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July 3, 2020TransactionWatch

TransactionWatch – Week of June 29th – July 3rd

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This Week’s M&A Overview

Activity within the merchant acquiring space is continuing to play out this week with the announcement that Wirecard North America is seeking out buyers for the operation. Wirecard North America, which operates as a separate legal business of Wirecard AG, is seeking to break ties from its parent company Wirecard AG. The troubled Wirecard AG continues to be under an ongoing investigation related to accounting manipulation and is facing insolvency. Clearly, the outcome for both Wirecard AG and Wirecard North America are uncertain at this point.

In other M&A news, MFS Africa announced their acquisition of Beyonic, which provides management solutions for digital payments in Africa. This acquisition will help further drive digital payment accessibility in Africa for small businesses, especially pertaining to cross-border transactions.

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