Tuck-in deals like PayPal's (PYPL - Get Report) $230M purchase of Tio Networks are common in payment technology. However, Pacific Crest says Global Payments' (GPN - Get Report) $4.7B buyout of Heartland (HPY) could trigger a consolidation wave. Vantiv (VNTV) could pursue Worldpay, Global Payments or even Adyen. Global Payments could merge with Total Systems Services and Total Systems Services and Worldpay could also combine.

This article was written by a staff member of TheStreet.