VRC is proud to release its latest Industry Report. The report provides a concise, insightful update on the Payment Services industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
Read the full report: Payment Services: October 2019
October 2019 Industry Highlights
- On September 30, 2019, PayPal announced it had agreed to acquire a 70% stake in China-based GoPay Information Technology. The transaction is significant as it makes PayPal the first foreign payment platform to provide online payment services in China. GoPay has licenses for both online and mobile transactions, and provide payment solutions for e-commerce, cross-border commerce and tourism.
- On September 18, 2019, Global Payments Inc., a leading provider of payments technology and software solutions, completed its merger with Total System Services for approximately $26.7 billion. The combined company will provide payment and software solutions to approximately 3.5 million small to mid-sized merchant locations, 1,300 financial institutions, and over 600 million global cardholders.
- On July 1, 2019, WEX Inc. completed its acquisition of the Fuel Card Business of Euro Garages Limited for $266 million. The Go Fuel Card business, which is headquartered in the Netherlands, will strengthen WEX’s position in Europe and broaden its card acceptance through an independent, proprietary card network.
- Read the full October 2019 Payment Services industry report.