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FIS Payments Network Enables Real-time, Mobile-driven Payments for Merchant Customer Exchange (MCX) Members Key Facts Merchant Customer Exchange (MCX), owned by major U.S. retailers, selects FIS ...
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech , and as of Q2 2024 it offers its solutions in two primary segments: Banking Solutions & Capital Market Solutions.
In February 2023, in the wake of pressure from activist investors, FIS announced it would spin off its merchant business that consisted of Worldpay in the next 12 months. [29] In July, private equity firm GTCR agreed to acquire a 55 percent stake in WorldPay from FIS for $11.7 billion, valuing WorldPay at $18.5 billion. [30] [31]
In February 2023, in the wake of pressure from activist investors, FIS announced it would spin off its merchant business that consisted of Worldpay in the next 12 months. [23] In July, private equity firm GTCR agreed to acquire a 55 per cent stake in WorldPay from FIS for $11.7 billion, valuing WorldPay at $18.5 billion. [24]
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FIS, based in Jacksonville, Florida, said at the time it would pursue a tax-free spin-off of its merchant business and disclosed a $17.6 billion write-down related to its Worldpay acquisition.
EFD (or eFunds Corporation) was a Scottsdale, Arizona based payments processor of electronic payments including debit card and automated teller machine (ATM) transactions. . It provided financial service companies and other large enterprises with new account decisions, fraud detection and payment processing servic
Many merchants offer subscription services, which require payment from a customer every month. SaaS payment processors relieve the responsibility of the management of recurring payments from the merchant and maintain safe and secure the payment information, passing back to the merchant a payment "token" or unique placeholder for the card data.