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TransactionWatch – Week of January 24th – January 28th

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M&A activity within the payments industry continues to make headway and carry on a strong start to 2022 as January comes to a close. To kick things off, Paystone has announced their acquisition of Canadian Payment Services (“CPS”), a First Data (now Fiserv) ISO with over 10,000 merchants. This deal marks Paystone’s sixth acquisition to date as the company continues to seek rapid expansion across North America. Following this acquisition, Paystone will now serve over 35,000 merchant locations in North America that collectively process over $10 billion in annual card volume. Paystone is set to continue their rapid growth in 2022 as the company expects to add more than 100 employees by the end of the year. Separately, Till Payments announced their acquisition of ZIPS, the payment processing business line of Ziosk. This acquisition, which also includes a long-term partnership between Till Payments and Ziosk, allows Till to broaden their sales channels of ISVs and referral partners in North America. Additionally, this deal follows Till’s latest funding of $90 million last year, which has aided the company’s growth in global expansion.

In other M&A news, JP Morgan announced it has entered into an agreement to acquire a 49% stake ownership in Viva Wallet, a European cloud-based payments platform. This agreement helps pave a path for JP Morgan to further grow their omnichannel merchant acquiring solutions across the European region.