Shares of Global Payments dropped 17% on Thursday following its announcement that it will acquire Worldpay for more than $24 billion while also selling its Issuer Solutions business to Fidelity National Information Services (FIS) for $13.5 billion. The acquisition of Worldpay expands Global Payments’ reach, allowing the company to serve over six million customers in more than 175 countries, with an annual payment volume of $3.7 trillion.
In the deal, Global Payments is moving towards a more merchant-focused payment service model, while FIS is shifting its focus to issuer processing. The move comes after FIS purchased Worldpay for approximately $35 billion in 2019 and later sold a majority stake in the company to GTCR. The transaction allows Global Payments to enhance its position in payment processing for merchants while divesting a back-end financial processing unit, which had been a reliable source of growth for the company.
To finance the Worldpay acquisition, Global Payments has secured bridge financing and plans to issue $7.7 billion in debt to refinance Worldpay’s outstanding obligations. CEO Cameron Bready described the move as a “defining day,” emphasizing that it would significantly boost the company’s capabilities, market access, and financial profile.
However, the market reacted negatively to the deal, with analysts at Mizuho viewing the acquisition as a step backward. Mizuho analysts maintained their neutral rating on Global Payments, expressing concerns about potential margin pressure. They suggested that FIS had come out ahead in the transaction, acquiring the “crown jewel,” while Global Payments received “more of the same.”
In contrast, FIS saw a positive market reaction, with its shares rising by more than 8% on Thursday. Both deals are expected to close in the first half of 2026, pending regulatory approval.
Despite the market’s lukewarm reception, Global Payments believes the deal will significantly enhance its competitive position in the payments industry, offering new growth opportunities and scale as it continues to expand its global footprint.
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