Global Payments and Google Form Strategic Partnership to Reimagine Digital Payments

Rhea-AI Summary

Global Payments and Google announced a multi-year partnership aimed at enhancing digital merchant experiences globally. Global Payments will migrate its merchant acquiring technology to Google Cloud, improving performance and efficiency. The collaboration will include co-selling opportunities, leveraging both companies' resources to drive customer acquisition across various channels. This integration will allow merchants to access a comprehensive suite of services, utilizing Google’s technologies alongside Global Payments’ offerings, supporting global business growth and innovation.

Positive

• Expansion of Global Payments' product offerings through partnership with Google Cloud.
• Migration to Google Cloud anticipated to enhance performance and cut operational costs.
• Joint marketing efforts expected to boost new customer acquisition worldwide.

Negative

• None.

Global Payments Inc. and Google today announced an expansive multi-year partnership to deliver innovative cloud-based products and capabilities, enabling best-in-class digital merchant customer experiences worldwide. As part of the partnership, Global Payments will migrate its merchant acquiring technology to Google Cloud, and will provide merchant acquiring services to Google to extend its global market reach. In addition, Global Payments and Google Cloud will be launching a series of strategic go-to-market and co-sell activities together.

Global Payments and Google will collaborate on product development and innovation to further enhance and differentiate the suite of cloud-based solutions available to merchant customers on Google Cloud. This builds on Global Payments’ competitive advantages as a leading payments technology company globally. As an example of this co-innovation work together, Google’s public APIs (Google Workspace, Google My Business, Google Ads) and other technologies will be integrated with Global Payments’ leading software and payments ecosystem, delivering the full spectrum of solutions that merchants need to run and grow their businesses.

Global Payments’ merchant customers will be able to digitally access a robust value stack of software-as-a-service offerings, including data and analytics, omnichannel ordering, payments, collaboration suite, email marketing, online presence and reputation management, loyalty, gift card, point-of-sale, capital access and payroll solutions. These products will be delivered through Global Payments’ secure cloud-native operating environment, which offers a simple, secure user experience integrated with Google’s technology. Together, this suite of capabilities will aid merchants’ ability to run their businesses, grow and retain long-term customer relationships.

Global Payments will also migrate much of its merchant acquiring technology workload to Google Cloud, significantly streamlining its operating environment to enhance performance and drive significant cost efficiencies. By moving its acquiring technology to Google Cloud, Global Payments will be able to maintain the highest level of scalability, reliability, and security, while increasing its speed of innovation and ability to seamlessly deploy transaction services on-demand anywhere in the world.

As part of the agreement, Global Payments will become a worldwide merchant acquiring provider to Google. Google will leverage Global Payments’ Unified Commerce Platform for acceptance technology to meet its diverse payments needs.

This partnership also creates strategic co-selling opportunities worldwide for both companies. Google Cloud is a leading infrastructure, platform and industry solutions provider, helping businesses solve their most critical problems across 150 countries. Global Payments provides payments software and technology solutions to roughly 3.5 million merchant locations across 60 countries physically and more than 100 virtually. By tapping into both companies’ customer bases, the joint go-to-market efforts will drive significant referral and new merchant customer acquisition opportunities on an omnichannel basis, as well as connect consumers with merchants via search in new and innovative ways, driving commerce and growth.

“We are delighted to embark on this transformational journey with Google to further enhance our industry leading merchant solutions ecosystem with additional scale, reach and speed of market to seamlessly deliver new innovative, digital technologies to customers worldwide,” said Jeff Sloan, Chief Executive Officer, Global Payments. “This unique partnership will accelerate our technology enabled, software driven strategy and further enhance our position as the partner of choice for all manner of merchants worldwide.”

“As digital commerce evolves, Global Payments is building its computing and merchant solutions capabilities on Google Cloud,” said Thomas Kurian, CEO of Google Cloud. “This partnership will help merchants run and grow their businesses globally with speed, scale, and innovation. Together, we’re excited to support customers in turning their business and technology aspirations into reality.”

About Global Payments

Global Payments Inc. (NYSE: GPN) is a leading pure play payments technology company delivering innovative software and services to our customers globally. Our technologies, services and employee expertise enable us to provide a broad range of solutions that allow our customers to operate their businesses more efficiently across a variety of channels around the world.

Headquartered in Georgia with nearly 24,000 employees worldwide, Global Payments is a member of the S&P 500 with worldwide reach spanning over 100 countries throughout North America, Europe, Asia Pacific and Latin America. For more information, visit www.globalpaymentsinc.com and follow Global Payments on Twitter (@globalpayinc), LinkedIn and Facebook.

About Google Cloud

Google Cloud provides organizations with leading infrastructure, platform capabilities and industry solutions. We deliver enterprise-grade cloud solutions that leverage Google’s cutting-edge technology to help companies operate more efficiently and adapt to changing needs, giving customers a foundation for the future. Customers in more than 150 countries turn to Google Cloud as their trusted partner to solve their most critical business problems.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210208005253/en/

FAQ

What is the partnership between Global Payments and Google about?

Global Payments and Google announced a multi-year partnership focused on enhancing digital merchant experiences by integrating Global Payments' services with Google Cloud technology.

How will Global Payments benefit from migrating to Google Cloud?

The migration is expected to improve performance, drive cost efficiencies, and enhance scalability, reliability, and security of Global Payments' merchant acquiring technology.

What services will be offered to merchants through this partnership?

Merchants will have access to software-as-a-service offerings including data analytics, omnichannel ordering, payments, and more through a secure cloud-native environment.

How will the partnership impact customer acquisition for Global Payments?

The collaboration is expected to create significant new customer acquisition opportunities through joint go-to-market efforts, leveraging both companies' customer bases.

What is the role of Google Cloud in Global Payments' strategy?

Google Cloud will provide the infrastructure for Global Payments, enhancing their technology capabilities and allowing for accelerated innovation in payment solutions.