Another active week in M&A as payment providers continue to compete for market growth and technological advancement. To start, Fiserv announced their deal to acquire BentoBox, a digital marketing and commence platform for restaurants, for an undisclosed sum. This deal is positioned around Fiserv’s Clover platform and aims to strengthen their omnichannel capabilities specifically around online marketing and online ordering for the restaurant vertical. Separately, Stripe uncovered their acquisition of Recko, a payments reconciliation software provider based in India. Terms of the deal were not disclosed; however, Recko has raised approximately $7 million in total funding prior to this deal and will mark Stripe’s first acquisition in the country of India.
In other M&A news, MiCamp Solutions announced their second acquisition of the year with their deal to acquire Express Payment Solutions, an ISO of Fiserv. This deal was completed in conjunction with their joint venture partner, Twenty20 Payments. The acquisition of Express Payment Solutions is positioned to bring additional volume and growth to MiCamp in California and neighboring states. As a result of this transaction, MiCamp now serves 20,000 clients and processes nine billion payments annually. Lastly, speculation around PayPal acquiring Pinterest swirled this week as details surrounding this potential transaction emerged. This deal, if closed, is rumored to be valued at $45 billion; marking this as one of the largest payments deals of the year.