U.S. credit card processing company Vantiv Inc., announced plans Wednesday to take over U.K. payments group Worldpay Group Inc., with a offer valued at $10 billion. The offer beats out that of rival bidder J.P. Morgan Chase & Co., according to the Wall Street Journal.
Worldpay, with U.S. headquarters in Atlanta, is a London-based FinTech company that provides payment processing for mobile, online and in-store transactions in 146 countries. The company is the largest payment processor in Britain, where it accounts for about 42 percent of all retail transactions.
If successful, the deal between Vantiv and Worldpay, would create a trans-Atlantic payments processing giant with a combined market value of more than $20 billion.