First-Quarter USB Payment Services

First-Quarter USB Payment Services Profits and ROAA Sag

First-quarter USB Payment Services profits dropped 5% year-on-year (YOY) as return-on-average-assets (ROAA) slipped 78 basis points (bps) compared to the fourth-quarter (4Q/18). The weakness for U.S. Bank was driven by softness in the consumer credit card business. However, strong merchant acquiring and corporate card activity mitigated an otherwise very soft quarter. Payment Services includes consumer…

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…

Deals Facilitate AliPay in Germany & Empowers VEON Platform in Italy

Wirecard has recently nailed two big deals, one in Germany and one in Italy. In Germany Wirecard inked high-quality knife and cookware specialist Zwilling as a customer for Alipay. The company operates in nearly 100 countries worldwide and is one of the largest kitchen and household goods chains in Germany. The kitchenware specialist will now…

Verifone Nails a Major Ukraine Payment-as-a-Service POS Deal

PrivatBank, the largest acquirer in Ukraine, has selected Verifone as its payment solution and service provider. As part of a three-year deal, Verifone will set up and manage PrivatBank merchants with point-of-sale (POS) solutions giving PrivatBank the freedom to focus on their more than 120,000 merchant clients of all sizes and verticals with financial services.…

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…

Citi Unloads its Merchant Acquiring Customer Portfolio

Wirecard recently inked a deal to purchase the customer portfolio of Citi’s merchant acquiring business in 11 markets in Asia Pacific (APAC). The purchase includes the entire customers for merchant acquiring services in Singapore, Hong Kong, Macau, Malaysia, Taiwan, Indonesia, Philippines, Thailand, India, Australia and New Zealand. The portfolio comprises a long-standing and reputable client…

Clearent PAI Acquisition Adds 17K Customers, a Telesales Team, and Strategic Partners

Clearent has completed its acquisition of Payment Alliance International’s (PAI) Merchant Services Division. The acquisition adds support and operations resources, a complementary telesales channel, strategic association partnerships, and increases Clearent’s processing volume by 40%. PAI’s Merchant Services Division is a provider of payment processing solutions for businesses, Independent Sales Organizations (ISOs), agents and associations, and…