2019 saw three of the biggest combinations in the history of the electronic payment business. The deals closed months ago. What happens now? Gotten over merger shock yet? Well, fasten your seat belt. The effects from last year's trio of mega-combinations are likely to ripple through the payments industry for some time to come, reshaping business relationships, shifting market share, spurring innovation, and—at least for a while—spawning confusion and dysfunction. In short, prepare for fundamental change in an industry already roiled by a decade's worth of revolutionary technological overhaul. "There's going to be a new normal," predicts O.B. Rawls, chief executive of global payment processing for processor Paysafe Group. And, to top it off, the mega-merger wave hasn't exhausted itself. In February, two French behemoths, Worldline S.A. and Ingenico Group S.A., agreed to combine in a deal valued at $8.6 billion.