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…
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…
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…
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…
In the payments arena, checks account for almost 50% of payments (down from 63% in 2014); ACH 32% (up from 22% in 2014), cards 11% (up from 8% in 2014), and cash and wire 8% (up from 7% in 2014). According to a new survey conducted by Credit Research Foundation (CRF) in partnership with NACHA-The…
Total Visa and Mastercard processed or switched transactions (TX) in the first quarter (1Q/17) rebounded above year-on-year (YOY) growth rates of the past three years. Mastercard, is growing significantly higher YOY with a 500 basis points (bps) gap over Visa in 1Q/17, discounting the addition of Visa Europe in the third quarter of last year.\,…
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…
India’s full service carrier Vistara, a joint-venture of Tata Sons and Singapore Airlines has inked Wirecard for enabling payment processing for all ticket bookings made by credit card via BSP (Billing and Settlement Plan). The deal will help Vistara process international bookings quickly with a robust backend solutions framework, while keeping pace with the latest…
Worldpay has introduced the newest solution for chip card payment processing, Quick Chip technology – making it the first payment processor to offer the technology in the U.S. Reducing chip card terminal transaction times to approximately three seconds, Quick Chip technology delivers the speed of service today’s businesses and consumers expect. Quick Chip removes the…
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 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…
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…
