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TransactionWatch – Week of July 18th – July 22nd

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M&A movement across the merchant acquiring industry remains still this past week as economic speculation continues to draw doubt into future financials. Activity this summer has witnessed a noticeable slowdown compared to prior periods. In addition, private equity and venture capital funding in the payments space have seen a decline in recent months and fintech valuations have also been impacted as a result. Nonetheless, opportunities for growth and further development persists. This past week Fidelity Payment Services announced a strategic growth investment from PSG and H.I.G. Growth Partners. This new funding will support Fidelity’s intent to innovate its Cardknox platform as well as boost their go-to-market strategy, which may include investigating strategic acquisitions. Separately, Visa is reportedly in talks to make an investment in the digital payments platform Airwallex, according to people familiar with the matter. If accurate, Visa would join a Series E funding round extension valued between $100 – $150 million.

In other M&A news, reports continue to swirl around NCR getting acquired by a private entity. NCR is now reportedly in exclusive talks with the private equity firm Veritas Capital over a potential acquisition. A deal could be made within the next few weeks, but it is not guaranteed.