The Nilson Report

THE CURRENT ISSUE: Issue 1075 | Nov 2015


Companies featured in The Current Issue include:

Headlines from The Current Issue

Top Card Issuers in Asia-Pacific 2014

Visa Inc. to Acquire Visa Europe

Chase Pay/MCX Mobile Payments and Rewards

Worldline and Equens Merge Processing Assets

MasterCard Zero Fraud Liability

RevolutionCredit Behavioral Risk Scores

Brighterion Artificial Intelligence Technology

U.S. General Purpose Cards through 3Q ‘15

Investments & Acquisitions - October 2015

Centerm POS Terminals

Charts in this Issue

Top 25 Issuers in Asia-Pacific 2015

Investments & Acquisitions - October 2015

U.S. General Purpose Cards 3Q YTD ’15 vs. 3Q YTD ‘14

Top Credit Card Issuers in Asia-Pacific 2014

Top Debit Card Issuers in Asia-Pacific 2014

Top General Purpose/Visa/MasterCard Card Issuers in Asia-Pacific 2014

U.S. General Purpose Cards through 3Q YTD ´15 vs. 3Q YTD ´14

Payment card spending on cards issued in the U.S. after the first 9 months of 2015 show purchase volume (spending at merchants) for Visa, MasterCard, American Express, and Discover credit and debit products.

1. Visa Debit & Prepaid:
$1,018.52 bil. Purchase Vol.
2. Visa Credit:
$986.15 bil. Purchase Vol.
3. American Express Credit:
$528.13 bil. Purchase Vol.
4. MasterCard Credit:
$478.64 bil. Purchase Vol.
5. MasterCard Debit & Prepaid:
$429.40 bil. Purchase Vol.

Full access to the U.S. General Purpose Cards through 3Q YTD ’15 vs. 3Q YTD ’14 results is available when you subscribe to The Nilson Report.



Worldline, which earned $1.38 billion in revenues last year from merchant acquiring, cardholder account processing, software licensing, and mobile payment and identification services, will merge select assets with Equens, also a processor of merchant and cardholder transactions as well as of automated clearing house and other noncard payments. Equens’ revenues were $326 million last year. The merger is expected to close in the second quarter of 2016.

The new corporation, Equens Worldline Company (EWC), will be 63.6% owned by Worldline, which was spun off from Atos in an initial public offering last year, and 36.4% by the owners of Equens — ABN Amro, DZ Bank, ICBPI, ING, and Rabobank. EWC will not include Worldline’s Merchant Services & Terminals or Mobility and e-Transactional Services business lines, which account for 66.1% of the company’s global revenues. Equens’ owner banks have committed to EWC through 2021. Annual revenues for the new Equens Worldline Company will be in the $750 million range.

Atos will continue to own 70% of Worldline after the creation of EWC. The remaining equity in Worldline is traded on the Euronext Stock Exchange. 

EWC will be the largest cardholder account processor in the Eurozone countries with 100 million credit and debit cards under management. Over time, cardholder account processing will migrate to Worldline’s platform. 

EWC processing services will include another 10 billion SEPA-compliant credit transfer and direct debit ACH and other noncard payments handled by Equens last year, which generated revenues of $137 million. That business will continue to operate from a data center currently operated by Equens. 

Before the merger is completed, Worldline will buy Equens’ PaySquare merchant acquiring business for $77 million in cash. PaySquare, which supports 120,000 merchants, will be integrated into the Worldline Merchant Services & Terminals business unit. Over time, transactions from PaySquare merchants will migrate to Worldline’s acquiring platform. PaySquare will increase by 25% the number of merchant transactions currently handled by Worldline to 1.50 billion annually.

Worldline cardholder account and merchant acquiring clients in Europe include BNP Paribas, Societe Generale, Commerzbank, Deutsche Bank, Rabobank, and KBC. The company operates in 17 countries in Europe and Asia. It has $300 million in net cash on its balance sheet and continues to look for opportunities to grow through acquisition. 

Michael Steinbach, CEO at Equens, will be CEO at Equens Worldline in Utrecht, Netherlands, 31 (88) 385-4230,,

Marc-Henri Desportes is General Manager at Worldline in Bezons, France, 33 (1) 3434-8603,,

Prior issues: 1074, 1043, 1038

Copyright © 2015 The Nilson Report