Shift4 Payments Thesis

Shift4 provides integrated payment processing and technology solutions. Its moat is its end-to-end payment platform that serves complex, high-volume merchants in verticals like hospitality and restaurants. The growth driver is the expansion into new verticals and geographies, as well as cross-selling value-added services like SkyTab POS solutions. The investment thesis is that Shift4's specialized, vertically-integrated approach can win against more horizontal competitors.