Global Payments

Global Payments Inc.
Public
Traded as NYSE: GPN
S&P 500 Component
Industry Payment processing
Founded

2000 (2000), as a National Data Corporation subsidiary

2001 (2001), spun off from parent company
Headquarters Three Alliance Center
Atlanta, Georgia, U.S.
Key people
 William I. Jacobs
(Chairman of the Board)
Jeffrey S. Sloan
(CEO)
Cameron M. Bready
(Executive VP & CFO)
Revenue Increase US$ 3.98 billion (2017)
Increase US$ 558.87 million (2017)
Increase US$ 494.07 million (2017)
Total assets Increase US$ 13.00 billion (2017)
Total equity Increase US$ 3.97 billion (2017)
Number of employees
 ~10,000 (2017)
Website GlobalPaymentsInc.com
Footnotes / references
[1]

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.

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.[2] As of 2016, 75% of Global Payments revenue was from North America, 18% was from Europe, and 7% was from Asia-Pacific.[3] Global Payments processes approximately 6 billion transactions per year for 1 million merchant locations.[4] Both Global Payments and its subsidiary Heartland Payment Systems were among the leading credit card processing companies in 2016, according to Business Insider.[5] Global Payments has 8500 employees.

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.[6] In October 2014, it purchased Australian payment processing company Ezidebit for $305 million.[7] In January 2015, it bought Payment Processing (also known as PayPros), a California company, for $420 million.[8] Its headquarters moved from Sandy Springs, Georgia to Atlanta, Georgia in 2016.[9] In April 2016, it acquired Heartland Payment Systems for $4.3 billion.[10] As a result of its increased size from the Heartland acquisition, it joined the S&P 500 Index in 2016.[11] It is a Fortune 1000 company.[12] In 2017, Global Payments initiated acquiring divisions of Active Networks.[13] In 2018, Global Payments completed acquisition of AdvancedMD.[14]

Controversy

In 2012, a data breach at Global Payments affected 1.5 million credit and debit card numbers.[15][16] This breach eventually cost the company around $100 million.[17] 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.[18]

References

  1. ↑ "US SEC: Form 10-K Global Payments Inc". U.S. Securities and Exchange Commission. Retrieved March 1, 2018.
  2. ↑ Cochrane, Matthew. "Global Payments' Successful Two-Pronged Strategy". Motley Fool. Retrieved 18 November 2017.
  3. ↑ "Global Payments 2016 Annual Report". Global Payments. Retrieved 18 November 2017.
  4. ↑ "Global Payments Merchant Services". CIBC. Retrieved 18 November 2017.
  5. ↑ Meola, Andrew. "These are the leading credit card processing companies". Business Insider. Retrieved 18 November 2017.
  6. ↑ CNBC (2012-10-02). "Global Payments closes on APT acquisition". CNBC. Retrieved 2017-12-31.
  7. ↑ Passmore, Daryl (2014-10-10). "Easy way to becoming a multimillionaire". The Courier-Mail. Retrieved 2017-12-31.
  8. ↑ Whiteman, Lou (2014-01-24). "Global Payments Swipes Smaller Rival". TheStreet. Retrieved 2017-12-31.
  9. ↑ Ibata, David (2016-07-06). "Global Payments moving HQ to Atlanta from Sandy Springs". The Atlanta Journal-Constitution. Retrieved 2017-12-19.
  10. ↑ Merced, Michael J. de la (2015-12-15). "Global Payments to Buy Heartland Payment for $4.3 Billion". The New York Times. ISSN 0362-4331. Retrieved 2017-12-31.
  11. ↑ Derrick, Jayson (2016-04-20). "(CHUY), Gamestop Corporation (NYSE:GME) - Index Shuffling: Global Payments To Join S&P 500, GameStop To Join S&P MidCap 400, And More". Benzinga. Retrieved 2017-12-19.
  12. ↑ "Global Payments". Fortune.
  13. ↑ Jones, Donovan (2017-08-10). "Global Payments To Acquire ACTIVE Network Divisions From Vista Equity Partners". Seeking Alpha. Retrieved 2018-09-24.
  14. ↑ "Global Payments Completes Acquisition of AdvancedMD". Retrieved 2018-09-24.
  15. ↑ Pepitone, Julianne. "1.5 million card numbers at risk from hack". CNNMoney. Retrieved 2017-12-18.
  16. ↑ Sidel, Robin; Johnson, Andrew R. (2012-03-30). "Data Breach Sparks Worry". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-18.
  17. ↑ "The 10 Biggest Bank Card Hacks". WIRED. Retrieved 2017-12-18.
  18. ↑ Brooks-Pollock, Tom. "Global Payments: Thousands of firms left fuming after card payment glitch hits business on Valentine's Day weekend". The Mirror. Retrieved 18 November 2017.
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