Leading financial technology firm Fidelity National Information Services, better known as FIS, is all set to expand its offerings as it buys payments processing firm WorldPay for a whopping $43 billion, which includes the latter’s debt.
As the digital payments industry continues to evolve at a rapid pace, FIS says its acquisition of WorldPay will enable it to stay ahead of the competition and provide its clients with “combined omni-channel payment and multi-currency capabilities,robust risk and fraud solutions and advanced data analytics.”
Furthermore, FIS will have access to WorldPay’s renowned clients, such as Topshop, Clarks, Kobo, not to mention tens of thousands of restaurants and pubs.
“Scale matters in our rapidly changing industry. Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.” – Gary Norcross, Chief Executive Officer, FIS
WorldPay changes owners for the nth time
Formerly known as Streamline under the umbrella of NatWest Bank, WorldPay was acquired by the Royal Bank of Scotland in 2002.
In 2010, RBS sold its controlling stake in WorldPay to private equity firms Advent International and Bain Capital for £2 billion, as a condition of a state bailout, then the bank sold its remaining 20% stake in 2013.
In 2018, credit card processing firm Vantiv acquired WorldPay for $10 billion.
“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives. Combining with FIS helps us accelerate the achievement of that, now benefitting from new scale and capabilities that will truly differentiate the company globally.” – Charles Drucker, Chief Executive Officer, WorldPay
WorldPay provides online payment solutions for eCommerce businesses and financial institutions on a global scale. It processes more than 40 billion transactions a year and supports more than 300 payment methods.
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