Fenwick payment systems practice co-chair Dan Friedberg spoke with Law360 about increasing payment services mergers and acquisitions in light of Vantiv’s acquisition of Worldpay Group.
Friedberg said this M&A trend is fueled by maturing startups that are growing their global footprints and by more traditional companies needing to acquire new technology to stay competitive.
He told Law360 that expanding the geographical reach of a payment services company is key to reducing costs to merchants in the increasingly global world of e-commerce.
He noted that an expanded footprint also gives companies access to new jurisdictions from a regulatory standpoint.
“The globalization of internet commerce has caused companies to want to consolidate geographies. For a company to be successful worldwide, they are going to need a solution that has licenses around the world so they can move payments,” Friedberg said.
The full article is available through the Law360 website (subscription required).