Fintech transactions of $ 117 billion have been concluded this year as cashless payments grow in popularity

Thomson Reuters

• According to a new Dealogic report, Fintech transactions reached an all-time high this year.
• The explosive volume of mergers and acquisitions arises as more and more people opt for money without money and companies compete for consumer data.
• The total value of the transaction was driven by some monster deals, like Fiserv, which buys First Data, and Global Payments, which buys global system services.
• Visit the Markets Insider homepage for more stories.

It's not just you. The fintech space is really red this year.

The overall volume of mergers and acquisitions targeted by fintech has increased "rapidly" over the last five years and the value of transactions in space has reached a record in 2019, according to Dealogic partner Chisa Tanaka.

Eighty-seven transactions totaled a record $ 116.6 billion since the beginning of the year, a four-fold increase from $ 31.8 billion recorded in the same period last year. last year. In 2018, 89 transactions were concluded.

"It is clear that technological innovation is causing an intensification of consolidation in the market of electronic payment services, while the acquisition of data on the trends in purchasing and customer behavior. further stimulates the acquisition of financial technologies, "Tanaka writes.

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This explosive activity was boosted by three major Fintech deals in the US this year: Worldpay's $ 43.3 billion acquisition of Worldpay by Fidelity National Information Services in March, Fiserv's purchase of First Data in January for 39 , $ 4 billion and the purchase of Total System by Global Payments Services in May.

Dealogic

Experts say that while electronic payment methods are gaining popularity, the world is far from totally cash free. And to be fair, the use of cash varies across countries and regions. The BIS found that ATM withdrawals were stable in advanced economies and rising in emerging markets.

Consumers around the world are increasingly "counting" on electronic payments, the Bank for International Settlements said in a report released last March.

"The use of electronic payments is booming, and technology companies and financial institutions are investing heavily to become tomorrow's payment providers," the BRI economists wrote.

Read more: Business disrupts payments industry in key markets with digital

Although electronic payments have grown in popularity, the BIS has concluded that there is "little evidence of a transfer of cash".

"While the appetite for cash remains unchanged, few companies are close to" no money "or even" less money, "they wrote.

Notably, the United States is the most popular country in the world for fintech transactions, followed by France and the United Kingdom, Tanaka said.

"The second half of 2019 will likely bring market consolidation to strengthen the retention of customer data and clarify the financial capacity of the various players," she wrote.

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