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The expansion enables Worldpay to offer best-in-class payment services to local companies looking to expand globally, as well as fast-growing businesses looking to gain a foothold in the market.
Merchants operating in the UAE can now use Worldpay’s acquiring functionality. These capabilities connect businesses with authorization, clearing and payment settlement processes, dispute management software and data insights. The move reflects Worldpay’s growth strategy to expand its merchant acquiring business in new markets and strengthen its global capabilities – following a successful expansion into South Korea in 2022.
According to FIS’ Global Payments Report, the UAE’s e-commerce market is expected to reach $43 billion by 2026. Growth will be primarily driven by credit cards, which account for 41% of e-commerce transaction value in 2022.
Gabriel de Montessus, Head of International Merchant Solutions at FIS, said: “The UAE offers new opportunities for global businesses and now is an exciting time to enter the market.
“Our new domestic acquiring capabilities in the UAE will ensure that global merchants with local operations are seamlessly integrated into the country. Local sellers will benefit from our leading geographic footprint, enabling them to expand globally. Our commitment to local consumers This understanding of behavior will ensure the success of merchants in the country and continue to drive smarter commerce globally,” added de Montessus.
WorldPay, a subsidiary of FIS Global, provides payment processing and value-added services, payment methods, and solutions such as security and compliance.
February, FIS Announce It intends to divest its merchant services business, which mainly includes Worldpay, which it acquired in 2019 for $43 billion. March, Worldpay roll out GoDaddy’s new platform aims to allow small businesses to accept payments from a variety of channels.
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