TSYS and Global Payments have announced a merger deal of about $21.5 billion, the third M&A deal in the financial/fintech industry of more than $20 billion this year, and the latest in a series of deals of all sizes.
The digital banking provider Simple has been part of BBVA for five years, and its reputation as an easy way to handle and transfer digital money has only grown in that time frame through the addition of faster payments and P2P services.
JPMorgan Chase is buying InstaMed, a cloud-based health care payments platform that’s seen significant growth in recent years from consumer medical payments.
The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.
Arguments that the central bank should develop its own system for faster payments ignore current market realities, argues The Clearing House, which has developed its own network.
The Fed should continue to play a key role in the new payments system, rather than leaving it in the hands of the country’s largest banks, Thomas Hoenig and Bruce Summers argue.
