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Traction continues to make headway this week as M&A announcements within the payments industry endures. To kick things off, DNA Payments has announced their second acquisition of the month with their agreement to acquire Card Cutters for an undisclosed sum. Headquartered in the U.K., Card Cutters is a merchant services provider that serves over 12,000 merchants and specializes in reselling a range of card terminals. This acquisition strengthens DNA Payments’ positioning in the U.K. and E.U. as it expands their market reach as well as their range of supported hardware devices for their merchant base. This deal comes on the heals of the company’s recent acquisition of Kwalitas announced just last week and proves that DNA Payments is committed to utilizing their approximate $136 million in funding raised last year towards strategic growth initiatives.
In other M&A news, Fiserv has signed a definitive agreement to acquire Finxact, a developer of cloud-based banking solutions. This acquisition falls more inline with the company’s banking technology segments as opposed to merchant acquiring; however, this deal further advances financial institutions’ ability to access and embed payment solutions through Fiserv’s product suite. Fiserv was an early investor in Finxact and will acquire the remaining ownership for approximately $650 million.