" class="no-js "lang="en-US"> Worldpay From FIS Opens New Growth Opportunities with United Arab Emirates Expansion
Sunday, April 14, 2024

Worldpay From FIS Opens New Growth Opportunities with United Arab Emirates Expansion

Continuing to build its footprint as a leading global acquirer, global financial technology leader FIS® (NYSE: FIS) has announced today its Worldpay merchant business will be expanding its payment processing capabilities into the UAE this year.

Worldpay has secured a category II payment services licence in the UAE that allows for card acquiring and disbursements. This new domestic licence in the UAE will enable the company to offer its world-class payment services to both local companies with global ambitions, and rapidly growing enterprises looking to expand in the market. This comes on the back of its successful expansion into South Korea in 2022.

Our newest version of the Global Payments Report shows the e-commerce market in the UAE is projected to reach US$43 billion by 2026, with credit cards driving this growth, accounting for 41% of e-commerce transaction value in 2022. This makes it even more important for merchants to select the right payment partner for their business.

“The UAE presents fresh opportunities for global businesses and it’s an exciting time to be entering the market,” said Gabriel de Montessus, Head of international Merchant Solutions, FIS. “Our new domestic acquiring capability in the UAE will ensure seamless integration into the country for global merchants with a local presence, while local sellers will benefit from our leading geographic footprint enabling them to expand globally. Our local understanding of consumer behaviour will ensure success for merchants in the country and continue to fuel smarter commerce across the world.”

Merchants doing business in the UAE will be able to take advantage of Worldpay’s advanced acquiring capabilities, which will be able to connect them to authorization, clearing and payments settlement, dispute management software and data insights. Merchants will also benefit from a seamless payments experience through a single point of integration—helping to increase acceptance, improve customer experience, and reduce fraud. Supporting this new market is a proof point of Worldpay’s growth strategy to enhance its merchant acquiring presence in additional markets and expand its global capability.

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