Quarterly financial reports begin to become publicized this week as M&A activity dials down following last week’s flurry of deal announcements in the payments space. To start, both Visa and Mastercard have released their financial reports this week, which encompassed strong year-over-year growth in global payment volume. Visa indicated for the three months ending September 30th , 2021, global payment volume growth of 17%, while Mastercard reported growth of 20%. Additionally, Fiserv also reported their Q3 financial results, which detailed global merchant payment volume growth of 20% year-over-year.
In other news, following last week’s speculation, PayPal indicated in a press release that the company is not pursuing an acquisition of Pinterest at this time. This comes after numerous reports last week that PayPal was in acquisition talks with Pinterest in a deal that was reportedly being valued as high as $45 billion. Separately, both Mastercard and Fiserv have teamed up with the crypto platform Bakkt this past week to support offerings of cryptocurrency services. For Fiserv, they plan to integrate Bakkt into their Carat omnichannel ecosystem; while Mastercard intends to use Bakkt’s platform to support their issuance of branded crypto debit and credit cards.