Global Payments Inc. is an American company providing financial technology services globally. Headquartered in Atlanta, its stock is a component of the S&P 500 stock market index.
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Business
Global Payments provides payment processing services to merchants, allowing them to accept credit and debit cards, along with other payment types (this role is known as a merchant acquirer). In return, they receive a percentage of the transaction value (usually about 1-2% for credit cards). They provide these services both directly to merchants, and indirectly through other financial organizations. Global Payments also provides other supporting ("vertical") services and analytics ("omnichannel") to customers of its main payment processing services. As of 2017, 40% of revenue was derived from vertical and omnichannel services. As of 2016, 75% of Global Payments revenue was from North America, 18% was from Europe, and 7% was from Asia-Pacific. Global Payments processes approximately 6 billion transactions per year for 1 million merchant locations. Both Global Payments and its subsidiary Heartland Payment Systems were among the leading credit card processing companies in 2016, according to Business Insider. Global Payments has 8500 employees.
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History
Global Payments was founded in 2000 and spun off from National Data Corporation, its former parent company, in 2001. 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 October 2012, it acquired the smaller Accelerated Payment Technologies for $413 million. In October 2014, it purchased Australian payment processing company Ezidebit for $305 million. In January 2015, it bought Payment Processing (also known as PayPros), a California company, for $420 million. Its headquarters moved from Sandy Springs, Georgia to Atlanta, Georgia in 2016. In April 2016, it acquired Heartland Payment Systems for $4.3 billion. As a result of its increased size from the Heartland acquisition, it joined the S&P 500 Index in 2016. It is a Fortune 1000 company.
Controversy
In 2012, a data breach at Global Payments affected 1.5 million credit and debit card numbers. This breach eventually cost the company around $100 million. In 2015, a technical fault with Global Payments's systems led to thousands of British businesses being unable to accept credit card payments on Valentine's Day weekend.
References
External links
- Official website
Source of article : Wikipedia
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