It didn’t get a lot of press at the time, but the acquisition by merchant acquirer Global Payments Inc. of Accelerated Payment Technologies in 2012 proved to be the starting point of big acquirers pairing up with integrated software vendors and value-added resellers to deepen their relationships with merchants. Atlanta-based …
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9 August
Vantiv To Take Worldpay’s Name In a Merger That Will Create a Global Acquiring Powerhouse
After two delays, processor Vantiv Inc. and London-based merchant acquirer Worldpay Group plc finally announced a formal deal Wednesday that has Vantiv acquiring Worldpay in a deal that creates a global processing powerhouse. The cash and stock deal values Worldpay at $12 billion, a 34% premium to Worldpay’s six-month volume-weighted …
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3 August
Global Payments to Acquire Active Network for $1.2 Billion; Sees Profits Rise Nearly 8%
Global Payments Inc. said Thursday that it has a deal to buy two major divisions of Active Network LLC, a growing event-management software provider and payment processor, for $1.2 billion from a private-equity firm. The merchant acquirer also reported its second-quarter financials, which include a nearly 8% year-over-year increase in …
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1 August
Vantiv’s Worldpay Bid Extended and other Digital Transactions News briefs
Payments veteran and Harbortouch founder Jared Isaacman announced the formation of Lighthouse Network LLC, a company that will provide shared services, such as payment processing, merchant-support responsibilities, and corporate functions to Harbortouch, and eventually other brands, which could be acquired through strategic means, a Lighthouse Network spokesman said. Isaacman said in a press …
