Cross-border Payment Mergers and Acquisitions Landscape in the Year 2023
In the bustling world of cross-border payments, the first three quarters of 2023 have seen some significant moves. Two major acquisitions have stood out, reshaping the landscape of this sector.
PayPal, the renowned digital payments giant, made a strategic move by acquiring Curv, a digital asset security company. This acquisition is expected to bolster PayPal's foray into the digital asset space, providing a secure foundation for its future cross-border transactions.
Visa, another heavyweight in the payments industry, also made a splash by purchasing Earthport, a cross-border payment platform. This acquisition is anticipated to strengthen Visa's global reach and capabilities, particularly in the area of cross-border payments.
It's important to note that these acquisitions represent a significant stake of the acquiree's business. However, it's crucial to acknowledge that the data analysed does not encompass every single acquisition made in the payments space during this period. The focus is on M&A involving companies that facilitate or enable cross-border payments, or have a substantial business focus in this area.
The cross-border payments M&A landscape has been under close scrutiny between 2022 and 2023. An analysis of the first three quarters of 2023 compared to Q1-Q3 2022 has been conducted to give an update on the state of cross-border payments M&A for the year so far.
The analysis does not include crypto exchanges unless they specifically mention their services in relation to international money transfers. Companies in the cross-border space merge for various reasons, such as expanding to new markets, acquiring new products, or capabilities.
Acquisitions need to have been publicly reported on Crunchbase or by established payments media outlets to be included in this analysis. As we move forward into the final quarter of 2023, the cross-border payments sector continues to evolve, and we eagerly await further developments.
