Worldline Q3 2026 revenue: North Star 2030 execution delivering tangible progress across all businesses
Merchant Services growth contrasted with a Financial Services decline, while full-year free cash flow is still expected to be negative.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Worldline (WRDLY) reported third-quarter 2026 revenue of €945.5 million on a fully pruned basis and confirmed its full-year outlook. Organic revenue grew 2.5% year over year on this basis, which excludes divested businesses. Published revenue was €966.6 million, up 2.0% organically.
Merchant Services revenue rose 4.0% organically to €759.2 million, while Financial Services fell 3.3% to €186.3 million. Group revenue excluding schemes’ and partners’ fees declined 1.0% organically. Customer satisfaction improved, bookings increased across three businesses, and the Ogone SMB migration to GoPay reached 98% completion. The final two pruning transactions closed during the quarter.
Worldline maintained its 2026 targets for flat to marginally positive organic revenue growth, adjusted EBITDA of €630 million–€650 million and free cash flow of negative €60 million–negative €40 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointFully pruned Q3 revenue increased 2.5% organically year over year to €945.5 million.
- Moderate pointMerchant Sales Value grew 3.4% year over year in Q3.
- Moderate pointSBB awarded Worldline a 10-year contract for payment acceptance and acquiring services.
- Moderate pointAustralia divestment completed July 31, 2026, selling the 51% stake to ANZ with transitional technology services continuing.
- Moderate pointIndian payment activities divestment completed August 3, 2026, alongside a long-term technology and software agreement with BillDesk.
16 minor points
- Minor pointPublished Q3 revenue increased 2.0% organically year over year to €966.6 million.
- Minor pointMerchant Services Q3 revenue rose 4.0% organically to €759.2 million; revenue excluding schemes’ and partners’ fees was flat.
- Minor pointSMB revenue delivered low-single-digit growth, with Switzerland stabilising and churn declining.
- Minor pointEnterprise revenue delivered high-single-digit growth in Q3.
- Minor pointMobility and Self-Service Q3 revenue grew c. 10% year over year; orders rose 15% year-to-date.
- Minor pointGlobal Commerce returned to low-single-digit growth, with Travel growing double-digit and Digital returning to growth.
- Minor pointGlobal Collect achieved 10%+ growth, offsetting anticipated churn and de-risking in the acquiring-only portfolio.
- Minor pointYear-to-date bookings increased 91% in Financial Services, 20% in Global Commerce and 4% in Enterprise.
- Minor pointCustomer satisfaction score reached 40, up 10 points versus 2025, alongside lower churn.
- Minor pointOgone SMB migration to GoPay reached 98% completion; platform migrations enabled four platform closures year-to-date.
- Minor point. Forward-looking: it has not happened yet and may not happen.Western European headcount fell c. 4% year-to-date, with a confirmed year-end target of 500 fewer full-time-equivalent employees.
- Minor pointMasoutis partnership expanded to Kritikos, covering acquiring, payment acceptance, instalment payments and in-store loyalty.
- Minor pointFinancial Services secured its first new customer for its new cloud-based acquiring product.
- Minor pointGlobal Collect expanded into Latin America through a launch with a local acquirer.
- Minor point. Forward-looking: it has not happened yet and may not happen.Worldline confirmed flat to marginally positive organic revenue growth for 2026 on a fully pruned basis.
- Minor point. Forward-looking: it has not happened yet and may not happen.Worldline confirmed 2026 adjusted EBITDA guidance of €630 million–€650 million.
Negative
- Moderate pointGroup Q3 revenue excluding schemes’ and partners’ fees fell 1.0% organically to €700.7 million on a fully pruned basis.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Worldline confirmed expected 2026 negative free cash flow of €60 million–€40 million.
- Minor pointFinancial Services Q3 revenue declined 3.3% organically to €186.3 million, or 5.1% excluding positive non-recurring revenue.
- Minor pointFinancial Services revenue excluding schemes’ and partners’ fees declined 3.8% organically to €183.6 million.
- Minor pointLegacy contract terminations continued to reduce Financial Services revenue, including in Issuing.
2 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Enterprise retail benefited from later-than-expected churn; Worldline expects normalisation in Q4 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.The 2026 revenue outlook incorporates churn normalisation in Enterprise and the Nordics and no positive non-recurring Financial Services revenue.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Worldline Q3 2026 revenue: North Star 2030 execution delivering tangible progress across all businesses
Confirmed 2026 outlook
Q3 2026 revenue in line with expectations
€946M External revenue (+2.5% y/y organic growth) on a fully pruned basis1- Merchant Services1: +
4.0% y/y organic growth with net-net revenue flat for the first time since Q2 2024 - Financial Services: -
3.3% y/y organic
Continued operational progress, execution of North Star 2030 and innovation drive
- NPS3 improving to 40 (+10 pts vs 2025) and reduction in churn
- Strong year-to-date bookings momentum across Financial Services (+
91% ), Global Commerce (+20% ) and Enterprise (+4% ) - Platform convergence progressing according to plan, with Ogone SMB to GoPay migration at
98% complete. Italy progress on track. Western European headcount down c.4% year-to-date - Innovation milestones achieved in various areas of the company: Availability of Universal Commerce Protocol to e-commerce merchants, successful roll out of MiniPOS Cube in our core SMB markets based on Worldline’s proprietary Tap on Mobile solution
Confirmed outlook for 2026
On a fully pruned basis,
- Revenue flat to marginally positive 2026 confirmed
- Adj. EBITDA outlook of
€630M to€650M confirmed - Free cash flow of
€(60)M –€(40)M confirmed
Paris, La Défense, October 27 2026 – Worldline [Euronext: WLN], a European leader in payment services, today announces its revenue for the third quarter of 2026.
Pierre-Antoine Vacheron, CEO of Worldline, said: “Q3 confirms the continued progress in Worldline’s operating trajectory. We are executing with discipline our strategy across our markets, reflected in sustained improvements in customer satisfaction, further churn reduction, and commercial momentum. Merchant Services delivered solid growth across most geographies and verticals, while the recovery in Financial Services continues to build. With a strengthened balance sheet, sustained innovation and the North Star 2030 transformation advancing according to plan, we remain on track to deliver our 2026 outlook.”
Q3 2026 revenue by Global Business Line
| Revenue (fully pruned) | ||||
| in euros million | Q3 2026 | Q3 2025* | Organic growth | Organic growth (NNR) |
| Merchant Services | 759 | 730 | 4, | 0, |
| Financial Services | 186 | 193 | -3, | -3, |
| Worldline | 946 | 922 | 2, | -1, |
* at constant fully pruned scope and exchange rate
On a fully pruned basis, Q3 2026 revenue reached
By division, on a fully pruned basis:
Merchant Services
In Q3 2026, Merchant Services’ revenue reached
The performance by market was as follows:
- SMB: Low-single-digit growth, with continued strong momentum in Greece, Italy, the Nordics, CEE and Germany. Switzerland stabilised with lower churn and successful launch of a cost-effective solution for micro-merchants. The Benelux turnaround plan has been fully activated and NPS is improving across all geographies;
- Enterprise: High single-digit growth, with continued momentum in Mobility and Self-Service, supported by geographic expansion. Retail delivered growth, driven by improved customer satisfaction, ramp up of signings of the previous quarters and later than expected churn materialisation with normalization expected in Q4’26. Enterprise pipeline continues to build, as per plan, in a competitive environment. Mobility and Self-Service (MSS) continued to deliver strong growth, leveraging Worldline’s deep vertical expertise across transportation, parking, vending, EV charging and fuel retail. MSS delivered c.
10% year-on-year revenue growth in Q3, with orders up15% year-to-date, supported by successful launches in the UK and Ireland, strong traction in Italy and wins with three of the top ten European EV charging operators; - Global Commerce: Returned to low-single-digit growth. The Travel vertical growing double-digit, and the Digital vertical returned to growth, all driven by wallet-share gains on strategic customers. Within Global Commerce, Global Collect witnessed
10% + growth, offsetting the impact of anticipated churn and de-risking in the acquiring-only portfolio.
This accelerated momentum at Global Collect is supported by measurable improvements in authorisation rates and customer satisfaction linked to finalised platform modernisation. The business is now expanding its geographic reach through its launch in Latin America with a leading local acquirer, while continuing to develop additional levers to enhance profitability over time.
Financial Services
Q3 2026 revenue reached
The performance by segment was the following:
- Issuing: Revenue decline reflects previously announced contract terminations. This impact was partly mitigated by improving transaction volumes in the Benelux;
- Acquiring: Recorded increased activity across several markets, notably in Belgium. Worldline continued to expand product penetration with existing customers while the division secured its first new customer for the new cloud-based acquiring product;
- Account & Instant Payments: Good performance in payments connectivity and messaging infrastructure. Existing customers show solid volume levels and a steady flow of fertilisation;
- Digital Services & Fraud: Revenue growth fueled by increased activity in fraud detection services, wallet transactions, trusted authentication and Access Control Server. The unit had good presales activity around Digital Euro, FIDO and Digital Identity.
Further progress in the North Star 2030 transformation plan
One year after the presentation to investors, North Star 2030 has moved from plan to execution, across performance, operations and innovation:
- Operational performance is improving, with higher NPS, lower churn, strong infrastructure availability and increasing bookings across Financial Services, Global Commerce and Enterprise;
- Platform convergence is progressing according to plan, including merchant migrations in Italy and the migration of
98% of the Ogone SMB portfolio to GoPay, while migrations to target authorization and acceptance platforms enabled to close 4 platforms since the beginning of the year; - Structural simplification is translating into a leaner organisation, with Western European headcount down
4% year-to-date, with a confirmed target of 500 fewer FTEs at the end of the year.
Continued product innovation in Q3 2026
Worldline launched its Universal Commerce Protocol payment handler, enabling AI-initiated purchases through Global Collect; continued the rollout of its One Commerce omnichannel proposition in Europe; expanded Wero acceptance to Luxembourg; and launched MiniPOS Cube in Belgium and Switzerland, extending its payment offering for micro and small merchants.
In Belgium and Switzerland, Worldline launched the MiniPOS Cube, which is a standalone Android-based payment device powered by Worldline’s Tap on Mobile solution. It provides an easy and cost-effective entry point into cashless payments and does not require a separate smartphone or tablet.
In Financial Services, the Stablecoin Hub was presented at Sibos which has driven some pre-sales activities.
Gaining traction through flagship customer wins and strategic partnerships
Worldline secured a 10-year contract with SBB, the Swiss national railway operator, to provide payment acceptance and acquiring services. Worldline was the sole provider to fully meet SBB’s advanced technical requirements, highlighting the strength of the Group’s technology and payments expertise in complex mobility environments.
In Greece, Worldline extended its partnership with Masoutis to include Kritikos, a major supermarket chain recently acquired by Masoutis. The solution encompasses acquiring, payment acceptance, Buy Now Pay Later (BNPL) and in-store loyalty services. This win further strengthens Worldline’s already well-established presence in the Greek retail sector.
Pruning program now completed
As expected, Worldline completed the final two transactions of its pruning program in Q3.
On July 31, 2026, Worldline completed the divestment of its
On August 3, 2026, Worldline completed the divestment of its Indian payment activities to BillDesk, a leading Indian payments provider. In parallel, Worldline entered into a long-term technology and software agreement under which BillDesk will continue to leverage Worldline’s advanced payment software.
2026 Outlook confirmed on a fully pruned basis
- Revenue: flat to marginally positive organic growth reflecting the normalization of churn in Enterprise and the Nordics, with no positive non-recurring revenue in Financial Services
- Adj. EBITDA outlook of
€630M to€650M confirmed, supported by strong cost discipline and continued North Star execution - Free cash flow of
€(60)M –€(40)M confirmed
Appendices
RECONCILIATION OF Q3 2025 STATUTORY REVENUE WITH Q3 2025 REVENUE AT FULLY PRUNED SCOPE AND CONSTANT EXCHANGE RATES
For the analysis of the Group’s performance, revenue for Q3 2025 is compared to Q3 2025 revenue at fully pruned scope and constant exchange rates as presented below per Global Business Lines:
| Revenue (fully pruned) | ||||
| in euros million | Q3 2025 | Scope effects** | FX effects | Q3 2025* |
| Merchant Services | 862,3 | -131,0 | -1,4 | 729,9 |
| Financial Services | 201,1 | -9,6 | +1,1 | 192,6 |
| Mobility & e-Transactional Services | 85,5 | -85,5 | +0,0 | 0,0 |
| Worldline | 1 148,8 | -226,1 | -0,3 | 922,5 |
| * Fully pruned scope and September 2026 average exchange rates | ||||
| ** At 2025 average exchange rate | ||||
Q3 2025 figures have been restated to reflect the fully pruned scope and YTD September 2026 exchange rates. Accordingly, the Q3 2025 fully pruned scope presented in the table above excludes MeTS, Worldline North America, PaymentIQ, Cetrel, Worldline New Zealand, Worldline Merchant Services India and JV ANZ Worldline for the entire period.
RECONCILIATION OF Q3 2025 STATUTORY REVENUE WITH Q3 2025 REVENUE AT CONSTANT SCOPE AND EXCHANGE RATES
For the analysis of the Group’s performance, Q3 2025 revenue is compared to Q3 2025 at constant scope and exchange rates as presented below per Global Business Lines:
| Revenue | ||||
| in euros million | Q3 2025 | Scope effects** | FX effects | Q3 2025* |
| Merchant Services | 862,3 | -107,7 | +0,8 | 755,4 |
| Financial Services | 201,1 | -9,6 | +1,1 | 192,6 |
| Mobility & e-Transactional Services | 85,5 | -85,5 | +0,0 | 0,0 |
| Worldline | 1 148,8 | -202,8 | +2,0 | 948,0 |
| * At constant scope and September 2026 average exchange rates | ||||
| ** At 2025 average exchange rate | ||||
Q3 figures have been restated to reflect changes in scope and YTD September 2026 exchange rates. Accordingly, the Q3 2025 scope presented in the table above excludes MeTS, Worldline North America, PaymentIQ, Cetrel and Worldline New Zealand for the entire period, as well as Worldline Merchant Services India and the JV ANZ Worldline from August 2025 onwards.
RECONCILIATION OF Q3 2026 STATUTORY REVENUE WITH FULLY PRUNED Q3 2026 REVENUE.
For the analysis of the Group's performance, revenue for Q3 2026 is compared to Q3 2026 revenue at fully pruned scope (ie. excluding MeTS, Worldline North America, PaymentIQ, Cetrel, Worldline New Zealand, Worldline Merchant Services India and JV ANZ Worldline).
Reconciliation between the Q3 2026 published revenue and the fully pruned Q3 2026 revenue is presented below by Global Business Lines:
| Revenue | ||||
| in euros million | Q3 2026 Published | Scope effects | FX effects | Q3 2026 Fully pruned |
| Merchant Services | 780,3 | -21,1 | 759,2 | |
| Financial Services | 186,3 | +0,0 | 186,3 | |
| Worldline | 966,6 | -21,1 | +0,0 | 945,5 |
REVENUE TO NET NET REVENUE
Net Net Revenue information excluding schemes’ and partners’ fees, showing growth and margin levels from an NNR perspective to enable better comparison with peers.
| Revenue (fully pruned) | ||||||||||
| in euros million | Q3 2026 | Schemes & Partners fees | Q3 2026 Net Net | Q3 2025* | Schemes & Partners fees | Q3 2025 Net Net | OG% Q3 | OG% Q3 Net Net | ||
| Merchant Services | 759,2 | -242,1 | 517,1 | 729,9 | -212,9 | 516,9 | 4, | 0, | ||
| Financial Services | 186,3 | -2,7 | 183,6 | 192,6 | -1,7 | 190,9 | -3, | -3, | ||
| Worldline | 945,5 | -244,8 | 700,7 | 922,5 | -214,7 | 707,8 | 2, | -1, | ||
| * Fully pruned scope and September 2026 average exchange rates | ||||||||||
| Revenue | ||||||||||
| in euros million | Q3 2026 | Schemes & Partners fees | Q3 2026 Net Net | Q3 2025* | Schemes & Partners fees | Q3 2025 Net Net | OG% Q3 | OG% Q3 Net Net | ||
| Merchant Services | 780,3 | -251,4 | 528,9 | 755,4 | -226,3 | 529,1 | 3, | 0, | ||
| Financial Services | 186,3 | -2,7 | 183,6 | 192,6 | -1,7 | 190,9 | -3, | -3, | ||
| Worldline | 966,6 | -254,1 | 712,5 | 948,0 | -228,0 | 720,0 | 2, | -1, | ||
| * At constant scope and September 2026 average exchange rates | ||||||||||
Schemes & Partners fees = scheme fees + kickbacks PM03 + full buy-rate
UPCOMING EVENT
- February 24, 2027 : FY 2026 results
CONTACTS
Investor relations
Cesar Zeitouni
E cesar.zeitouni@worldline.com
Antoine Saint-Etienne
E antoine.saintetienne@worldline.com
Communication
Virginie Bonnet
E virginie.bonnet@worldline.com
Antoine Denry / Wandrille Clermontel
E teamworldline@taddeo.fr
ABOUT WORLDLINE
Worldline [Euronext: WLN] is Europe's leading operator of critical infrastructure and payment services. With a presence across the entire value chain, the group offers its customers unique expertise in processing and securing their payments, thereby promoting their growth. Worldline is leveraging its 2030 strategic plan and its technological innovation capabilities to build the European reference payment partner for merchants and financial institutions. With over 1.2 million customers, Worldline achieved
Worldline’s corporate purpose (“raison d’être”) is to design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. Worldline makes them environmentally friendly, widely accessible, and supports social transformation.
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DISCLAIMER
This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group's expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviours. Any forward-looking statements made in this document are statements about Worldline’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Worldline’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2025 Universal Registration Document filed with the French Autorité des marchés financiers (AMF) on March 6, 2026, under the filling number: D.26-0071.
Revenue organic growth and Adjusted EBITDA improvement are presented at constant scope and exchange rate. Adjusted EBITDA is presented as defined in the 2025 Universal Registration Document. All amounts are presented in € million with one decimal. This may in certain circumstances lead to non-material differences between the sum of the figures and the subtotals that appear in the tables. 2026 objectives are expressed at constant exchange rates according to Group’s accounting standards. Following the finalisation of Worldline pruning program, the outlook for 2026 and 2030 is presented in post pruning scope excluding Mets, Worldline North America, Cetrel, PaymentIQ, MS India, Worldline New Zealand and Worldline Australia.
Worldline does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.
This document does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States of America, its territories and possessions, any State of the United States of America and the District of Columbia (the “United States”). Securities may not be offered, subscribed or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Worldline have not been and will not be registered under the U.S. Securities Act. Worldline does not intend to register any portion of the offering of its securities in the United States or to conduct a public offering of its securities in the United States.
Attachment
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Which businesses are excluded from Worldline's fully pruned revenue?
The fully pruned scope excludes MeTS, Worldline North America, PaymentIQ, Cetrel, Worldline New Zealand, Worldline Merchant Services India and JV ANZ Worldline. The Q3 2025 comparison excludes these businesses for the entire period and uses constant exchange rates.