This acquisition is the largest ever in a payments market that is seeing consolidation. There are striking similarities to Fiserv’s acquisition of First Data — and also some key differences.
On Monday, financial technology provider FIS (Fidelity National Information Services) agreed to acquire global payments processor Worldpay in a $43B deal.
FIS provides software for payments processing to 14,000+ banks, while Worldpay helps merchants accept payments. Combined, the two companies hope to create a single destination for banks and merchants to issue, receive, and process payments offline and online.