London-based Trust Payments, a disruptive leader in fintech specialising in frictionless payments and value-added services, is expanding its existing relationship with Fiserv to support the company’s ambitious growth and worldwide expansion plans. The new long-term agreement builds on the companies’ successful collaboration since 2012 and will allow Trust Payments to provide its clients with on-demand payment capabilities, enabled by acquiring-as-a-service (AqaaS) capabilities from Fiserv.
The emergence of AqaaS has made it possible for a broad range of fintechs beyond financial institutions or large payment processers to become merchant acquirers, enabling the acceptance of card payments for their own clients.
“Enabling card payment acceptance is a must for any company looking to include payments as part of their services mix. And, for fintechs offering payment acceptance, the selection of a processing partner is critical, as their advice, experience, flexibility and reliability have a strategic impact on business operations and growth,” said Adam Bowman, Vice President of Acquiring-as-a-Service at Fiserv. “Trust Payments is one of the industry’s most dynamic payments players, and we are proud to extend our relationship with them as they accelerate their growth and serve even more businesses.”
Trust Payments is seeing rapid growth, with a 73% increase in total revenues last year, as more merchants recognised the need for digitisation of payments and commerce, partially fuelled by the rise in contactless spending and the need to meet growing customer demand for omnichannel experiences.
“Trust Payments has had a successful, long-standing relationship with Fiserv and is delighted to further extend this partnership based on the proven Fiserv track record of supporting acquirers at scale,” said Daniel Holden, Chief Executive Officer of Trust Payments. “With this extension, Fiserv will deliver the next generation payment processing capability necessary to support Trust Payments’ growth for years to come.”
Trust Payments is also one of the first businesses to utilise the Fiserv suite of API-enabled services to facilitate faster and more seamless access to new capabilities.
“Fiserv has demonstrated its commitment to invest in its technology and processing services in the coming years, which will be pivotal to Trust Payments’ delivery of data and services to our clients via on-demand APIs and SDKs,” said Holden. “This partnership will enable us to continue providing our merchants with the most innovative global commerce services.”
