Global payments company Worldpay released a handful of new features this week for its Worldpay Total platform, an API-based omni-channel payments solution for card-not-present (CNP) merchants. This comes just 10 months after the platform was launched.
The new features are not only aimed at existing users, but Worldpay also hopes to leverage the tools to access new markets, including CNP and Windows-based merchants. “We know the payments landscape is ever-changing, so Worldpay Total must change with it,” said Ian Van Buskirk, vice president of product strategy at Worldpay US. “These new features will improve the process for customers and merchants, providing customers with more payment options – whether in-store or online – and providing merchants with an enhanced suite of omni-channel capabilities.”
The five new features include:
- Account Updater: Automatically verifies that the system of record contains accurate customer payment information.
- CAT Kiosks: Reduces wait times in checkout lines with an unattended, computer assisted terminal (CAT) kiosk that offer products and accept payments anywhere customers want to shop and buy.
- Dynamic Descriptors: Offers customers richer receipt detail when merchants submit unique business names and MCC codes for each transaction.
- Quick Chip Technology through Windows IPC: Significantly decreases in-terminal transaction times for Windows-based merchants by leveraging Quick Chip technology, a chip card payment processing upgrade.
- Digital Wallets: Allows online shoppers to check out faster on any device and pay securely with just a username and password using Visa Checkout. Worldpay Total will soon support additional digital wallets, including Masterpass and One Touch.
This development comes less than a month after Worldpay announced it agreed to be acquired for $9.9 billion by credit card processor Vantiv. Founded in 1991, Worldpay processes more than 31 million transactions per day, or around 400 per second. The company supports 400,000 merchants in 126 currencies across 146 countries and processes about 42% of all transactions in the U.K. Worldpay has 5,000 employees in 25 offices located in 11 countries around the world.
At FinDEVr Silicon Valley 2016, Worldpay’s Abe Gandara, Sr. Solution Consultant presented It’s Not Just about Getting Paid, It’s about the Payment Journey. Earlier this spring, Worldpay partnered with Preoday to include the company’s integrated online ordering and payment solution in its offerings.