Payments processing company Paysafe Group has backed a 3 billion pound ($3.9 billion) takeover offer from a consortium of funds managed by Blackstone and CVC Capital Partners, the latest in a string of deals in the sector.

Payments companies have become sought-after targets as more shoppers switch from cash to paying for purchases by smartphones or other mobile devices. U.S. group Vantiv is in talks to buy Britain’s Worldpay for 7.7 billion pounds.

Paysafe offers pre-paid cashcards and online wallets which are popular among online gambling customers, and has recently agreed to buy Merchants’ Choice Payments Solutions for $470 million to strengthen its presence in the United States.

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