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The growth of the eCommerce market brought on by COVID-19 has attracted various buyers in recent months as consumers further transition into online shopping. This week 2Checkout, a growing online payment provider, announced they have been acquired by Verifone. This acquisition helps expand Verifone’s presence in the eCommerce marketplace and further diversifies their offerings. Verifone is a large player in the payment hardware market through the development of card terminals, however, this area has been largely affected by COVID-19 and the shift in online shopping. Verifone’s global network and established payment technology will further transform 2Checkout’s payment offerings and increase their presence internationally.
In other M&A news, North American Bancard (NAB) announced their acquisition of hospitality ISV, Salido. This acquisition embarks the growing trend of payment providers increasing their market reach through software providers. Salido, who specifically focuses on the restaurant industry, is aiming to further enhance the payment technologies on their platform with the assistance of NAB’s payment experience and technology.