While the recent market turmoil has put a pause on potential IPOs, there has been considerable acquisition activity among payments players since the start of the year, and market expansion has been a critical driver for many.

While in the past numerous companies made acquisitions to boost their technological capabilities or even grow headcount, market expansion has been a far more unifying reason among many payments companies who have announced acquisitions since the start of 2025.

From payments gateways to B2B payments players, the primary reason for many acquisitions has been increasing the acquirer’s presence in key markets, and for the majority of non-stablecoin players that has meant growing their presence in a key country or geography.

Payments processor Fiserv, for example, has announced two acquisitions so far this year, both geared towards building out its point of sale (PoS) platform and business solution Clover. March saw it acquire Netherlands-based CCV, which also has a strong presence in Belgium and Germany, while in April it acquired Pinch, allowing it to increase its presence in Australia following the launch of Clover there.

For some, most notably Airwallex, these acquisitions have also included key local licences, with the Australian B2B payments player’s acquisition of CTIN giving it a critical Vietnamese licence. Meanwhile, others boost relationships with key partners, including Shift4’s $2.5bn acquisition of luxury-focused Global Blue, which provides critical connections with the latter’s investors Ant International and Tencent.

However, for stablecoin-focused players, the new markets they are entering are less geographical and more sector-specific. Both Ripple and Circle are making moves into the fast-growing stablecoin investment space, with Ripple’s $1.25bn acquisition of Hidden Road thought to be one of the largest digital asset deals to-date, while Circle’s Hashnote acquisition is allowing it to position its USDC stablecoin as the go-to USD-pegged digital currency for the sector.

How can I identify which markets to prioritise my growth strategies on?

Lucy Ingham

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Lucy is Head of Content & Editor-in-Chief at FXC Intelligence, overseeing all content and taking deep dives into the trends and data driving changes in payments. Before joining FXC Intelligence, Lucy worked as a technology journalist and editor, interviewing CEOs and major names across enterprise technology, including fintech. She has an MSc in Development Anthropology from Durham University.