Digital Transactions Authoritative, insightful and timely information for payments professionals
The prepaid card industry is marching to new frontiers as November heads toward a close. Intuit Inc. on Tuesday is expected to launch a prepaid Visa card for new merchants in its GoPayment smart-phone-based service, and the Federal Reserve Board approved prepaid card program manager Green Dot Corp.’s plan to …
November, 2011
September, 2011
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15 September
Private-Equity Player GTCR Swoops in to Snatch Fundtech from S1’s Grasp
In yet another twist in the ongoing corporate drama involving payments-software firms S1 Corp., Fundtech Ltd., and ACI Worldwide Inc., news emerged early on Thursday that Fundtech is spurning S1 in favor of what it views as a better offer from GTCR, a Chicago-based private-equity firm with a history of …
April, 2011
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4 April
Ingenico To Buy Hypercom Assets, Installs New North American Boss
Ingenico S.A. will buy part of point-of-sale terminal maker Hypercom Corp.’s U.S. assets as VeriFone Systems Inc. prepares to complete its acquisition of Hypercom under a deal the companies announced Monday. France-based Ingenico also installed the head of its Australian unit, Thierry Denis, as its new North American president. …
January, 2011
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4 January
TSYS Cements Strategic About-Face with Takeover of First National Merchant Solutions
Total System Services Inc. on Tuesday brought to an end a short-lived joint venture with First National Bank of Omaha by buying the 49% of FNBO unit First National Merchant Solutions LLC it didn’t already own. In the deal, TSYS paid FNBO $169.6 million for the remaining stake, implying a …
November, 2010
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17 November
Hypercom Makes Nice With VeriFone, Agrees to Buyout
Six weeks ago, point-of-sale terminal maker VeriFone Systems Inc. made an unsolicited, $283 million cash bid for smaller U.S. rival Hypercom Corp., an offer Hypercom immediately rejected as too low and described as “opportunistic and intended to disrupt our business.” Hypercom went so far as to adopt a so-called poison …
September, 2010
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15 September
Consolidation Marches on As Fifth Third Buys NPC
Another seismic merger rumbled through the merchant-acquiring industry on Wednesday when the big acquirer Fifth Third Processing Solutions LLC announced it had struck an agreement to buy Louisville, Ky.-based National Processing Co. When the deal closes, Cincinnati-based Fifth Third will have more than 420,000 merchant locations and annualized charge volume …
March, 2010
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2 March
Fast-Growing Green Dot Plans To Do an IPO And Buy a Bank
More than 10 years after its founding, prepaid card reload network and distributor Green Dot Corp. is considering an initial public offering to raise up to $150 million for its next growth phase. The registration statement Monrovia, Calif.-based Green Dot filed last week for the proposed stock offering is a …
April, 2009
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1 April
FIS’s Metavante Acquisition To Create a Processing Powerhouse
Fidelity National Information Services Inc. (FIS) will buy Metavante Technologies Inc. in a $2.94 billion all-stock deal announced on Wednesday. The acquisition will create a bank- and payments-processing giant with $5 billion in combined revenue and a vast array of products in everything from core banking services to credit, debit, …
November, 2008
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5 November
First Data-InComm Deal Appears To Be Casualty of Economic Tailspin
A slumping economy appears to have been what scuttled First Data Corp.’s deal to buy prepaid card program manager InComm Corp. The agreement, announced in April (Digital Transactions News, April 29), involved transaction-processing giant First Data acquiring Atlanta-based InComm for $980 million, with a further payout of $250 million over …
November, 2007
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20 November
Did Buyer’s Remorse at Cap One Sink the $700 Million NetSpend Deal?
Though Capital One Financial Corp. and prepaid card manager NetSpend Holdings Inc. late on Monday said they had “mutually agreed” to call off Cap One’s planned $700 million cash acquisition of NetSpend, the move may have been a consequence of the deal’s hefty price tag, says an analyst who follows …