The payments sector is getting a major shakeup, with Global Payments agreeing a $22.7 billion deal to acquire Worldpay from GTRC and FIS while offloading its Issuer Solutions business to FIS for $13.5 billion.
Global Payments says Worldpay provides highly complementary payments, software and commerce enablement technology to merchants and partners worldwide. On a combined basis, the company will serve more than six million customers and enable approximately 94 billion transactions and $3.7 trillion in volume across more than 175 countries.
Meanwhile, shedding the Issuer Solutions business will simplify operations and leave the company to focus on being a leading pure play merchant solutions provider.
Cameron Bready, CEO, Global Payments, says: "The acquisition of Worldpay and divestiture of Issuer Solutions further sharpen our strategic focus and simplify Global Payments as a pure play merchant solutions business with significantly expanded capabilities, extensive scale, greater market access and an enhanced financial profile."
The deal to sell Worldpay and exit the merchant services business comes two years after FIS sold a 45% stake in the unit to private equity funds managed by GTRC at a valuation of $18.5 billion.
FIS will secure $6.6 billion in pre-tax value for its stake in Worldpay and pay Global Payments a net purchase price of $12 billion plus $1.5 billion of anticipated net present value of tax assets for Issuer Solutions.
This business, says FIS, adds a strong product suite in credit processing, fraud, loyalty and other value-added services to its existing portfolio of debit processing, network services, payments processing, loyalty solutions and AR/AP banking services.
“The acquisition of Issuer Solutions is a strategic and accretive transaction that will expand FIS’ payment product suite and deepen our relationships with financial institutions and corporate clients,” says Stephanie Ferris, CEO, FIS.
The deals are slated to close in the first half of 2026, subject to regulatory approval.