The US payments industry saw a rise of 15.6% in overall deal activity during Q3 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 37 deals worth $2.45bn were announced in Q3 2020, compared to the last four-quarter average of 32 deals.

Venture financing was the leading category in the quarter with 23 deals which accounted for 62.2% of all deals.

In second place was M&A with ten deals, followed by private equity with four transactions, respectively accounting for 27.03% and 10.8% of overall deal activity in the country’s payments industry during the quarter.

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In terms of value of deals, M&A was the leading deal category in the US payments industry with total deals worth $1.3bn, while private equity and venture financing deals totalled $767.67m and $385.26m, respectively.

The US payments industry deals in Q3 2020: Top deals

The top five payments deals accounted for 83.6% of the overall value during Q3 2020.

The combined value of the top five payments deals stood at $2.05bn, against the overall value of $2.45bn recorded for the month.

The top five payments industry deals of Q3 2020 tracked by GlobalData were:

1) The $1.3bn merger of FinTech AcquisitionIII and Paya

2) The $350m private equity deal with Multi Service Technology Solutions by Corsair Capital

3) Bond Gifting, Canapi, DST Global, Fin Venture Capital, Goodwater Capital, Relay Ventures and TTV Capital’s $215m venture financing of Greenlight Financial Technology

4) The $100m venture financing of PayActiv by Eldridge Industries, Generation Partners, Ziegler LinkAge Fund II and L.P

5) DN Capital, Threshold Ventures, Generation Investment Management, Owl Rock Capital, PayU, Princeville Global, Stripes and Top Tier Capital Partners’ venture financing of Remitly for $85m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.