Fidelity National Information Services (FIS), through its subsidiary Worldpay, has received the domestic card scheme acquiring licenses in Argentina, expanding its presence in the Latin American market.
With the new capabilities, Worldpay is expected to provide Argentina-based merchants with in-country payment processing, providing access to a wide range of merchant solutions products and services for online commerce.
Worldpay from FIS LATAM general manager Juan D’Antiochia said: “It’s an exciting time to enter Argentina’s eCommerce market where mobile commerce growth is accelerating faster than almost anywhere in the world.
“Not only will local sellers benefit from our leading geographic footprint enabling them to sell internationally more easily than ever, the international market will now have a faster route to sell to Argentine consumers.
“With our smarter payments technology and single point of entry for global merchants to operate around the world, our new domestic acquiring capability in Argentina expands on our promise to enable payments the world over.”
FIS domestic acquiring capability will help local merchants to trade across borders
Previously, merchants in Argentina had to work with either of the providers, to acquire payments locally in the country.
The recent regulatory changes in Argentina opened the market, allowing new players to enter the country.
According to the company, rapid expansion of digital technology and e-commerce, accelerated by the Covid-19 pandemic, has enhanced the need for merchants to operate globally.
As the e-commerce market in Argentina is estimated to double by 2023, merchants are enhancing their capabilities for reliable and secure online selling.
Worldpay’s domestic acquiring capability would enable local merchants to trade across borders through a single point of integration.
FIS is a provider of financial technology solutions for merchants, banks and capital markets firms around the world.
Worldpay is engaged in processing transactions across 146 countries and more than 300 payments types in 126 currencies.
