SAN FRANCISCO, Nov. 10, 2015 /PRNewswire-USNewswire/ -- The Electronic Transactions Association (ETA), the global trade association representing the payments technology world, hosted TRANSACT Tech today in the hub of technology, San Francisco. Sponsored by PayPal and Discover, TRANSACT Tech brought leading innovators in Fintech, P2P, cloud, mobile, authentication, and security together to learn about investment opportunities and industry trends. The event was keynoted by Brain Crist, chief payments counsel for Uber.
"Venture-backed startups are disrupting the payments industry and reshaping the face of commerce," said Jason Oxman, ETA's CEO. "With Bay Area Venture Capitalists investing billions of dollars in fast-growth companies, payments is already the most exciting tech industry in America."
ETA and The Strawhecker Group revealed the latest research on the future of FinTech at TRANSACT Tech. The report shows the payments industry is a lucrative growth sector for startups and established industries alike because it embraces innovation and companies are eager to form partnerships to fill gaps or gain a competitive edge in the marketplace. ETA Members can access the report here.
Globally, the report found that nearly 800 payments mergers and acquisitions occurred between September 2014 and September 2015, netting an average price of about $90 million per deal. Half of those deals were in the U.S. market. Top company categories include crypto currency, mobile payments and card processors.
"Investment in payments is not only bringing new technologies to market, it is also advancing the existing payments landscape," said Oxman. "The most cutting-edge payments companies are finding new and creative ways to specialize in specific technologies."
Next generation technologies were also the focus at TRANSACT Tech: everything from the next industry frontier – person-to-person (P2P) payments – to Poynt's "future-proofed" terminals that support all modern payment technologies, to Socure's Perceive "pay with your selfie" solution.
TRANSACT Tech's Startup Investor Roundtable shed light on how investment decisions change our industry and offered insight into successfully navigating the fast-changing payments technology landscape. Moderated by Denny Boyle, Managing Director of Silicon Valley Bank and featuring Brian Ascher of Venrock, Ben Malka of Devonshire Investors, Karl Mehta of EdCast Inc., and Commerce VC's Dan Rosen, the Roundtable presented actionable know-how for attendees seeking to acquire or be acquired.