US credit card processing company Vantiv moved closer to creating a $29 billion global payments powerhouse on Wednesday with a formal offer to buy Britain's Worldpay for 8 billion pounds ($10 billion). Vantiv's move is part of a wave of payments company mergers around the world as consumers are moving away from cash transactions to a smartphone or mobile payments and the industry, once a backwater of banking, faces growing competition from newcomers trying to disrupt the way merchants are paid. Recent deals have included British payment firm Paysafe Group backing a 3 ...
US card firm Vantiv seals $10 bn merger deal to buy Worldpay
Worldpay shareholders will own around 43%, while Vantiv investors will have 57% of combined group