Vantiv was early to 'integrated payments,' a strategy that's paid dividends through a number of acquisitions, including Friday's announced $425 million deal to acquire Moneris USA from Canada's Moneris Corp.
Cincinnati-based Vantiv expects the deal, which will close sometime this quarter, should accelerate its growth in integrated payments and merchant bank channels, according to a spokesperson.
Integrated payments refers to placing other business functions at the point of sale. Vantiv spent $1.65 billion in 2014 to acquire Mercury Payments, a move that positioned Vantiv to take advantage of early moves into multi-channel shopping, payments and expanded merchant services, all considered table stakes in today's merchant acquiring and processing industries as mobile payments and marketing mature.
More moves followed the Mercury deal, including collaborations with financial institutions such as Capital One that further enhanced the processor's merchant services heft.
Vantiv recently debuted Vantiv One, which provides a suite of technology development and support tools to take advantage of the growing trend toward open development.
The pending Moneris USA deal will add scale; Vantiv will service Moneris USA's merchants and other business relationships, including BMO Harris Bank, which operates about 600 branches in the U.S. Moneris USA processed about $12 billion in payments in 2015.