The Payment Giant You've Never Heard Of Is About to Get Bigger

Plus, a tale of two Chimes.

Number of the Week: -3% (explanation below)

The Payment Giant You've Never Heard Of Is About to Get Bigger

There are of course tons of digital payment companies in the world, but there can’t be many that are publicly traded with a market capitalization of more than $4 billion—and headquartered in Allentown, PA, not usually considered a hotbed of fintech innovation. Yet all these things are true about Shift4 Payments, a public company that is poised to grow even larger through a major, just-approved acquisition.

More remarkable is that Shift4 began life in 1999 with a 15-year-old high school dropout CEO, Jared Isaacman, who is still in charge of the company. And while public fintech companies generally had a disastrous 2022, Shift4’s stock remained stable against others in the sector that experienced dips as deep as 90%.