Stephanie Ferris has had two pivotal experiences in her career at Vantiv — first, leaving a 20-year career in finance to become general manager of Vantiv’s bank referral business; and second, becoming CFO of Vantiv (now Worldpay) in March 2017.
Giving merchants direct access to third-party software isn’t new—First Data’s Clover unit introduced the concept three years ago—but Vantiv is giving its approach a custom-development spin with an app marketplace.
TSYS has expanded its relationships with ISOs or entered into joint ventures with companies such as super ISO Central Payment. TSYS has been gradually increasing its stakeholder share in Central Payment as part of the collaboration.
Revenue growth in its merchant payments business is expected to be tepid in the foreseeable future. The Minneapolis company says it is looking to ramp up innovation to stay competitive in a business that has been upended by fintech firms and online shopping.
The deal partners said the cost savings opportunities and international reach presented by the combination were appealing, and JPMorgan Chase said it won’t make a bid after being invited to consider an offer.