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FIS to Acquire WorldPay

By March 18, 2019January 28th, 2021No Comments
FIS Logo

FIS, also known Fidelity National Information Services, has entered into an agreement to acquire e-commerce payments processor WorldPay. WorldPay is one of the top 10 US payments processor and itself was a result of the merger of Vantiv and Worldpay. This acquisition will propel FIS, a CardLinx member, into the top echelon of payments players globally. Consolidation in the fintech ndustry has been intensifying. In January, Fiserv entered into an agreement to acquire payment processor First Data for $22 billion.

The FIS/Worldpay deal is worth $43 billion and the combined company will keep FIS’s name and headquarters in Jacksonville, Florida. FIS CEO Gary Norcross will remain chairman and chief executive, and FIS will hold seven of 12 board seats.

CardLinx Insight

FIS’s acquisition of WorldPay illustrates that the drive for scale is an important component for innovation and growth in the fintech industry. Just as retailers are seeking strategies to capture both online and in-store sales, payments companies are also looking to expand their products and influence to both in-store transactions and e-commerce payments. The newly combined FIS will be a formidable competitor in the payments industry. The deal continues the rapid pace of consolidation within the fintech space with the leading companies bulking up to achieve scale in products, data and services to both merchants and banks. We expect this consolidation to accelerate in other segments of fintech also.

fis and worldpay

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