Expert Payments Security and Encryption Consulting

There have been exciting developments within the payments industry this past week, with Fidelity National Information Services Inc (FIS) announcing last Monday it has agreed to buy Worldpay for about $35 billion.

The acquisition marks the biggest deal to date in the fast-growing electronic payments industry.  Growth in payment systems has kept deals rolling even as merger moves in other sectors have stalled due to concerns about trade tensions and a global economic slowdown.

The record-breaking international payments deal by FIS follows on from another huge acquisition; that of Fiserv Inc in their purchase of First Data Corp for $22 billion.

A source close to the matter said: “For FIS buying Worldpay means expanding beyond the world of financial outsourcing and tapping into payment processing and e-commerce, it is a diversification play giving FIS access to the high-growth payments sector.”

The financial technology sector is consolidating fast, with global payments set to reach $3 trillion a year in revenue by 2023 as more people switch from cash to digital payments for online and high street sales, consulting firm McKinsey predicts.

Is your business staying ahead of this fast-expanding industry and embracing digital payment systems?  If so, ensure you are compliant with industry standards by entrusting your compliance with GEM SECURITY SOLUTIONS.  We will help to ensure that your business is PCI PIN compliant and handle the information security pre-assessment and remediation.  Contact us now for more information.



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