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Worldline agreed to buy French point-of-sale terminal provider Ingenico for around $8.6 billion in cash and stock.

Why it matters: This is the latest in a wave of payments industry consolidation, particularly among legacy players that feel threatened by a digital-first challengers. Examples from last year include FIS buying Worldpay for $35 billion and Fiserv paying $22 billion for First Data.

Go deeper: Instacart workers organize for higher wages

Worldline buys Ingenico as payments industry consolidation continues

The sale was for around $8.6 billion in cash and stock.

A GIF of a Piggy Bank that has a thought bubble with money signs coming out of it.

Business

E-commerce payment systems

Worldline agreed to buy French point-of-sale terminal provider Ingenico for around $8.6 billion in cash and stock.Why it matters: This is the latest in a wave of payments industry consolidation, particularly among legacy players that feel threatened by a digital-first challengers. Examples from last year include FIS buying Worldpay for $35 billion and Fiserv paying $22 billion for First Data.Go deeper: <a class="gtmContentClick" data-vars-link-text="Instacart workers organize for higher wages" data-vars-click-url="https://www.axios.com/instacart-strike-wages-gig-economy-16b5a6a7-57fa-4b77-b9d8-63f5568c7959.html" data-vars-content-id="a09138e6-4356-442a-ba09-16552c48d74c" data-vars-headline="Worldline buys Ingenico as payments industry consolidation continues" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/instacart-strike-wages-gig-economy-16b5a6a7-57fa-4b77-b9d8-63f5568c7959.html" target="_self">Instacart workers organize for higher wages</a>

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.