By Stuart Kehler & Leland Bolleter
In August of 2017 the US company Vantiv agreed to acquire Worldpay for $10.4 billion. The combined company will be valued at $30 billion. The new company will keep the Worldpay name with global and corporate headquarters in Cincinnati, Ohio. Worldpay’s London offices will become their international headquarters. The acquisition was completed on January 16th, 2018.
Payments processors value add, is that they bring to the market correct information on approvals in a matter of seconds. Worldpay is considered a financial-technical (fin-tech) company. If one word can describe how many fintech innovations have affected traditional markets, it’s ‘disruption,’ as financial products move toward mobile devices or simply away from large, entrenched institutions. Worldpay routes transactions from retailers to banks to allow sales via credit and debit cards.
Worldpay will extend services to 146 countries and will be the world’s-largest-payment processor that handles over $1.5 trillion in transactions per year. Worldpay’s future goals include, understanding consumer behavior to drive competitive advantage for customers/retailers and help obtain maximum transaction acceptance rates. Lastly, Worldpay is working to optimize transaction costs through efficient routing to be able to offer the best rates to customers.