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FIS expands payment processing capabilities across Africa and Asia

Apr 26, 2021

The company also plans to enhance its merchant acquiring presence in additional markets

FIS

FIS expands payment processing capabilities across Africa and Asia. Source: shutterstock.com

FIS has announced it is expanding its payment processing capabilities into the rapidly growing markets of Malaysia, South Africa, and Nigeria.

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 its previously announced agreement with payments technology company Flutterwave.

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

According to the research conducted by FIS, Malaysia’s e-commerce market will increase 71% by 2024, driven by mobile shopping. Over the same period in Nigeria, online commerce via mobile devices is projected to more than double. In South Africa, the e-commerce industry is projected to be worth $9 billion by 2024 with mobile accounting for a third of the spend.

We’ve reported that Venmo users can now buy and sell crypto.

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