Consequent to its acquisition of payment service provider and card-not-present specialist Litle & Co. at the end of last year, merchant acquirer and processor Vantiv sees ample opportunity to sell e-commerce payment acceptance services to its significant installed merchant base. The observation was communicated by Vantiv CEO Charles Drucker on the firm’s quarterly earnings call May 6th.
“We’re excited about Litle’s tech, data and analytic expertise and its leading position in the fast-growing e-commerce market,” Vantiv CEO Charles Drucker said during the company’s first-quarter earnings call on May 6. “Litle will add to Vantiv’s top line growth rate going forward.”
Many of the largest big box chains nationwide (including Wendy’s, Macy’s, and Walgreens) rely on Vantiv for processing their card-present payments. Several large clients contract with other acquirers to serve their e-commerce channels. The Litle acquisition brings Vantiv into more direct competition with acquirers and processors such as Chase Paymentech, Merchant e-Solutions (a division of Brazil based Cielo), and Wells Fargo. Litle & Co.’s talent has a long history in the card-not-present payment processing world, having been an instrumental part of the original Paymentech platform. Vantiv paid $361 million to acquire Litle & Co. in a deal that closed last December.
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