FIS Expands Payment Capabilities Into South Africa and Nigeriaby Fintechnews Africa 4 May 2021
FIS, an American Fortune 500 company which offers a wide range of financial products and services, announced that it is expanding its payment processing capabilities into the rapidly growing markets of South Africa, Nigeria and Malaysia.
In South Africa and Nigeria, FIS is offering domestic payment processing services through its previously announced agreement with payments technology company Flutterwave, a 2016 graduate of the FIS Accelerator programme.
Flutterwave who recently attained unicorn status said in a statement that the partnership will allow merchants to process card networks such as Mastercard and VISA and this offers businesses expanding to Nigeria and South Africa a deeper way of understanding the customer. This move helps these businesses expand globally.
Meanwhile in Asia, FIS has secured a domestic acquiring license in Malaysia to provide its Worldpay payment processing platform.
Through its Worldpay product portfolio, FIS is said to process billions of transactions annually across 146 countries and more than 300 payments types in 126 currencies.
As part of its growth strategy, FIS aims to enhance its merchant acquiring presence in additional markets, enabling the company to offer its payment services to local companies with global ambitions as well as rapidly growing enterprises looking to expand in these regions.
In addition to Africa and Malaysia, FIS has recently added new consultants in Germany, Iberia, the Nordics, and other European locations.
“The COVID-19 pandemic has accelerated the adoption of digital technology and fueled the growth of eCommerce around the world. Emerging markets across Southeast Asia and Africa present fresh opportunities for global businesses.
These new markets are also home to a new generation of ambitious high-growth regional brands looking to expand their footprint. Our goal at FIS is to be a true partner to these enterprises, passporting them to success wherever in world they want to be.”
said Jim Johnson, Head of Merchant Solutions at FIS.
This article first appeared on fintechnews.my
Featured image credit: Edited from Unsplash