WASHINGTON, Aug. 9 (Xinhua) -- U.S. credit card processing company Vantiv agreed to buy its British-based rival Worldpay for 8 billion pounds (10.4 billion U.S. dollars) on Wednesday, a latest move in the wave of payments company mergers as consumers moving away from cash transactions to digital payments.
The combined company will be called "Worldpay" and headquartered in Cincinnati of Ohio, with a primary listing in New York and a secondary one in London.
The combined company will process some 1.5 trillion U.S. dollars in payments and 40 billion transactions through more than 300 payment methods in 146 countries and 126 currencies. "We're creating a truly global platform for expansion," said Worldpay CEO Philip Jansen.
The move is part of a recent wave of payments company mergers. "The growth of e-commerce and the way consumers expect to transact is increasing complexity for businesses around the world," explained Jansen.
Last week, a private equity consortium agreed to buy the UK-listed online payments group Paysafe Group for about 3.9 billion U.S. dollars. And French payment technologies company Ingenico Group announced in July to buy Stockholm-based payment services company Bambora for about 1.73 billion U.S. dollars.
