According to an internal memo seen by Bloomberg, Isaacman said that the firm had received multiple offers from potential suitors but that none properly valued the business of its potential.

Publicly-listed Shift4, which has a market valuation of around $7 billion, has been running a sales process over recent months.

In November, Isaacman told shareholders the company was exploring “strategic opportunities and alternatives”, with Global Payments seen as an early front runner.

Earlier this month, Reuters reported that Fiserv and Amadeus had emerged as the main contenders.

Shift4, processes over $200 billion worth of annual transactions for more than 200,000 merchants, including restaurants and hotels.