Worldpay From FIS Opens New Growth Opportunities with United Arab Emirates Expansion
April 26 2023 - 3:00AM
Business Wire
Key facts
- Worldpay from FIS continues to drive global e-commerce with new
domestic acquiring capability in the UAE.
- Expansion is part of business’ plans to expand its merchant
acquiring presence in key markets.
Continuing to build its footprint as a leading global acquirer,
global financial technology leader FIS® (NYSE: FIS) has announced
today its Worldpay merchant business will be expanding its payment
processing capabilities into the United Arab Emirates (UAE) this
year.
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Worldpay has secured a category II payment services license that
allows for card acquiring and disbursements. This new domestic
license in the UAE will enable the company to offer its world-class
payment services to both local companies with global ambitions, and
rapidly growing enterprises looking to expand in the market. This
comes on the back of its successful expansion into South Korea in
2022.
Our newest version of The Global Payments Report shows the
e-commerce market in the UAE is projected to reach US$43 billion by
2026, with credit cards driving this growth, accounting for 41% of
e-commerce transaction value in 2022. This makes it even more
important for merchants to select the right payment partner for
their business.
“The UAE presents new growth opportunities for global businesses
and it’s an exciting time to be entering the market,” said Gabriel
de Montessus, Head of Global Enterprise Merchant Solutions, FIS.
“Our new domestic acquiring capability in the UAE will ensure
seamless integration into the country for global merchants, while
local businesses will benefit from our leading geographic
footprint, enabling them to expand globally. Our expertise in
payments helps us understand how local consumers prefer to pay, as
well as the trends that merchants need to get ahead of to optimize
their performance as they enter new markets and accelerate global
commerce.”
Merchants doing business in the UAE will be able to take
advantage of Worldpay’s advanced acquiring capabilities, which will
be able to connect them to authorization, clearing and payments
settlement, dispute management software 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.
Supporting this new market is a proof point of Worldpay’s growth
strategy to enhance its merchant acquiring presence in additional
markets and expand its global capability.
About FIS
FIS is a leading provider of technology solutions for financial
institutions and businesses of all sizes and across any industry
globally. We enable the movement of commerce by unlocking the
financial technology that powers the world’s economy. Our employees
are dedicated to advancing the way the world pays, banks and
invests through our trusted innovation, system performance and
flexible architecture. 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 member of the Fortune 500® and the
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/20230426005030/en/
Kim Snider, 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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