Vantiv was early to 'integrated payments,' a strategy that's paid dividends through a number of acquisitions, including Friday's announced $425 million deal to acquire Moneris USA from Canada's Moneris Corp.
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Cincinnati-based Vantiv expects the deal, which will close sometime this quarter, should accelerate its growth in integrated payments and merchant bank channels, according to a spokesperson.
Integrated payments refers to placing other business functions at the point of sale. Vantiv spent $1.65 billion in 2014 to acquireMercury Payments, a move that positioned Vantiv to take advantage of early moves into multi-channel shopping, payments and expanded merchant services, all considered table stakes in today's merchant acquiring and processing industries as mobile payments and marketing mature.
A visitor tries out Microsoft Corp.'s Windows 10 operating system on a tablet device during a launch event in Tokyo, Japan, on Wednesday, July 29, 2015. The release of Microsoft's new Windows 10 operating system -- an event that in years past sparked a surge of computer buying -- will do little to ease the four-year sales slump that's been dogging the PC industry. Photographer: Kiyoshi Ota/Bloomberg
Kiyoshi Ota/Bloomberg
More moves followed the Mercury deal, including collaborations with financial institutions such asCapital One that further enhanced the processor's merchant services heft.
Vantiv recently debutedVantiv One, which provides a suite of technology development and support tools to take advantage of the growing trend toward open development.
The pending Moneris USA deal will add scale; Vantiv will service Moneris USA's merchants and other business relationships, including BMO Harris Bank, which operates about 600 branches in the U.S. Moneris USA processed about $12 billion in payments in 2015.
John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio
Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
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The Mississippi lender's pending acquisition of OFB Bancshares, the parent company of One Florida Bank, offers an entry point into the fast-growing Orlando market.
