Payment giant Worldpay has been acquired by Vantiv in a $10 billion dollar deal.
The aquisition is now posed to forge the biggest global leader in the payments market. Worldpay are the largest merchant payment provider for the UK market occupying over 41% of merchant transactions in the UK market alone. Their new offering Worldpay Business Cash Advance has also been acquired in the deal.
— Reuters Business (@ReutersBiz) July 5, 2017
JP Morgan and Vantiv had both placed offers on Tuesday 4th July with a deadline for ‘firm’ final offers on August 1st 2017 – this being in accordance with UK regulations. A spokesperson for JP Morgan has however now stated that said they won’t be pursuing the purchase any further which now clearly paves the way for the Vanity deal to complete.
Our business cash advance product works with all merchant providers including Worldpay who have recently moved into the Business Cash Advance space.
Vantiv, who are a major credit card processing company in the USA have also purchased Paymetric for an undisclosed amount ahead of the aquisition of payments company Moneris for $420m dollars.
Worldpay will now be delisted from the London stock market.
The companies have stated that there are now “substantial opportunities for cutting costs as well as additional opportunities for revenue growth.”
A business cash advance is an alternative form of business finance that has been popular in the United States for a long time. In the UK there are more and more companies who are utilising the funding service on a daily basis. It is considered to be a fast growing market in the UK. To apply for a business cash advance – click here.