Tell us about your experiences with Marketplace. Enter To Win

How we pay for things is changing, and payment companies are merging to adapt

Sabri Ben-Achour May 28, 2019
HTML EMBED:
COPY
Joe Raedle/Getty Images

How we pay for things is changing, and payment companies are merging to adapt

Sabri Ben-Achour May 28, 2019
Joe Raedle/Getty Images
HTML EMBED:
COPY

Two companies you’ve definitely used but probably never heard of are merging. Global Payments is buying Total System Services in an all stock deal worth $21.5 billion. They are what are called payment processing companies — any time you swipe your card card or dip that chip at a restaurant or convenience store, they or companies like them are on the back end making it happen. Payment processing companies have been on a merger bender, and it tells us a lot about how the way we pay for things is changing.

Click the audio player above to hear the full story.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.