Cincinnati-based Vantiv, the third largest merchant acquirer in the United States, last week announced it acquired Internet payment service provider and payment processor Litle & Company. Litle is a leading provider of payment acceptance solutions for merchant in card-not-present transaction environments. The company was founded by Tim Litle, who was instrumental in building acquirer processing platforms in the early days of electronic payments. Vantiv has had a number of recent acquisitions on the merchant acquiring side of its business, including the purchase of one of America’s largest ISOs (National Processing Company) in 2010.
From Finextra:
“eCommerce is one of the fastest growing segments of payments,” said Charles Drucker, President and CEO at Vantiv. “As our clients continue to expand their online presence to meet their consumers’ demands, they rely on us to meet their payments needs through our integrated processing platform. The acquisition of Litle & Co. will enable us to offer leading, integrated products in high growth markets, allowing our clients to engage with their customers across multiple channels, with better visibility and increased simplicity. Litle & Co. has built a premier eCommerce product in the market, which is supported by an extremely talented leadership team. The combination of our two companies will create differentiation in our product offerings and enable us to rapidly capitalize on market opportunities. We are very excited to work with the Litle team.”
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