Activity in the merchant acquiring space picked up movement this week as several new deals were announced across different areas of the industry. While the effects of COVID-19 continue to unfold, consumer payment volumes are returning to more normalized levels. Deals across the industry are picking up more traction as buyers and sellers retain a higher level of economic optimism.
At the beginning of this week, Paysafe announced their intensions to acquire Openbucks, a payments gateway that focuses on retail gift card acceptance for online merchants. Many of their current customers operate in the U.S. gaming and eSports space, which complements Paysafe’s market focus as they seek to further expand their cash alternative offerings in the U.S. Separately, Network International announced their intended acquisition of DPO Group, a leading online commerce platform in Africa, for a total consideration of $288 million. This deal aims to accelerate their growth in Africa and broaden their merchant solution offerings in the area.
In other M&A news, Enova announced their intention to acquire online lending provider, OnDeck, in a deal valued at $90 million. This deal will bring together two complementary businesses, which combined have served seven million customers.