Shanahan to Continue to Steer CardConnect Post-FDC Acquisition

The deal is done. First Data (FDC) and CardConnect have completed their acquisition agreement. CardConnect is now a wholly-owned subsidiary of FDC and CardConnect shares will no longer be traded on the NASDAQ. CardConnect CEO Jeff Shanahan will continue to lead CardConnect operations and will serve as an Executive Vice President and as a member…

Vantiv & Chase Chases a Worldpay Play for $10B

Worldpay Group confirms it has received preliminary approaches from Vantiv and JPMorgan Chase Bank in relation to the potential acquisition of the entire issued, and to be issued, share capital of Worldpay. Any deal is expected to be valued in the US$10 billion range. The companies now have 28 days, or until August 1, to…

First University for Merchant Payment Services Training Now Online

The payments industry first and only online video university for merchant services professionals has been launched. Linkpay.University offers 12 courses and over 64 videos of merchant services training. Courses include everything from introduction into credit card processing, analyzing statements, how to sell merchant services, lead generation and consultants on real sales calls. After each 6-video…

V + MA International Q1 GTX +12% YOY Discounting V EU

International gross transactions (GTX) for Visa and Mastercard credit and debit cards grew an adjusted 11.8% year-on-year (YOY) in the first quarter (1Q/17). International unadjusted GTX for credit cards increased 22.5% YOY while international unadjusted GTX for debit cards soared an unadjusted 62.4% YOY in 1Q/17, according to CardData. The data are skewed by the…

Processors Not Fintech Startups Most Likely to Disrupt the Payments Industry

While all new technologies will be important to their business in the next two years, the majority of CFOs say they are most concerned with mobile payments and mobile capabilities to manage and approve payments (55%), with blockchain a close second (54%), followed by cloud payments (48%) and data mining (46%). Despite the buzz around…

CardConnect to be Gobbled Up by First Data in 3Q

First Data has inked a deal acquire CardConnect for $750 million. The transaction is expected to close in the third quarter. CardConnect is a provider of payment processing and technology solutions and is one of First Data’s largest distribution partners. CardConnect processes approximately $26 billion of volume annually from about 67,000 merchant customers which are…

Vantiv + Paymetric = B2B Payments Expansion & Cross-Selling Opportunities

Vantiv has inked a deal to acquire Atlanta-based Paymetric for an undisclosed amount but set to close by June 30th, pending U.S. antitrust clearance. Paymetric automates B2B payment workflows within enterprise systems, including SAP, Oracle, Hybris, Salesforce and more. Paymetric also tokenizes payments data within these systems in order to enable secure storage of customer…

TSYS Posts Decent Q1 Profit While Trimming Jobs and Diversifying

GA-based acquirer TSYS reported a solid first quarter (1Q/17) as total revenues hit $1185 million, a jump of 60.4% year-on-year (YOY). Net income increased 16.9% YOY from $90.6 million in 1Q/16 to $105.9 million in 1Q/17, according to CardData. The Company says the strategy of diversification has been paying-off for the first quarter. TSYS also…