Through its Worldpay processing platform, FIS will provide domestic payment processing in Nigeria and South Africa through a partnership with payments technology company Flutterwave.
Also the company announced that its Worldpay processing platform has been granted a domestic acquiring license in Malaysia.
FIS handles billions of transactions annually through its Worldpay product line, which spans 146 countries and more than 300 payment forms in 126 currencies.
However, FIS plans to expand its merchant acquiring footprint in new markets as part of its growth strategy, allowing the company to provide payment services to local businesses with global ambitions.
This move, according to Jim Johnson, FIS’s head of merchant solutions, comes at a time of COVID-fueled economic growth and digital adoption. In a news release, he said, “Emerging markets across Southeast Asia and Africa offer fresh opportunities for global businesses.” “A new wave of creative, high-growth regional brands are looking to extend their presence in these new markets. FIS’s mission is to be a true partner to these businesses, ensuring their success everywhere they go in the world.”
“We recognize that payments are personal, and merchants must have a local understanding of customer behavior to succeed,” Johnson added.
Worldpay’s advanced acquiring capabilities, which include authorization, clearing and settlement, dispute management, and data insights, will be available to merchants doing business in these countries.
Merchants will also benefit from a streamlined payment experience thanks to a single point of integration, which will help them increase adoption, boost customer satisfaction, and minimize fraud.
FIS’ acquiring and payment processing capabilities in these countries are complemented by an increasing network of regional payments consultants who give merchants in-country expertise and help them tailor their payment offerings to the local market.
Read More on Tech Gist Africa:
Flutterwave has teamed up with Forter to combat merchant fraud in African markets
Flutterwave raises $170 Million in a series C round of funding.