Nilson Report

Issue 1068 | Jul 2015


Companies featured in this issue include:

Card Fraud Worldwide 1993 - 2014

Card Fraud Projected - Global Losses

Market Capitalization & Revenue for Payment Companies

U.S. Visa & MasterCard Commercial Cards

Largest U.S. Issuers of Consumer Visa & MasterCard Cards 2014

Growth in Fraud vs. Total Card Volume Worldwide

Card Fraud in Basis Points

Merchant Acquirers in Middle East/Africa 2014

Merchant Acquirers in Middle East/Africa 2014

Ranked on page 11 are the 30 largest merchant acquirers in the Middle East/Africa region. Those acquirers are based in 12 countries.

610.9 mil. V/MC Transactions
First National Bank
446.2 mil. V/MC Transactions
Standard Bank
280.8 mil. V/MC Transactions
211.7 mil. V/MC Transactions
Network International
146.2 mil. V/MC Transactions

Full access to the Merchant Acquirers in Middle East/Africa 2014 is available when you subscribe to The Nilson Report. 

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Publicly Traded Payment Companies

Please note: Only subscribers can access the charts included with this article.

Turn to page 7 for a list of more than 50 publicly traded companies in the payment industry worldwide. This group excludes full-service commercial banks with card issuing and acquiring businesses. Also mentioned are more than a dozen other payment industry firms owned by private equity companies that are candidates for initial public offerings (IPOs) of common stock.

This month PayPal become publicly traded for the second time since being founded in 1998. The company, which processed $235 billion in payments from more than 4 billion transactions last year, began trading on Nasdaq on July 20, 2015. PayPal’s market capitalization, the total market value of its outstanding shares, exceeds $47 billion. Only Visa, MasterCard, and American Express are larger. 

The number of publicly traded payment industry vendors worldwide will grow by year-end. First Data and Square have filed notice with the U.S. Securities and Exchange Commission. U.K.-based Worldpay will announce an initial public offering of common stock on the London Stock Exchange. 

First Data was a publicly traded company in 2007 when private equity firm KKR & Co. paid $29 billion for it in a leveraged buyout involving $23 billion in debt. Ranked by announced revenues, First Data is the fourth largest company in the payment industry. Analysts estimate its current market capitalization to be in the $40 billion range, which would make it the industry’s fifth largest publicly traded company. 

Square, which was founded in 2009, handled more than $29 billion in card payments last year. The company is an aggregator of card payments, mainly from micromerchants. It pioneered the use of a card reader dongle for smartphones and the related payment software. 

Worldpay is the largest merchant acquirer in Europe and the sixth largest worldwide. It is owned by Advent International and Bain Capital. Analysts predict its IPO will involve more than $9 billion in stock, which would be more than three times what the private equity firms paid for Worldpay in 2010.

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