Travel Payments Sees $10.4 Billion Merger That Makes Worldpay a Stronger Competitor
Photo Credit: Customers at Lure restaurant use Worldpay's international currency and payment services without realizing it when they pay the bill. Worldpay has as large travel practice. Worldpay
Skift Take
Vantiv's $10.4 billion acquisition of Worldpay creates a payments-processing powerhouse with a huge hand in helping travel businesses boost online and mobile purchases. Due to competition from new rivals, fees are unlikely to spike yet.
Earlier this month, Worldpay, a UK-based payments processing company, was taken over by Vantiv, a U.S. counterpart, in a $10.4 billion deal. The combined company will be called Worldpay.
For the travel industry, in particular, Worldpay claims to be a market leader among payment providers. For example, its back-end technology has helped British Airways to ensure more customers complete the online payment process and to handle more efficiently payments across an array of currencies than the carrier's previous solution did.
Worldpay works with more than 80 airlines worldwide — including British Airways, Emirates, HK Express, Holiday Extras, Caribbean Airlines, Beijing Capital Airlines, Vanilla Air, and BMI Regional. It also has relationships with some online travel agents, such as Fareportal (owner of CheapOair) and other travel service providers.
Worldpay did not have much customer overlap with Vantiv, and claimed to be to be the largest acquirer of card transactions generate
