FIS Opens New Growth Opportunities for Global Brands with Worldpay Domestic Acquiring Expansion into South Africa, Nigeria & ...
April 21 2021 - 8:00AM
Business Wire
Key facts
- FIS continues to drive global eCommerce with domestic acquiring
capabilities in high-growth regions of Southeast Asia and
Africa.
- Through its Worldpay product portfolio, FIS will bring new
payment options to merchants and eCommerce providers across these
new regions.
- Expansion is part of company’s plans to enhance its merchant
acquiring presence in additional markets.
Continuing to build its footprint as a leading global acquirer,
financial technology leader FIS® (NYSE: FIS) announced today that
it is expanding its payment processing capabilities into the
rapidly growing markets of Malaysia, South Africa and Nigeria.
FIS has secured a domestic acquiring license in Malaysia to
provide its Worldpay payment processing platform. In South Africa
and Nigeria, FIS is offering domestic payment processing services
through its previously announced agreement with payments technology
company Flutterwave, a 2016 graduate of the FIS Accelerator
program.
Through its Worldpay product portfolio, FIS processes billions
of transactions annually across 146 countries and more than 300
payments types in 126 currencies. As part of its growth strategy,
FIS aims to enhance its merchant acquiring presence in additional
markets—enabling the company to offer its world-class payment
services to local companies with global ambitions as well as
rapidly growing enterprises looking to expand in these regions.
“The COVID-19 pandemic has accelerated the adoption of digital
technology and fueled the growth of eCommerce around the world,”
said Jim Johnson, Head of Merchant Solutions at FIS. “Emerging
markets across Southeast Asia and Africa present fresh
opportunities for global businesses. These new markets are also
home to a new generation of ambitious high-growth regional brands
looking to expand their footprint. Our goal at FIS is to be a true
partner to these enterprises, passporting them to success wherever
in world they want to be.”
The recently published 2021 Global Payments Report by Worldpay
from FIS projected that Malaysia’s eCommerce market will increase
71 percent by 2024, driven by mobile shopping. Over the same period
in Nigeria, online commerce via mobile devices is projected to more
than double. In South Africa, the eCommerce industry is projected
to be worth $9 billion by 2024 with mobile accounting for a third
of the spend.
Merchants doing business in these countries will be able to take
advantage of Worldpay’s advanced acquiring capabilities which
includes authorization, clearing and settlement, dispute management
and data insights. Merchants will also benefit from a seamless
payments experience through a single point of integration—helping
to increase acceptance, improve customer experience, and reduce
fraud.
FIS complements its acquiring and payment processing
capabilities in these countries with a growing network of regional
payments consultants that provide merchants with in-country
expertise, helping them tailor their payments offerings to the
local audience. In addition to Africa and Malaysia, FIS has
recently added new consultants in Germany, Iberia, the Nordics, and
other European locations.
“We understand that payments are personal, and merchants need
local understanding of consumer behavior to ensure success,”
Johnson said. “That’s why we continue to invest in deepening our
global capabilities to support the growth of our merchants and fuel
smarter commerce across the world.”
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our employees are
dedicated to advancing the way the world pays, banks and invests by
applying our scale, deep expertise and data-driven insights. We
help our clients use technology in innovative ways to solve
business-critical challenges and deliver superior experiences for
their customers. Headquartered in Jacksonville, Florida, FIS is a
Fortune 500® company and is a member of Standard & Poor’s 500®
Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
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version on businesswire.com: https://www.businesswire.com/news/home/20210421005075/en/
Kim Snider, 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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