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This Week’s M&A Overview
Economic optimism is becoming more apparent due in part by the reopening of merchant establishments across the nation. In the coming weeks and months, many merchants will execute their plans for reopening and put their focus towards driving foot traffic within their walls in a safe manner. As the economy begins to see some improvement since COVID-19 grinded many areas to a halt, several companies are moving forward with their acquisition agendas. This week saw a few acquisitions in the payments space, one of which included Checkout.com’s acquisition of Pin Payments. This purchase of Pin Payments enables Checkout.com to further expand into the APAC region, especially in the eCommerce market. Pin Payments has obtained a strong foothold in Australia and New Zealand, which amasses to more than 12,000 merchants.
In addition, payment provider Base announced their purchase of merchant accounts from LucentPay for an undisclosed amount this week. Base is seeking to drive additional growth on their platform and build upon the existing relationship with LucentPay which already consisted of providing processing services to their merchant base.