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.
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.
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