Takepayments Joins Global Payments in Latest Acquisition

Global Payments, a leading payment processing company headquartered in Atlanta, has recently acquired Takepayments, a UK-based payments business. The deal, which values Takepayments at over $250 million, marks a strategic expansion for Global Payments into the UK market. Takepayments, situated in Stockport, serves over 75,000 merchants by providing essential payment services, demonstrating substantial revenue growth from £40.8 million in 2021 to £52.7 million in 2022.

This acquisition allows Global Payments to broaden its international footprint and capitalize on the robust distribution channel that Takepayments offers within the UK’s small business sector. The move follows a competitive bidding process, highlighting the high stakes and dynamic nature of the payment processing industry. Global Payments aims to integrate Takepayments with its existing operations, particularly those gained through its acquisition of EVO Payments last year, which also has a UK ISO (Independent Sales Organization) channel. The combined capabilities are expected to enhance service offerings and operational efficiencies.

However, the acquisition comes amidst a rapidly evolving payments landscape. Small businesses are increasingly favoring integrated payment solutions over traditional stand-alone payment terminals. This trend is driven by the demand for comprehensive business management tools that streamline operations. Geoffrey Barraclough, a payments expert, notes that while the acquisition strengthens Global Payments’ distribution network, the company must pivot towards a software-led sales approach to stay competitive. With new entrants like Toast and Shift4 entering the UK market, Global Payments faces the challenge of innovating quickly to retain and grow its customer base.

The industry is moving towards solutions that combine payment processing with other business management functions. For Global Payments, this evolution presents an opportunity to innovate and offer more value-added services. This could involve enhancing electronic Point of Sale (ePOS) systems, integrating inventory management, customer relationship management, and analytics, thereby providing a more holistic business solution to merchants.

To maximize the benefits of the Takepayments acquisition, Global Payments needs to focus on effective integration with EVO Payments, leveraging operational synergies, and delivering a unified service experience. Innovation in payment solutions is crucial, as the company must develop modern, integrated systems that appeal to the evolving needs of small businesses. Retaining existing customers of Takepayments and attracting new ones through competitive and innovative offerings will be key. Additionally, staying attuned to market trends and being flexible in adapting to changing customer preferences will be vital for maintaining a competitive edge.

Strategic partnerships with other technology providers could further enhance Global Payments’ service offerings. Collaborations with software developers, fintech startups, and other relevant stakeholders can drive innovation and provide comprehensive solutions that meet the diverse needs of merchants.

The acquisition of Takepayments represents a significant step for Global Payments in strengthening its presence in the UK market. By leveraging the capabilities of Takepayments and integrating them with existing operations, Global Payments can enhance its service offerings and adapt to the modern demands of small businesses. However, the company must focus on innovation, customer retention, and strategic market adaptation to fully realize the potential of this acquisition and solidify its leadership in the global payments industry.