Payments is a massively, confusingly and unsustainably fragmented industry right now. So it’s no surprise that 47 per cent of global fintech M&A deals tracked by Pivotl last year were payments companies getting snapped up.
Overall the number of fintech acquisitions jumped 66 per cent between 2014 and 2015 and that number will only increase in the next 12 months. Arguably the most mature of the fintech verticals, payments companies will continue to drive M&A activity this year and don’t be surprised to see both Davids and Goliaths of the industry get acquired. With competition at an all-time high, it’s likely 2016 will also see some failures as companies bow out of the space altogether.
PayPal CEO Dan Schulman is attempting to make good on his promise to better serve the unbanked.
The Swedish unicorn is acquiring the profitable payments company for £60m.
Alon Rajic, Managing Director of Finofin Ltd, reveals how he believes the international payments market will evolve in the next 12 months.
Lloyds banking Group has agreed to pay £1.9 billion for Bank of America's credit card firm, MBNA, in the first acquisition by a UK bank since the 2008 financial crisis.