The company also plans to enhance its merchant acquiring presence in additional markets
FIS has secured a domestic acquiring license in Malaysia to provide its Worldpay payment processing platform. In South Africa and Nigeria, FIS is offering domestic payment processing services through its previously announced agreement with payments technology company Flutterwave.
According to the research conducted by FIS, Malaysia’s e-commerce market will increase 71% by 2024, driven by mobile shopping. Over the same period in Nigeria, online commerce via mobile devices is projected to more than double. In South Africa, the e-commerce industry is projected to be worth $9 billion by 2024 with mobile accounting for a third of the spend.
We’ve reported that Venmo users can now buy and sell crypto.