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SumUp to Use Worldpay from FIS to Support Global Expansion and Growth
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
FIS has partnered with SumUp to provide global acquiring services using Worldpay's merchant solutions. This collaboration supports SumUp's growth in over 30 markets, catering to more than 3.5 million merchants. Worldpay from FIS will enhance SumUp’s services with features like authorization, clearing, settlement, and data insights. Jim Johnson from FIS highlighted the importance of local consumer behavior understanding for successful market entry. The partnership aims to deliver seamless payment experiences as digital payment technology adoption accelerates worldwide.
Positive
Partnership with SumUp expands FIS's market reach.
Utilization of Worldpay's advanced acquiring services enhances SumUp's capabilities.
Supports over 3.5 million merchants, indicating strong growth potential.
Negative
None.
Worldpay from FIS selected by SumUp to provide global acquiring services.
SumUp will utilise Worldpay’s scale to support continued global expansion.
LONDON--(BUSINESS WIRE)--
Financial technology leader FIS® (NYSE: FIS) has today announced that global fintech SumUp will use Worldpay’s merchant solutions portfolio, as the Europe-based fintech leader continues its global expansion.
London-based SumUp supports over 3.5 million merchants in over 30 markets. The fintech offers tailor-made digital business solutions to small businesses and entrepreneurs, allowing them to run their business as well as pay simply, easily and securely with a range of card readers and multiple remote payment solutions such as invoices, gift cards and payment links.
The financial technology company will utilize Worldpay from FIS’s global scale and advanced acquiring services, which includes authorization, clearing and settlement, dispute management and data insights. The partnership will help SumUp expand into new markets, while enabling seamless payments experiences.
“The adoption of digital payments technology around the world continues to accelerate, and as companies enter new markets, they need local understanding of consumer behavior to ensure success,” said Jim Johnson, Head of Merchant Solutions, Worldpay from FIS. “We are excited to team with SumUp to help them provide frictionless payments and fuel smarter commerce in the markets they serve.”
“At SumUp our vision is a world where the smallest and most unique businesses can be successful in doing what they love. We are focused on providing innovative solutions which enhance the payment experience, and that is why we’ve chosen to align our business with Worldpay solutions,” said Steve Delpy, Global Head of Acquiring, Payment Network and Expansion at SumUp. “Worldpay’s global footprint and deep expertise in the sector will allow us to continue to provide our valued customers with a secure and convenient payment experience”.
FIS processes over $2 trillion in transactions annually across more than 100 countries in numerous payments types and currencies.
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing 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 ranks #241 on the 2021 Fortune 500 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).
About SumUp
SumUp is a leading global financial technology company with the vision to create a world where small merchants can be successful doing what they love. SumUp supports over 3.5 million merchants in more than 30 markets across Europe, the U.S., and Latin America, with tailor-made business tools created specifically for the micro and nano segment.
SumUp gives small businesses a toolkit to run their entire operations. The extensive product suite includes proprietary terminal hardware, SumUp Business Account and Card, e-commerce, remote payments, invoicing, and point-of-sale registers. Committed to leveraging its success to make the world a better place, SumUp has pledged to donate 1% of future net revenues to environmental causes.
What is the partnership between FIS and SumUp about?
FIS has partnered with SumUp to provide global acquiring services through Worldpay's merchant solutions, supporting SumUp's expansion in multiple markets.
How many merchants does SumUp support?
SumUp supports over 3.5 million merchants in more than 30 markets globally.
What services will SumUp utilize from Worldpay?
SumUp will utilize Worldpay's authorization, clearing, settlement, dispute management, and data insights services.
What role does FIS play in the fintech industry?
FIS provides technology solutions for merchants, banks, and capital markets, processing over $2 trillion in transactions annually.
How does the partnership benefit SumUp's global expansion?
The partnership enables SumUp to leverage Worldpay's global scale, enhancing their payment experience and facilitating entry into new markets.
