Financial Technology Leader FIS® (NYSE: FIS) today announced that it is revolutionizing the way small and medium-sized enterprises (SMBs) access integrated payment and finance solutions through software providers with the launch of Worldpay for Platforms™.
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This new software-as-a-service (SaaS) solution combines the power of FIS’ global commerce and banking capabilities with integrated payment technology based on the platform brought to the company through its Payrix™ acquisition.
With Worldpay for Platforms, ISVs can now onboard merchants and quickly configure them to access the payment capabilities of one of the world’s largest payment processors in Worldpay by FIS.®.1
“In today’s digitally driven, on-demand economy, software vendors need to deliver broader experiences to their users. These merchants rely on technology providers to power their business-critical commerce and business management solutions,” said Matt Downs, Platforms Group President, FIS. “Early adopters of in-app payments include ridesharing and delivery companies that made it easy for customers to pay for their rides; and for drivers to access banking services through a single app experience. We propel similar experiences to a larger market.
“Now these companies are taking the benefits of integrated payments and finance even further and are beginning to offer flexible point-of-sale financing,” Downs continued. “With Worldpay for Platforms and the power of FIS’ global merchant and banking offerings, we digitally enable software companies to create unique experiences for their users and consumers.”
With Worldpay for Platforms, SMBs of all types will now be able to accept hundreds of currencies and popular payment methods worldwide, through online, mobile and point-of-sale transactions, as well as manage subscriptions, billing and the bills. SMBs can also easily send funds and issue refunds, manage chargebacks, create customizable reports, and get the tailored support they need to run their business and better compete against larger competitors.
In addition, the platform provides access to personalized payment offers and tiered pricing, as well as customer support and “white glove” consulting services for software vendors. This allows these companies to harness the benefits of being full payment facilitators without the heavy burden of infrastructure.
Worldpay for Platforms addresses an important need from software companies that are focused on serving their users with various fintech tools, while removing many of the middlemen that come with having multiple software and payment providers. For example, the solution can help eliminate the need for SMBs to pay separate partners to help with card issuance, cash advances, or faster access to cash flow. Along with solutions from the new API-driven Developer Portal, SMBs have access to the tool to help them with everything they need for long-term success through their software vendor.
“Merchants have embraced integrated payment systems because they prefer to run their business rather than managing a portfolio of service providers. At the same time, commerce platforms and marketplaces have seized the opportunity that value-added financial and payment services can offer them and their merchants. By leveraging the wide range of financial services products offered by FIS, Worldpay for Platforms should be well positioned to serve the market,” said Aaron Press, Research Director, Worldwide Payment Strategies, IDC Insights.
To learn more about Worldpay for Platforms, visit https://www.fisglobal.com/worldpayplatforms.
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and in all industries globally. We enable the movement of commerce by unleashing the financial technology that powers the global economy. Our people are dedicated to advancing the way the world pays, banks and invests through our proven innovation, system performance and flexible architecture. We help our customers use technology in innovative ways to solve critical business challenges and deliver superior experiences to their customers. Based 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).
1 Nilson Report, Issue 1206, October 21