Anand Goel was quoted in this article on Forbes.com by Yizhu Wang and Christopher Kane on the benefits of consolidation for PIN-Based payment companies.
There’s money —a lot of money — to be made helping people spend theirs, from signing on a check and swiping a card to tapping your phone on a point-of-sale terminal. The billion-dollar companies that make technology to make payments go are the targets of game-changing mega-mergers, as innovation in the industry advances at a rapid clip.
PIN-debit networks were once an innovation of electronic payments that freed people from the burden of having to carry cash. However, smaller networks are now hobbled by strong competition from incumbents and the next generation of disruptors. M&A could help them better compete with market leaders Visa and Mastercard.