Payments services provider Vantiv becomes the largest U.S. merchant acquirer, beating FirstData for the first time in 20 years.
According to Nilson Report, released this morning, Vantiv increased purchase transactions to 21.2 billion in 2016, up almost 20% from the year prior. FirstData came in second, logging in 19.8 billion transactions.
Three banks were featured on the “leaderboard”: Chase with 16.9 billion, Bank of America with 15.3 billion, and Wells Fargo with 4.6 billion.
More information is available here.