Digital Transactions Authoritative, insightful and timely information for payments professionals
Gateway and e-commerce services provider Digital River Inc. on Monday joined some other payments companies that have experienced the wrath, or panic, of investors on news that their relationship with their largest customer was threatened. Shares of Minnetonka, Minn.-based Digital River plunged 22.7%, falling $5.80 to close at $19.71, after …
December, 2014
May, 2014
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14 May
COMMENTARY: The Real Significance of Vantiv’s $1.65 Billion Deal for Mercury
Vantiv Inc.’s deal to acquire Mercury Payment Systems LLC was noteworthy for its size—the deal carried a $1.65 billion price tag—but it was also exemplary of a key industry transformation from distribution-centric to product-centric acquiring. For decades, the merchant-acquiring industry has revolved around selling the services of barely differentiated payment …
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12 May
Vantiv Announces Plans To Buy Mercury Payment Systems for $1.65 Billion
Payment processor Vantiv Inc. announced late Monday that it has struck a definitive agreement with the majority owner of tech-oriented independent sales organization Mercury Payment Systems LLC to buy Mercury for $1.65 billion in a debt-funded transaction. Durango, Colo.-based Mercury is suspending plans it disclosed in late March for an …
January, 2014
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27 January
PayPros Deal Supports Global’s Strategy, But Not at Expense of ISOs, Company Says
Global Payments Inc.’s $420 million deal to buy integrated payments-software maker Payment Processing Inc., or PayPros, is furthering its strategy as the payment processor looks to grow its direct sales, says a Global Payments spokeswoman. Atlanta-based Global Payments announced the deal Friday to buy the Newark, Calif.-based PayPros, which …
September, 2013
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25 September
Post-VeriFone, Bergeron Runs a $500 Million Warchest To Buy Payments Companies
By Kevin Woodward Six months after leaving point-of-sale terminal maker VeriFone Systems Inc., Douglas G. Bergeron is leading a new enterprise targeting financial-services and payments companies for acquisition. Dubbed Opus Global Holdings LLC, the new company has $500 million at its disposal to buy companies. Bergeron is collaborating …
May, 2013
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29 May
Court’s Critique Sparks NetSpend To Mull New Offers As Alternatives to TSYS Bid
Prepaid card program manager NetSpend Holdings Inc. on Wednesday said it will postpone until June 18 the shareholder meeting it planned for Friday to approve its $1.4 billion sale to processor Total System Services Inc. (TSYS). The delay is an attempt in the wake of two shareholder lawsuits to create …
February, 2013
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19 February
TSYS Plans To Go Big-Time in Prepaid With Its $1.4 Billion NetSpend Acquisition
No stranger to prepaid cards, payment card processor Total System Services Inc. (TSYS) will become a major force in the prepaid niche with its planned cash acquisition of program manager NetSpend Holdings Inc. that values NetSpend at $1.4 billion. The deal the two companies announced late Tuesday would pay NetSpend …
November, 2012
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27 November
With FSV Under Its Wing, U.S. Bank Poised To Become a Full-Service Prepaid Card Provider
Already a major player in the prepaid card industry, U.S. Bancorp on Tuesday announced plans to bolster that part of its payment card business by acquiring FSV Payment Services, a Jacksonville, Fla.-based prepaid card program manager and processor. Minneapolis-based U.S. Bank issues prepaid cards for more than 4 million account …
October, 2012
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31 October
Acquiring Giant Vantiv Agrees to Buy Litle & Co. for $361 Million
In a move that will greatly expand its business in card-not-present transaction processing, merchant processor Vantiv Inc. announced on Wednesday that it has agreed to acquire Lowell, Mass.-based Litle & Co. for $361 million in cash. The transaction is expected to close later this year and will result in 11-year-old …
January, 2012
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25 January
Eye on Prepaid: NetSpend Nets 7-Eleven for Distribution; Green Dot Buys a Processor
Prepaid card program manager NetSpend Holdings Inc. beefed up its retail distribution channels through a new agreement announced on Wednesday with leading convenience-store chain 7-Eleven Inc. The news came just a day after NetSpend rival Green Dot Corp. revealed that it bought assets from eCommLink Inc. that will advance its …