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Australia Payment processing: Takeover among payment service providers: Worldline swallows Ingenico

20:55  30 october  2020
20:55  30 october  2020 Source:   handelsblatt.com

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Worldline wants to accelerate the development of European payment transactions. However, the French group is currently suffering from the corona crisis.

Für Zahlungsdienstleister ist der Trend zu mehr bargeldlosen Zahlungen wichtig. Die Coronakrise treibt die Entwicklung. © Getty Images The trend towards more cashless payments is important for payment service providers. The corona crisis is driving development.

The French payment service provider Worldline has swallowed its competitor Ingenico. Worldline boss Gilles Grapinet called the takeover on Friday a "very exciting milestone" for the group. Worldline is the largest payment service provider in Europe and the fourth largest provider worldwide.

From this position, Worldline has big plans: They want to accelerate the development of European payment transactions “and help shape the way in which we pay, live and do our business,” says Grapinet.

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The two French companies announced the merger in February. Ingenico was valued at 7.8 billion euros. In Germany , Worldline is represented by, among others, Payone , a joint venture between Sparkassen and Ingenico.

The payment service provider industry is in the middle of a wave of consolidation. There were several mega-deals in the USA, and further mergers are also emerging in Europe. At the beginning of October, the two Italian payment service providers Nexi and Sia announced their merger plans. According to the Bloomberg news agency, Nexi has also made a non-binding offer for the Danish payment service provider Nets. Concardis, a payment company in which a group of German banks was previously involved, belongs to Nets.

Even the Wirecard scandal has not slowed investors' interest in the industry. The share price of the Dutch payment service provider Adyen, for example, rose rapidly, and the Worldline price also recovered significantly after a slump in March. Other companies, for example Klarna, received fresh money from investors.

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Worldline also offers payment services for banks.

payment service providers process payments on behalf of merchants, online or at the checkout. They also integrate different payment methods in online shops and take on additional services such as protection against fraudulent transactions. Unlike many of its competitors, Worldline also offers payment services for banks.

In the corona crisis, sales in stationary retail fell, but online shopping is booming. In contrast to Adyen , Worldline has not benefited as much from the e-commerce boom. Sales in the third quarter fell by three percent, in the second quarter it was even more than ten percent lower.

Adyen, on the other hand, again significantly increased sales and pre-tax profit. The company that specializes in online payments is doing even better than expected. The payment service provider has revised the numbers upwards since 2018. This is because the company mistakenly double-booked certain credit card payments.

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However, Adyen draws criticism. In the opinion of the analysts at DZ Bank, the correction against the background of the Wirecard insolvency raises "questions about the accounting in the sector and is by no means trustworthy". However, since the company is young and had previously calculated poorly, "we see the restatement as a forgivable mistake," the experts say.

Adyen explained that the company was constantly working on automatic controls, and that in the course of this process, the incorrect postings were noticed. They would have no influence on the company's liquidity, payments from other companies or payments to dealers.

More: Adyen increases profits - and has to revise previous business figures upwards


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