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FIS secures new licence, to expand payments in Nigeria, S/Africa

FInancial technology leader, FIS announced today that it is expanding its payment processing capabilities into the rapidly growing markets of Malaysia, South Africa and Nigeria.

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FIS has secured a domestic acquiring license in Malaysia to provide its Worldpay payment processing platform. In South Africa and Nigeria, FIS is offering domestic payment processing services through      Africa’s leading payments technology company, Flutterwave. A partner and 2016 graduate of the FIS FinTech Accelerator program, Flutterwave has processed over 140M transactions worth over $9B to date.

“The COVID-19 pandemic has accelerated the adoption of digital technology and fueled the growth of eCommerce around the world,” said Jim Johnson, Head of Merchant Solutions at FIS. “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.”

Key facts● FIS continues to drive global eCommerce with domestic acquiring capabilities in high-growth regions of Southeast Asia and Africa.
●  Through its Worldpay product portfolio, FIS will bring new payment options to merchants and eCommerce providers across these new regions.
●  FIS is offering domestic payment processing services through Africa’s leading payments technology company, Flutterwave. 

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said the partnership highlights the importance of a connected global economy. “With the growth of digital transactions opening up new markets and opportunities for global enterprises, merchants are looking for secure payment platforms in order to do business in these markets,” Agboola added: “Our partnership with FIS supports our goal to connect global businesses to African markets, and local merchants to the world,”.

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