Worldpay from FIS Expands Operations in Argentina with Domestic Acquiring Capability
October 20 2020 - 8:00AM
Business Wire
Key facts
- With new domestic card scheme acquiring licenses, Worldpay from
FIS can deliver advanced payment technology solutions and
capabilities to Argentine merchants and global companies operating
in the country.
- Worldpay will be the largest global acquirer with a Visa and
MasterCard domestic processing license in Argentina, helping
merchants reduce bank delays and fees on cross-border
transactions.
FIS® (NYSE: FIS) today announced the latest expansion of its
global footprint in the Latin American market by securing domestic
card scheme acquiring licenses in Argentina. With the ability to
offer local merchants in-country payment processing, Argentine
sellers will have access to a broader set of Worldpay from FIS
merchant solutions products and services for online commerce.
Worldpay processes billions of transactions annually across 146
countries and more than 300 payments types in 126 currencies and
will be the largest global acquirer with a domestic processing
capability in Argentina. Previously, to acquire payments locally in
Argentina, merchants would have to work with one of two providers,
however, recent regulatory changes have prompted an opening up of
the market which has allowed new entrants into the country. The
expansion is part of Worldpay’s global growth strategy.
The rapid expansion of digital technology and the globalization
of online commerce—accelerated by the COVID-19 pandemic—has
increased the need for merchants to be able to operate at worldwide
scale. With the eCommerce market in Argentina set to double by
2023, driven by mobile sales,1 merchants are moving to build
reliable and secure online selling capabilities.
“It’s an exciting time to enter Argentina’s eCommerce market
where mobile commerce growth is accelerating faster than almost
anywhere in the world,” said Juan D’Antiochia, General Manager,
LATAM, Worldpay from FIS. “Not only will local sellers benefit from
our leading geographic footprint enabling them to sell
internationally more easily than ever, the international market
will now have a faster route to sell to Argentine consumers. With
our smarter payments technology and single point of entry for
global merchants to operate around the world, our new domestic
acquiring capability in Argentina expands on our promise to enable
payments the world over.”
Because of Worldpay’s expansive global footprint, the company’s
domestic acquiring capability will give local merchants the ability
to trade across borders through a single point of integration as
well as a more seamless payments experience wherever they do
business. Further, with this expansion, Worldpay is helping open
the region to global players looking to enter the market.
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our employees are behind
our company’s mission to advance 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).
________________________________ 1 Worldpay from FIS 2020 Global
Payments Report
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version on businesswire.com: https://www.businesswire.com/news/home/20201020005078/en/
Kim Snider, +1 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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