In a major shakeup in the digital payments world, Global Payments has announced a $24.25 billion deal to acquire Worldpay from Fidelity National Information Services (FIS) and private equity firm GTCR. The move signals a strategic shift as Global Payments aims to double down on merchant services, while FIS pivots to strengthening its core banking technology business.
The transaction, unveiled Thursday, is a two-part agreement. Global Payments will take over Worldpay using a mix of cash and stock. Simultaneously, it will sell its issuer solutions unit—which handles card processing and account services—to FIS for $13.5 billion. This reshuffle allows both companies to streamline their operations and focus on their strongest markets.
For Global Payments, this acquisition marks a bold step to become a pure-play merchant payments giant. By integrating Worldpay’s strength in online and enterprise-level transactions with its own stronghold in small to mid-sized business payments, the company is poised to serve over 6 million clients and process 94 billion transactions across 175+ countries. The combined business is expected to generate $12.5 billion in adjusted net revenue and $6.5 billion in core earnings.
“This deal creates a merchant solutions powerhouse,” said Cameron Bready, CEO of Global Payments. “The combined scale and capabilities position us as a global leader.”
Private equity firm GTCR, which only acquired a majority stake in Worldpay less than two years ago, stands to gain significantly. Once the transaction is complete, GTCR will hold a 15% stake in Global Payments, reaping a sizable return on its short-term investment.
Meanwhile, FIS is reclaiming strategic clarity by focusing on its bank and financial institution clients. With the issuer solutions unit in hand and a complete exit from Worldpay—an asset it originally purchased in 2019 for $43 billion—FIS plans to strengthen its credit and debit card processing portfolio. According to CEO Stephanie Ferris, the merger will offer “substantial cross-selling opportunities” and could boost adjusted free cash flow by $500 million in the first year post-close.
Analysts suggest this consolidation was long overdue. “Global Payments is finally addressing years of uninspiring growth and strategic missteps,” wrote Andrew Jeffrey of William Blair.
The deal also comes amid increased pressure on traditional payment processors from newer fintech startups offering more agile and lower-cost services. Both Global Payments and FIS have seen lackluster share performance in recent years. Global Payments’ shares dropped 17.4% following the announcement, while FIS saw an 8.7% rise.
The transactions are expected to close in Q1 2026, pending regulatory approvals. Advisors include Goldman Sachs for FIS, Morgan Stanley for GTCR, and Wells Fargo for Worldpay.
In a rapidly evolving payments landscape, this strategic realignment could help both companies stay competitive, streamline operations, and better serve a global client base. As the fintech space continues to grow, expect more consolidation as industry leaders adapt to the changing tide.
