Global Payments
 | |
| Company type | Public |
|---|---|
| Industry | Payment processing |
| Founded | 2000, as a National Data Corporation subsidiary 2001, spun off from parent company |
| Headquarters | Three Alliance Center Atlanta, Georgia, U.S. |
Key people | Cameron M. Bready (president and CEO) Andréa Carter (CHRO) David Rumph (CFO) |
| Revenue |  US$10.1 billion (2024) |
| US$2.33 billion (2024) | |
| US$1.57 billion (2024) | |
| Total assets |  US$46.9 billion (2024) |
| Total equity | US$22.3 billion (2024) |
Number of employees | 27,000 (2024) |
| Subsidiaries | |
| Website | globalpayments |
| Footnotes / references [1] |
Global Payments Inc. is an American multinational financial technology company that provides payment technology and services to merchants, issuers and consumers.[2] In June 2021, the company was named to the Fortune 500.[3] The company processes payments made through credit cards, debit cards,[4] and digital and contactless payments.[5]
History
[edit]Global Payments was founded in 1996 and spun off from National Data Corporation, its former parent company, in 2001.[6] Global Payments has been an independent, publicly traded company on the New York Stock Exchange having the ticker symbol “GPN” since its spin off.
In 2009, it paid $75 million for United Card Service, Russia's leading credit card processing company.[7] In 2011, Global Payments's United Card Service bought Alfa-Bank's credit card processing unit.[7] In October 2012, it acquired the smaller Accelerated Payment Technologies for $413 million.[8] In October 2014, it purchased Australian payment processing company Ezidebit for $305 million.[9] In January 2015, it bought Payment Processing (also known as PayPros), a California company, for $420 million.[10]
In March 2015, Global Payments bought Realex Payments, an Irish-based payments gateway services company, for €115 million.[11] On April 25, 2016, Global Payments completed the acquisition of Heartland Payment Systems[7] for $4.3 billion.[12] Both Global Payments and its subsidiary Heartland Payment Systems were among the leading credit card processing companies in 2016, according to Business Insider.[13] Its headquarters moved from Sandy Springs, Georgia to Atlanta, Georgia in 2016.[14]
In 2017, Global Payments initiated acquiring divisions of Active Networks.[15] In 2018, Global Payments completed the acquisition of AdvancedMD.[16] Also in 2018, Global Payments completed the acquisition of Sentral Education.[17]
On May 28, 2019, Global Payments announced a $21.5 billion merger with TSYS. The merger was expected to trigger a Federal Trade Commission investigation.[18] However, no such investigation occurred.
In August 2022, Global Payments entered a definitive agreement to acquire EVO Payments Inc. for nearly $4 billion.[19][20]
On May 1, 2023, the company announced that CEO Jeffrey M. Sloan would resign, effective June 1, 2023. COO Cameron M. Bready succeeded him as CEO and president.[21] As of July 2023, no single COO of the company had been named. Instead, two individuals were appointed to oversee domestic and international operations as Senior Executive Vice Presidents: Vince Lombardo and Bob Cortopassi, respectively.[22]
Starting in early 2024 and continuing into September, Global Payments began laying off staff. These layoffs took place in the US, Canada, UK and India, as well as other smaller regional markets. Approximately 5400 employees were laid off during this time.[23] Just weeks before the September lay offs were announced, Global Payments reported their second quarter results. Global Payments reported a net income of $296.4 million, a significant increase of $46.6 million compared to $249.7 million in the same quarter of 2023.[24]
In April 2025, Global Payments agreed to acquire Worldpay, a payments technology provider, for $22 billion from GTCR and FIS. As part of this deal, they also agreed to sell their Issuer Solutions business, TSYS, to FIS for $13.5 billion. [25][26] In January 2026, following regulatory approvals in multiple jurisdictions, it was announced the acquisition had been completed with a final transaction valued at $24.25 billion.[27]
TSYS Acquisition
[edit]On September 18, 2019, TSYS and Global Payments completed their merger agreement for $21.5 billion.[28]
In January 2026, Global Payments sold TSYS to FIS for $13.5 billion.[29]
Services and operations
[edit]Global Payments provides payment services directly to merchants and indirectly through other financial organizations. Its technology-enabled services also support integrated payments, e-commerce, and omni-channel services.[4][5]
Global Payments operates in more than 100 countries and serves 3.5 million merchants as well as 1,300 financial institutions.[30] The company processes more than 50 billion transactions per year.[31] After merging with TSYS in 2019, Global Payments has nearly 24,000 employees.[32]
In 2020, 63 percent of the company's revenue was derived from "Merchant Solutions" [33] 26 percent from Issuer Solutions,[34] and 11 percent from the Business and Consumer Solutions segment,[35] which operates as NetSpend.[36] Eighty percent of Global Payments Merchant Solutions revenue was from North America, 15 percent was from Europe, and five percent was from Asia.[37]
As of 2023, Global Payments does not have a singular Chief Operating Officer (COO). Instead the company divides operations into two distinct branches: domestic "US Merchant Solutions" headed by Senior Executive Vice President Vince Lombardo and international and vertical markets headed by Senior Executive Vice President Bob Cortopassi.[38] Current CEO Cameron M. Bready was formerly the COO of the company, but no COO was announced as part of the succession plan.[39]
Data breaches and faults
[edit]In 2012, a data breach at Global Payments affected 1.5 million credit and debit card numbers.[40][41] This breach eventually cost the company around $100 million.[42] In 2015, a technical fault with Global Payments' systems led to thousands of British businesses being unable to accept credit card payments on Valentine's Day weekend.[43]
Lawsuits
[edit]Story v. Heartland Payments Systems
[edit]In 2019, Global Payments subsidiary Heartland Payments Systems was sued by Florida resident Max Story, alleging that Heartland defrauded parents of school children by leading them to believe that fees collected by the MySchoolBucks online lunch payment service, which Heartland owns and operates and which is used by 2 million people with children in 30,000 schools in the US, were going to their children's schools when in fact the money was going to Heartland.[44] Shortly after the lawsuit was filed, Heartland deposited $40,000 into Story's bank account in an attempt to nullify Story's legal standing to sue, but Story refused to accept the payment and reversed the deposit.[44] To limit the number of people who could potentially join the lawsuit if it is granted class action status, Heartland also updated its terms of service in 2019 to require MySchoolBucks users to accept that they "will not be permitted to participate in the Story case as a class member."[44]
References
[edit]- ^ "US SEC: Form 10-K Global Payments Inc". U.S. Securities and Exchange Commission. February 14, 2025. Retrieved February 18, 2025.
- ^ "Global Payments and TSYS to combine in 'merger of equals'". Atlanta Business Chronicle. May 28, 2019. Retrieved August 10, 2021.
Combined, Global Payments and TSYS will provide payments and software services to approximately 3.5 million predominantly small to mid-sized (SMB) merchant locations and more than 1,300 financial institutions across more than 100 countries.
- ^ "Fortune 500: Global Payments". Fortune. June 2, 2021. Retrieved August 11, 2021.
The company provides payment technology and software services; in all, it facilitates transactions for more than 3 million businesses. Global Payments makes its debut on the Fortune 500 this year, buoyed by a stellar 2020 in which its revenue rose 51%, to $7.4 billion, as the pandemic encouraged more consumers to adopt cashless payment.
- ^ a b "Major Fintech Merger Speaks to Supremacy of Software in Age of Stripe, Square". Cheddar. May 28, 2019. Archived from the original on July 31, 2021. Retrieved August 10, 2021.
Global Payments is the fifth largest merchant acquirer in the U.S., meaning it processes credit and debit card payments for merchants.
- ^ a b "Global Payments Shows Glimmers of Optimism in the Face of Covid-19 Lockdowns". DigitalTransactions.net. May 6, 2020. Retrieved August 10, 2021.
E-commerce processing is thriving as consumers stuck at home shift shopping patterns away from in-store purchases. The company's ominichannel and e-commerce processing business was up about 10% last month, Sloan reported. The company has also seen a 30% jump in contactless payments year-over-year, Sloan said, though he did not give specifics. Companies are reporting higher contactless card usage as consumers avoid touching keypads at the point of sale.
- ^ "Global Payments Timeline". Archived from the original on 2020-08-08. Retrieved 2020-08-12.
- ^ a b c Dexter Filkins (8 October 2018). "Was There a Connection Between a Russian Bank and the Trump Campaign? A team of computer scientists sifted through records of unusual Web traffic in search of answers". NewYorker.com. Retrieved 12 October 2018.
- ^ CNBC (2012-10-02). "Global Payments closes on APT acquisition". CNBC. Retrieved 2017-12-31.
- ^ Passmore, Daryl (2014-10-10). "Easy way to becoming a multimillionaire". The Courier-Mail. Retrieved 2017-12-31.
- ^ Whiteman, Lou (2014-01-24). "Global Payments Swipes Smaller Rival". TheStreet. Retrieved 2017-12-31.
- ^ "Global Payments Acquires Realex Payments".
- ^ de la Merced, Michael J. (2015-12-15). "Global Payments to Buy Heartland Payment for $4.3 Billion". The New York Times. ISSN 0362-4331. Retrieved 2017-12-31.
- ^ Meola, Andrew. "These are the leading credit card processing companies". Business Insider. Retrieved 18 November 2017.
- ^ Ibata, David (2016-07-06). "Global Payments moving HQ to Atlanta from Sandy Springs". The Atlanta Journal-Constitution. Retrieved 2017-12-19.
- ^ Jones, Donovan (2017-08-10). "Global Payments To Acquire ACTIVE Network Divisions From Vista Equity Partners". Seeking Alpha. Retrieved 2018-09-24.
- ^ "Global Payments Completes Acquisition of AdvancedMD". Retrieved 2018-09-24.
- ^ "Private Equity Hotshots and Deals". Retrieved 2018-12-28.
- ^ "Global Payment Merger with Total System".
- ^ Feuer, Will (2022-08-01). "Global Payments to Buy EVO Payments". The Wall Street Journal. ISSN 0099-9660. Retrieved 2022-08-01.
- ^ Bary, Emily (August 2022). "Global Payments to buy EVO Payments for $4 billion". MarketWatch. Retrieved 2022-08-01.
- ^ "Global Payments Announces CEO Succession Plan". Yahoo Finance. 1 May 2023. Retrieved 23 July 2023.
- ^ "Executive Team". Global Payments Inc. 2023. Retrieved 23 July 2023.
- ^ Post; Share; Post; Print; Email; License. "Global Payments CEO reshapes the business". Payments Dive. Retrieved 2024-09-19.
{{cite web}}:|last5=has generic name (help) - ^ "Global Payments Reports Second Quarter 2024 Results". Global Payments Inc. 2024-08-07. Retrieved 2024-09-19.
- ^ "Global Payments buying Worldpay in $22 billion deal". AP News. 2025-04-17. Retrieved 2025-04-22.
- ^ "FIS Completes Strategic Acquisition of Global Payments' Issuer Solutions Business and Sale of Worldpay Stake". FISGlobal. 2026-01-12. Retrieved 2026-02-27.
- ^ "Global Payments completes $24.25bn Worldpay deal". 2026-01-12. Retrieved 2026-01-12.
- ^ Panchadar, Arjun (28 May 2018). "Global Payments to buy TSYS for $21.5 billion in latest fintech deal". Reuters.
- ^ "FIS Completes Strategic Acquisition of Global Payments' Issuer Solutions Business and Sale of Worldpay Stake". FISGlobal. 2026-01-12. Retrieved 2026-02-27.
- ^ "Global Payments Completes TSYS Merger and other Digital Transactions News briefs from 9/18/19". DigitalTransactions.net. September 18, 2019. Retrieved August 10, 2021.
The merged company serves 3.5 million merchant locations and 1,300 financial institutions in more than 100 countries.
- ^ "Global Payments to buy TSYS for $21.5 billion in latest fintech deal". Reuters. May 28, 2019. Retrieved August 10, 2021.
After the deal Global Payments will process more than 50 billion transactions annually across the world, making it one of the biggest players in integrated payment technology.
- ^ "TSYS, Global Payments merger complete; Management team announced". WRBL. September 18, 2019. Retrieved August 10, 2021.
The new company has more than 24,000 employees.
- ^ "Will Global Payments (GPN) Sustain Its Earnings Streak in Q2?". Zacks.com. July 26, 2021. Retrieved August 11, 2021.
Revenues of Global Payments' biggest operating segment, which is Merchant solutions, (accounting for 63 percent of the company's top line), are likely to have grown as a result of higher spending.
- ^ FORM 10-K (PDF) (Report). Global Payments. February 26, 2021. p. 37. Archived from the original (PDF) on 2021-09-09. Retrieved August 11, 2021.
Year Ended December 31, 2020, Issuer Solutions: $1,981,435 (dollar amounts in thousands); 26.7% of Revenue
- ^ FORM 10-K (PDF) (Report). Global Payments. February 26, 2021. p. 37. Archived from the original (PDF) on 2021-12-13. Retrieved August 11, 2021.
Year Ended December 31, 2020, Business and Consumer Solutions: $829,505 (dollar amounts in thousands); 11.2% of Revenue
- ^ FORM 10-K (PDF) (Report). Global Payments. February 26, 2021. p. 9. Archived from the original (PDF) on 2021-12-13. Retrieved August 11, 2021.
Our Business and Consumer Solutions segment provides general purpose reloadable ("GPR") prepaid debit and payroll cards, demand deposit accounts and other financial services to the underbanked and other consumers and businesses in the United States through our Netspend® and other brands.
- ^ FORM 10-K (PDF) (Report). Global Payments. February 26, 2021. p. 77. Archived from the original (PDF) on 2021-12-13. Retrieved August 11, 2021.
Merchant Solutions – Americas: $3,240,233; Europe: $614,747; Asia Pacific: $243,600
- ^ "Bob Cortopassi, Global Payments Inc: Profile and Biography". Bloomberg.com. Retrieved 23 July 2023.
- ^ "Global Payments Announces CEO Succession Plan". Global Payments Inc. 1 May 2023.
- ^ Pepitone, Julianne. "1.5 million card numbers at risk from hack". CNNMoney. Retrieved 2017-12-18.
- ^ Sidel, Robin; Johnson, Andrew R. (2012-03-30). "Data Breach Sparks Worry". The Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-18.
- ^ "The 10 Biggest Bank Card Hacks". WIRED. Retrieved 2017-12-18.
- ^ Brooks-Pollock, Tom (15 February 2015). "Global Payments: Thousands of firms left fuming after card payment glitch hits business on Valentine's Day weekend". The Mirror. Retrieved 18 November 2017.
- ^ a b c Lumpkin, Lauren (2019-09-26). "Lawsuit alleges lunch payment service used in local schools defrauded parents". The Washington Post. Archived from the original on 2023-03-26. Retrieved 2024-09-09.
External links
[edit]- Business data for Global Payments Inc.:
