Breaking News
Paysafe Agrees to Buyout of Nearly $4 Billion
Paysafe Group Plc has reached an agreement to be acquired for £2.96 billion (US$3.89 billion) by private-equity groups Blackstone Group LP and CVC Capital Partners, the online payments company said Aug. 4.
The massive deal, valued at 590 pence per share, comes at a time of significant consolidation in the payments space and several years of considerable investment activity in fintech firmswith a payments focus.
In early July, Cincinnati-based payments technology company Vantiv said it would pay $10 billion for U.K.-based processor Worldpay. And Chinese powerhouse Ant Financial is planning to purchase remittance giant MoneyGramfor $1.2 billion if it can get the necessary regulatory approvals.
“As commerce shifts from physical to digital, there is a need for these types of businesses [acquirers/processors] to invest in connecting to a wide range of alternative payment options (handling local debit and credit schemes is no longer sufficient), cyber protection, advanced data analytics etc.,” writes Richard Johnson of U.K. IT analyst house TechMarketView, in an August report on payments M&A.
“All these demands argue for the advantages of scale which the Vantiv/Worldpay and various Wordline deals will provide if systems can be effectively integrated,” he adds. “This scaling may well result in margin compression on core transaction processing, which means that, as always in digital transformation, it is access to data and the ability to unlock the intelligence (the TechMarketView theme for 2017), which will be crucial for future sustainability.”
RElease from Paybefore.
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AS Colour Partners with Adyen to Complete the Global Customer Picture
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OMS Appoints Simon Tippett as Head of Delivery
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Instant Payments and the Proliferation of QR-Driven Transactions
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Sustainable Growth and Building Strategic Capability in Digital Transformation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Sygnum Completes First Live AI-Agent Driven Digital Asset Transactions by a Regulated Swiss Bank
Sygnum, a global digital asset banking group, today announced it has become the first Swiss regulated bank to use an AI agent to test live digital asset market transactions, with the client retaining custody, consent and control at every step. This is the latest initiative from AI@Sygnum which leads the development, integration and governance of agent-driven workflows across the group globally.
CMC Markets Launches Spectre Trading Account for Retail Clients
CMC Markets (“CMC”), a FTSE 250 company and global leader in multi-asset online trading and investing, has launched Spectre for retail clients, following strong demand after the product was initially introduced for professional traders.
Ingenico and Arrive Partner to Power Seamless Payments for On‑Street Parking and Urban Transport Worldwide
Ingenico, a global leader in payment acceptance solutions, and Arrive, a leading global mobility platform, today announced a strategic partnership to deliver reliable, seamless payment experiences for on-street parking and transport ticket vending machines across more than 30 countries worldwide.
Zurich Scales Agentic AI to Five Countries in 90 Days Cutting Manual Risk Processing Time by 80%
Zurich Insurance has completed a breakthrough 90‑day deployment of Cytora’s agentic AI‑powered risk digitization platform across five countries. The programme will now scale to more than 20 markets over 16 months.
JCB and Wonder Advance Cashless Taxi Payments in Hong Kong
JCB International Co., Ltd, the international operations subsidiary of JCB Co., Ltd, Japan’s only international payment brand, and Wonder Ventures Limited, a leading payments and fintech platform in the Asia Pacific, announced that JCB Cards are now accepted on Wonder Taxi in Hong Kong.