Shift4 Payments Inc. early Thursday reported a 26% jump year-over-year in September-quarter processing volume as the company continues to deploy assets acquired in its $2.5-billion deal for the Swiss processor Global Blue.
“We are number one in hotels, number one in stadiums, and we are just beginning to bring these strengths to the world,” noted chief executive Taylor Lauber during a conference call held to discuss Shift4’s quarterly results, which include a 62% surge in gross profit to $409.6 million for the quarter, matching the company’s four-year compound annual growth rate in the category.
Results like that are helping to fuel expansion at Shift4 as the Center Valley, Pa.-based company prepares to absorb early next year the U.S. and Canadian assets of the French processor Worldline S.A., collectively known as Bambora North America. That deal, expected to close in the first quarter next year, will bring to Shift4 one of the largest processors of automated clearing house volume in the U.S. market, Lauber said.