FIS’ payment solution offers growth opportunities for Nigeria, others

A United States-based financial products and services company, Fidelity National Information Services Incorporated, has secured a license in Malaysia to provide its Worldpay payment processing platform.

Hudson Sandler’s Country Manager in Nigeria, Nelly Akpaka, disclosed this on Wednesday in a statement made available to Financial Street.

According to the statement, FIS is offering domestic payment processing services through Africa’s leading payments technology company, Flutterwave, in South Africa and Nigeria.

It quoted the Head of Merchant Solutions at FIS, Jim Johnson, as saying, “The COVID-19 pandemic has accelerated the adoption of digital technology and fueled the growth of e-Commerce around the world.”

“Emerging markets across Southeast Asia and Africa present fresh opportunities for global businesses. These new markets are also home to a new generation of ambitious high-growth regional brands looking to expand their footprint. Our goal at FIS is to be a true partner to these enterprises, passporting them to success wherever in the world they want to be,” Johnson added.

The recently published ‘2021 Global Payments Report’ by Worldpay from FIS projected that Nigeria’s online commerce via mobile devices is projected to more than double by 2024, to be valued at $31bn.

In South Africa, the e-Commerce industry is projected to be worth $9bn by 2024 with mobile accounting for a third of the spending.

On his part, the Founder and Chief Executive Officer of Flutterwave, Olugbenga Agboola, said the partnership highlights the importance of a connected global economy.

“With the growth of digital transactions opening up new markets and opportunities for global enterprises, merchants are looking for secure payment platforms in order to do business in these markets.

“Our partnership with FIS supports our goal to connect global businesses to African markets, and local merchants to the world,” Agboola added.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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