Fidelity National Information Services (FIS) recently announced its acquisition of Worldpay, a leading payment processing company, for $43 billion. This acquisition has allowed FIS to expand its embedded finance capabilities, which is the integration of financial services into non-financial products and services.
Embedded finance has become increasingly popular in recent years, as it allows companies to offer financial services to their customers without having to become a licensed financial institution. This can include anything from offering loans or insurance through a mobile app, to providing payment processing services for e-commerce businesses.
The acquisition of Worldpay has allowed FIS to expand its embedded finance capabilities by offering payment processing services to a wider range of businesses. This includes small and medium-sized enterprises (SMEs), which have traditionally been underserved by traditional financial institutions.
According to the National Crowdfunding & Fintech Association of Canada (NCFA), this acquisition is a significant development in the fintech industry. Craig Asano, the CEO of NCFA, stated that “FIS’s acquisition of Worldpay is a game-changer for the fintech industry. It will allow FIS to offer a wider range of financial services to businesses of all sizes, and will help to drive innovation in the industry.”
Asano also noted that the acquisition is a positive development for SMEs, as it will provide them with access to affordable payment processing services. “SMEs are the backbone of the economy, and they need access to affordable financial services in order to grow and thrive. FIS’s acquisition of Worldpay will help to level the playing field for these businesses, and will allow them to compete more effectively with larger companies.”
Overall, FIS’s acquisition of Worldpay is a significant development in the fintech industry, and is likely to have a positive impact on both businesses and consumers. By expanding its embedded finance capabilities, FIS is helping to drive innovation in the industry and provide more affordable financial services to a wider range of customers.
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- Source: Plato Data Intelligence.