M&A activity continues to spur this week in the payments industry with several new deal announcements. To start, Payliance announced their acquisition of Secure Payment Systems (“SPS”), a Nevada-based ISO that processes more than $20 billion in annual payment volume. With this acquisition, Payliance is able to expand their product suite as well as their merchant portfolio. Following this deal, Payliance will serve over 11,000 merchants that process more than 57 million transactions per year. Separately, earlier this week Trust Payments announced their deal to acquire WonderLane, a retail technology provider, for an undisclosed sum. This deal enables Trust Payments to further enhance their retail solutions for their merchant base, including advancing their POS solution for improved omnichannel payments.
In other M&A news, DNA Payments announced their deal to acquire Kwalitas, a fintech provider based in the United Kingdom. This deal aligns with DNA Payments’ strategy for growing their merchant portfolio through providing additional product services. This deal also marks the company’s fourth acquisition in just the past two years. Lastly, Block (formerly Square) announced they have completed their $29 billion acquisition of Afterpay, a BNPL provider. This deal was initially announced back in August of last year.