The UK Competition and Markets Authority (CMA) has confirmed that it is assessing the anticipated acquisition of Worldpay Holdco LLC by Global Payments PLC under the merger control provisions of the Enterprise Act 2002.
In a notice published pursuant to sections 96(2A) and 107(1)(i) of the Act, the CMA stated that the merger notice submitted jointly by Global Payments and Worldpay meets the statutory requirements for review. As a result, the initial review period will begin on 17 September 2025. The CMA must decide by 11 November 2025 whether the transaction should be referred for a more detailed Phase 2 investigation.
Invitation to Comment
On 1 July 2025, the CMA issued a preliminary invitation to comment, allowing interested parties to provide initial views on the potential competitive impact of the deal. This step forms part of the authority’s information-gathering process ahead of launching any formal investigation.
The CMA noted that it is considering whether the transaction could create a “relevant merger situation” under the Act, and if so, whether it may lead to a substantial lessening of competition in any UK markets for goods or services. Stakeholders were invited to submit written representations by the stated deadline.
Industry Context and Competitive Dynamics
According to analysis from Antitrust Intelligence, other global payment providers with strong European operations—such as Stripe, PayPal, Block, Checkout.com, and Klarna—may be cited by the merging parties as evidence of a competitive market landscape, particularly in ecommerce and cross-border acquiring. The firms may also argue that the transaction would deliver efficiencies for customers, including expanded global reach, integrated service offerings, and improved data-driven insights at scale.
However, Antitrust Intelligence notes that while such efficiencies could be highlighted during the regulatory review, they are unlikely to fully counterbalance the competition concerns raised by the deal. At most, they may support the case for behavioral or structural remedies rather than unconditional clearance.
Next Steps
The CMA will now assess whether the merger gives rise to competition concerns that merit a Phase 2 investigation. Should the transaction proceed to Phase 2, a more detailed inquiry would be launched, including the collection of evidence from the parties, customers, and competitors.
Global Payments and Worldpay are both major providers of payment processing services. If completed, the merger would represent a significant consolidation in the UK and global payments sector.