Worldliness $2.75 billion deal for SIX Payment Services sets stage for more consolidation

Worldliness $2.75 billion deal for SIX Payment Services sets stage for more consolidation

Wordline is to acquire the payments service business of Switzerland’s SIX Group in a deal which values the cards unit at $2.75 billion.

At Worldline, connecting and securing transactions on daily basis. Covering the entire payment value chain, their technological experts create and operate digital platforms that handle the millions of highly critical transactions between a company, its partners, and its customers.

SIX Payment Services offers financial institutions and merchants secure, innovative services along the entire value chain of cashless payments. Their tailor-made solutions include settlement of domestic and international payments by credit, debit and prepaid card. One of Europe’s largest card transaction processors and market leader in Switzerland, Austria and Luxembourg, SIX Payment Services ensures that card-based payments in Switzerland and abroad are both accepted and processed.

Value chain of cashless payment transaction

France’s Worldline beat competition from U.S. bidders to land the SIX business, reflecting a drive by financial sector companies to gain scale to benefit from the shift towards electronic and online payments.

SIX Chairman Romeo Lacher said that this strategic partnership will makes them Europe’s leading and largest provider in one go. In the future, in addition to the existing SIX Payment Services offerings, their customers will also benefit from Worldline’s innovative solutions along the entire value chain of cashless payment transaction.

Atos stated that it fully supports the transaction and has committed to vote all of the Worldline shares it currently holds in favor of the share issuance and the contribution at the Worldline Extraordinary General Meeting.