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TransactionWatch – Week of February 22nd – February 26th

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Significant activity this past week with the announcements of a couple notable transactions that further consolidate the merchant acquiring industry. To start, NMI announced its acquisition of complementary payment gateway provider USAePay for an undisclosed sum. The acquisition of USAePay enables NMI to further expand its omnichannel offerings, which has been in more demand from merchants due to the ongoing pandemic. Furthermore, USAePay strengthens NMI’s portfolio in several tactical verticals, specifically retailers and restaurants, and will add more than 90,000 merchants using its gateway offering. Collectively, the combined entity handled more than $100 billion in payment volume from 1.5 billion transactions in 2020.

In other M&A news, Clearent and Transaction Services Group (TSG) announced a definitive merger agreement to form Xplor Technologies. Both Clearent and TSG are portfolio companies of the private equity firm Advent International. As a result of the merger, Xplor will serve more than 82,000 merchants that process over $27 billion in annual payment volume across 158 countries. The newly established group will offer a global platform constructed to integrate software, payments, and commerce solutions.