Vantiv Bids To Aquire Rival Payment Processor Worldpay

Published Sunday, July 09, 2017 - Online-Casinos.com
Vantiv Bids To Aquire Rival Payment Processor Worldpay

The online betting industry is closely linked to one of its essential aspects money transfers. The industry depends on a safe environment for consumers of wagers products to participate in. The importance of a fast and secure money transferring process cannot be undervalued in an online gambling operators offering.

The recent bid by public U.S.-based payment processing and technology provider Vantiv the largest U.S. merchant acquirer, to acquire London’s Worldpay Group for 7.7 billion pounds ($9.9 billion) is an example of the competition for this aspect of the betting industry. With as many as five thousand employees and revenue of 4.541 billion GBP in 2016 Worldpay which floated on the London stock exchange just last year, noted that regulated gambling as one of its five key verticals. The executive boards of Worldpay and Vantiv “see compelling strategic, commercial and financial rationale” for the fusion, as well as “substantial opportunities for cost synergies.” According to a statement a combined company would have a strong position in the U.S., Europe, Asia-Pacific and South America.

Only a few months ago in February Sky Betting & Gaming (SB&G)  secured a partnership with payment provider Worldpay. Worldpay will serve as SB&G’s lead payment system, as part of a wider effort by the gambling operator to both optimise player experience and engagement across its various digital verticals. SB&G product owner for payments, Andrew Sacre, commented then,  “Providing customers with a sophisticated digital experience is an absolute priority for us, which means supporting a growing number of emerging payment options, including Apple Pay,” “The digital gambling and payments space continues to evolve, driven by changing consumer habits and innovative new technologies, and Worldpay’s unique insight into customer patterns will be key to delivering a market-leading service.”

Last April, Vantiv also agreed to purchase Atlanta-based Paymetric Inc., a firm that helps integrate electronic payments in corporate software systems, for an undisclosed amount. It also acquired Moneris Solutions Inc., a card transaction processor for $429.6 million in December.

 

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