Led by $1bn private equity deal with NetSpend, the US payments industry saw a drop of 19.76% in overall deal activity during Q3 2022, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 66 deals worth $1.5bn were announced in Q3 2022, compared with the last four-quarter average of 82.25 deals.

venture financing was the leading category in the quarter with 44 deals which accounted for 66.7% of all deals.

In second place was M&A with 20 deals, followed by private equity with two transactions, respectively accounting for 30.3% and 3.03% of overall deal activity in the US payments industry during the quarter.

In terms of value of deals, private equity was the leading deal category in the US payments industry with total deals worth $1000m, while venture financing and M&A deals totalled $412.42m and $66.2m respectively.

US payments industry deals in Q3 2022: Top deals

The top five payments industry deals accounted for 77.8% of the overall value during Q3 2022.

The combined value of the top five payments deals stood at $1.15bn, against the overall value of $1.5bn recorded for the quarter.

The top five payments industry deals of Q3 2022 tracked by GlobalData were:

1) Rev Worldwide and Searchlight Capital Partners’s $1bn private equity deal with NetSpend

2) The $60m venture financing of Mesh Payments by AlphaWave, Entree Capital, Meron Capital, Tiger Global and TLV Partners

3) Alumni Ventures Group, Companion Fund, Norwest Venture Partners, Struck Capital, SWS Venture Capital and TTV Capital’s $35m venture financing deal with Scratch Financial

4) The $30m venture financing of Central Payment Co by Castle Creek Capital and Launchpad Capital

5) Fiserv’s $26m acquisition deal with The LR2 Group