Global Payments, is nearing a $20bn deal to acquire rival TSYS, adding to the record-breaking pace of blockbuster consolidations in the payments industry so far this year.
Already this year, US payments processor Fiserv has agreed to buy rival First Data in an all-stock deal worth about $39bn including debt. That deal was followed by Fidelity National Information Services’ agreement to buy Worldpay for $45bn including debt. Columbus-based Total System processes credit card payments and acts as a bank card issuer, while Global Payments allows merchants to accept various payment types and operate their businesses across a variety of distribution channels. Combined, the two companies would employ about 24,000 people and generate more than $8bn in revenue.