Payment services like PayPal, Square and Venmo have revolutionized the way we pay for goods and services, allowing retailers to conduct business seamlessly both online and in-person. The payment industry overall has taken a definitive turn away from cash in recent years, with retailers moving to solutions that support an omnichannel model, and investors have responded accordingly.
Venture capitalists have jumped head-long into the $1.9 trillion dollar payments and processing industry, and have been rewarded handsomely with billions of dollars in VC funding. Nearly $18.5 billion was invested in the sector in 2018, a 500% increase from 2017. That trend has, in turn, resulted in a flurry of M&A activity, with little sign of slowing down.