Finovate Alumni News

On Finovate.com

  • Worldpay Goes Australasia.
  • Capsilon Beta Launches Digital Underwriter.

Around the web

  • Temenos partners with Canada Life to support UK life and pension funds accounting.
  • Enova Decisions Announces Joint Venture with China Financial.
  • AlphaPoint enhances technology stack to service security token issuance and exchange customers.
  • Gusto names Kenny Wyatt as Chief Sales Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Worldpay Goes Australasia

The news that payment processing giant Worldpay is expanding to Australasia comes just days after the U.K.-based company announced its pending sale to FIS.

Worldpay is making two major moves in the Australasia region. First, it opened two sales offices in Australia, enhancing the company’s market presence. Second, Worldpay launched into the New Zealand market, after having received its local license, enabling in-country payment processing.

With the new Australia locations, Melbourne and Sydney, Worldpay is ultimately aiming to gain more clients. The company already boasts clients such as VGW, Skiddoo, Lonely Planet, and Webjet. And there’s plenty of room for growth in the region– Australia’s eCommerce sector is expected to grow almost 37% in the next three years.

Having a card processing license in New Zealand will allow Worldpay to process New Zealand-based merchants’ payments domestically. Worldpay’s Global reach will create a more seamless way for those New Zealand-based companies to trade with the rest of the world economy.

“By building a team of payments experts located in Australia, alongside the addition of a domestic card payment acquiring capability in New Zealand, Worldpay can offer a service that goes beyond the transactional. Our investment and addition of this new license will enable us to further provide unparalleled access to global markets to help eCommerce businesses deliver on their international growth ambitions,” said Worldpay’s Phil Pomford, General Manager of Global Enterprise eCommerce in APAC.

Founded in 1971, Worldpay most recently participated in FinDEVr Silicon Valley 2016, where the company discussed what customers are looking for in the payment journey. Earlier this month, the company agreed to be acquired by FIS for $34 billion. The deal is expected to close at the end of this year.

Finovate Alumni News

On Finovate.com

  • ACI Worldwide Partners with Solutions by Text.
  • Envestnet to Acquire PIEtech for $500 Million.

Around the web

  • Prepaid Technologies Acquires Dash from Karmic Labs.
  • Switch launches its issuer-branded CardUpdatr app.
  • Kinetica unveils its active analytics platform that makes it easier to deliver smart analytics applications at scale.
  • Forbes interviews co-founder and CEO of Onfido, Husayn Kassai.
  • Tinkoff Mobile, a subsidiary of Tinkoff Bank, announces service in six new regions.
  • DocuSign launches its DocuSign Agreement Cloud to help companies better manage business agreements digitally.
  • Capsilon announces the beta launch of its digital underwriter solution.
  • AlphaPoint adds DiamondBack stablecoin to its crypto exchange.
  • Sri Lanka’s Bank of Ceylon goes live with Clari5 Anti-Money Laundering (AML) Solution to address money laundering threats.
  • PYMNTS: Amazon and Worldpay team up on one-click commerce.
  • NetGuardians‘ AI fraud-prevention software available on Microsoft Azure.
  • TurnKey Lender signs partnership agreement with Refinitiv.
  • MX and Personetics partner to bring AI-driven insights to financial institution customers.
  • ICBA and Jack Henry’s ProfitStars expand preferred service provider program with remote deposit capture solutions.
  • Insuritas and Oregon Mutual announce partnership to offer auto and home insurance solutions through meta-agency platform.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FIS Acquires Worldpay

Banking technology giant FIS is acquiring payments firm Worldpay via a cash and stock combination – bringing Worldpay’s enterprise value to approximately $43 billion (including the assumption of Worldpay debt, which FIS expects to refinance), reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

According to Bloomberg, FIS is spending $34 billion on this purchase.

“Scale matters in our rapidly changing industry,” said Gary Norcross, chairman, president and CEO, FIS. “Upon closing later this year, our two powerhouse organisations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.”

“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives,” said Charles Drucker, executive chairman and chief executive officer, Worldpay.

Organic revenue growth outlook has grown from 6% to 9% through 2021 for FIS, in conjunction with $700 million of total EBITDA synergies from the combination of revenue and expense opportunities over the next three years.

This acquisition comes hot on the heels of another massive deal in the payments space: Fiserv, another US heavyweight and direct rival of FIS, buying First Data.

Worldpay, as it is today, is also the result of a big merger with Vantiv announced back in 2017.

The combined company of Worldpay and FIS will have pro forma 2018 annual revenue and adjusted EBITDA of approximately $12.3 billion and $4.9 billion, respectively.

Upon closing, the combined company’s Board of Directors will consist of 12 members, seven of which will come from FIS’ board of directors and five of which will come from Worldpay’s.

Gary Norcross will remain as FIS chairman of the board, president and chief executive officer. Charles Drucker, Worldpay’s current executive chairman and CEO, will serve as the executive vice-chairman of the board.

The transaction is subject to receipt of required regulatory and shareholder approvals and other customary closing conditions and is expected to close in the second half of 2019.

FIS demonstrated its Cardless Cash solution at FinovateFall 2016. Cardless Cash provides consumers with faster, more secure options when it comes to sending and accessing cash via ATMs, including the ability to pre-order funds from their mobile banking app.

Founded in 1958 and headquartered in Jacksonville, Florida, FIS trades on the New York Stock Exchange under the ticker “FIS.” The company has a market capitalization of $35 billion.

Worldpay participated in our developers conference, FinDEVrSiliconValley 2015. The company’s Head of Strategic Partnerships discussed how businesses can add secure payments to any website, app, or mobile device via the Worldpay Securenet API.

Worldpay was founded in 1971 (as Midwest Payment Systems) and is headquartered in Cincinnati, Ohio. With a market capitalization of $33 billion, Worldpay trades on the NYSE under the ticker “WP.”

Finovate Alumni News

On Finovate.com

  • IBM Debuts Blockchain Network for Cross-Border Payments.
  • Finovate Global: PayPal in Argentina; Temenos Backs African Challenger Bank.

Around the web

  • Envestnet to acquire PIEtech, maker of MoneyGuide, in $500 million deal.
  • HooYu partners with online lottery betting operator, Lottomart, to help the Gibraltar-based firm meet AML requirements.
  • Wipro launches its AI and machine learning-powered accounts payable, KYC, and other solutions on Amazon Web Services.
  • Polish neo bank Nest Bank unveils new lifestyle services module, Finanteq’s SuperWallet, to its mobile banking app.
  • FindBiometrics interviews Biometric Signature ID CEO, President, and founder, Jeff Maynard.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Glacier Bancorp Deploys Roostify Powered Digital Mortgage Solution.

Around the web

  • Fiserv Announces Plans to Acquire First Data in $22 Billion Deal.
  • Forrester names CREALOGIX as a leader in the Now Tech: Digital Banking Engagement platforms, Q4 2018.
  • Worldpay and Revel Systems announce enhanced partnership to provide consolidated POS and payments solution.
  • International bookmaker and gaming operator SKS365 picks ARIC Fraud Hub from Featurespace for real-time fraud protection.
  • PayPal appoints marketing executive Allison Johnson to EVP and Chief Marketing Officer.
  • Forbes features iProov in article discussing identity and blockchain technology.
  • FICO teams up with electronics payments specialist Conductor to support payment card fraud protection in Brazil.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Anorak Raises $6.5 Million in Series A.

Around the web

  • British lender CYBG signs payments partnership with Worldpay.
  • Azimo begins money transfer service to China.
  • AlphaPoint announces TrueUSD integration to Exchange Technology Network.
  • InComm partners with Xsolla to enable online game account funding with cash.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Mastercard Teams Up with Worldpay to Launch ‘Pay by Bank’ in the U.K.

With Pay by Bank, Mastercard and Worldpay are making it easy for shoppers in the U.K. to pay directly from their bank account when purchasing goods and services online. The technology, originally developed by Zapp (which was a division of VocaLink, a company Mastercard acquired in 2016) is expected to be available to customers of HSBC in the second half of 2018. Additional customers will be added later in the year, with new merchants to be added starting early in 2019.

“This is the latest way we’re able to deliver on consumer’s expectations, whether they’re shopping online or paying for utilities,” Mark Barnett, president of Mastercard U.K., Ireland, Nordics, and Baltics. “(Pay by Bank) is set to play a big role in U.K. digital commerce as more banks and merchants offer this as a payment option to millions of their customers.”

The initiative and partnership is also likely to play a big role in Mastercard’s ability to participate in the U.K. debit market, where Visa is common. The agreement will also enable Mastercard to leverage Worldpay’s strong market share in the U.K.

“Through this partnership, Worldpay and Mastercard will help expand payment acceptance options for U.K. consumers and retailers by leveraging account-to-account payments technology with Mastercard’s Pay by Bank app,” Chief Strategy and Marketing Officer for Worldpay Kevin McCarten said. “This – combined with our joint efforts in making digital payments even more convenient and secure globally – creates a powerful partnership that benefits all payments stakeholders.”

Some of the technical features of the new solution include support for EMVCo’s Secure Remote Commerce (SRC), a framework that provides a consistent payment experience for consumers, as well as Mastercard’s Digital Enablement Service which uses a token for enhanced payment security as opposed to a card’s primary 16-digit account number. Worldpay will also take advantage of Mastercard’s MoneySend to enable merchants to get settlement payments to Mastercard debit cards faster.

Mastercard partnered with Vipera for a demonstration of SME Pay at FinovateEurope 2018. SME Pay is a mobile payment solution geared specifically toward small business owners. The technology gives business operators the ability to control how and when company payment cards are used, and includes capture features to make record-keeping and expense reporting easier.

The company made its most recent solo appearance at a Finovate conference the previous year at FinovateFall 2017, where it demonstrated its Cash Pick-Up solution. The technology enables a wide variety of disbursers – from P2P providers and corporate entities to NGOs and government agencies – to deliver cash to consumers through enabled ATMs without requiring a card. In addition to helping serve the underbanked, the solution can be used for emergency funds when cards are lost or stolen, P2P payments, or even for disaster relief. Trading on the New York Stock Exchange under the ticker “MA,” Mastercard has a market capitalization of $213 billion. The company was founded in 1966 and is headquartered in Purchase, New York.

Worldpay participated in our developers conference, FinDEVr Silicon Valley 2016. The company’s presentation, It’s Not Just About Getting Paid, It’s About the Payment Journey, discussed the importance of implementing a “consumer friendly buying journey” when it comes to growing sales. Worldpay provides technology-led payment products and services to more than 400,000 customers using more than 300 different payment types. Founded in 1989 and headquartered in London, U.K., Worldpay merged with Vanitv at the beginning of the year in a deal valued at $10 billion.

Finovate Alumni News

On Finovate.com

  • ACH Alert Reports Record Growth, Stops More than $388 Million in Fraudulent Transactions.
  • Mastercard Teams Up with Worldpay to Launch Pay by Bank in the U.K.

Around the web

  • NetGuardians becomes a certified Avaloq software partner for real-time fraud prevention.
  • Temenos inks multi-year investor servicing contract with Northern Trust.
  • Worldline picks up PISP and AISP licenses from National Bank of Belgium.
  • Enveil earns Standard Technology Partner status in Amazon Web Services partner network.
  • Lleida.net credits new GDPR legislation in the EU for surge in sales for first half of 2018.
  • Equifax acquires specialty credit reporting agency DataX.
  • CFE Federal Credit Union implements Larky’s Engagement Platform.
  • Ledger launches Ledger Live, the all-in-one companion app to your Ledger device.
  • Xero integrates with BBVA’s API Market for small businesses.
  • Lendio expands the Lendio franchise in Rochester, New York.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

Around the web

  • Business-only Australian bank Tyro forges partnerships to improve connectivity between POS, apps, and merchants.
  • Finastra appoints Elona Ruka-Wright as its new Chief Risk Officer.
  • Australian FinTech Study Loans partners with Cloud Lending Solutions to build new student loan offering.
  • LendingTree to acquire Ovation Credit Services for total consideration of $20.75 million.
  • Socure secures three new ISO certifications for privacy and security controls.
  • Spreedly to integrate Worldpay’s international payment processing API courtesy of new partnership.
  • Hypepotamous profiles South African authentication specialist Entersekt.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.