December 19, 2017
Consolidation in the wider e-commerce payments and fraud ecosystem continued this week with the announcement of two major acquisitions. TSYS, one of the largest payment processors in the U.S., yesterday announced it has agreed to acquire Boston-based payment provider Cayan for around $1.05 billion. Cayan focused mainly on bringing omnichannel capability to small and midsize businesses through its Genius technology platform. Cayan’s portfolio includes 70,000 businesses and processed about $20 billion in payments in 2016.
Separately, Cybersecurity firm Thales Group has signed an agreement to purchase digital security company Gemalto for around $5.4 billion. According to a press release, Thales believes the acquisition will add expertise in biometric and multifactor authentication, and the issuance of secure digital and physical credentials. For e-commerce companies with ambitions to operate in Europe, authentication technologies will become increasingly important for compliance with new EU regulations coming into force this year.