A common problem that we run into when we are talking about payment plugins is who do we work with? The processing industry has consolidated via mergers, acquisitions, and rebranding. This leaves a confusing ecosystem for people who just want to get their transactions processed! One of the biggest companies in the industry is the organization known as Worldpay, it has gone through so many changes overtime that when we get one plugin released, it may need to go by a different name! The following is a brief summary of the history of Worldpay.
Whether you know them as Worldpay Group, Worldpay Inc, Royal Bank of Scotland, Litle & Co, Express, Mercury Payments, Worldpay by FIS Global or one of several other acquisitions or names that they have gone through the team at Radial Payments is here to help you get your ecommerce connected, easily, affordably and quickly.
Worldpay, Inc has undergone a remarkable evolution since its inception. From Vantiv to FIS Global, the company has undergone several changes in ownership, and it continues to stand tall as one of the most significant payment processing technology corporations worldwide. Its expertise in online payments has made it a favorite amongst consumers and businesses alike.
Worldpay, Inc. was a leading American payment processing company and provider of technology services. In June 2019, the company was merged with Fidelity National Information Services (FIS) after being acquired. Prior to this, the company was based in the greater Cincinnati, Ohio area. Worldpay (previously known as Vantiv) was the largest U.S. merchant acquirer based on general-purpose transaction volume.
The company offered payment and technology services to merchants and financial institutions in the U.S., processing over 20.1 billion payment transactions and approximately $726 billion in volume annually. As of 2014, its predecessor company, Vantiv, supported around 400,000 merchant locations and over 17,000 automated teller machines (ATMs) in 46 states and eight countries.
Worldpay’s clients included customers in various industries such as retail, restaurant, government, e-commerce, supermarket, drug store, business to business, and consumer services. Its financial institution clientele included regional banks, community banks, credit unions, and regional personal identification number (PIN) debit networks.
The company adopted the name “Vantiv” in June 2011 as a step towards becoming a public company. Previously, it was a joint venture between Advent International and Fifth Third Bancorp. Vantiv became a publicly traded company on March 22, 2012, listed on the NYSE under the ticker symbol “VNTV”. It acquired London-based Worldpay Group plc and changed its name to Worldpay, Inc. on January 16, 2018.
Litle & Co
Worldpay has a rich history of acquisitions, expanding its offerings and geographical reach. In December 2012, it acquired Litle & Co., a privately held e-commerce payment processing solutions provider. Vantiv also became the first U.S. acquirer to complete MasterCard’s testing requirements to process EMV transactions for MasterCard, Maestro, and Cirrus brands at both ATM and point-of-sale locations. In July 2017, the company announced its intention to acquire British-based Worldpay for $10.4 billion.
In March 2019, Fidelity National Information Services, Inc. (FIS) announced a $43 billion deal to acquire Worldpay, the largest deal ever in the international payments sector. The acquisition was completed in June 2019, and Worldpay was merged into FIS.
Worldpay spins off FIS Global
In February 2023, FIS announced plans to spin off its merchant business, which includes Worldpay, within the next 12 months following pressure from activist investors.
Worldpay continues to be a major player in the payment processing industry, expanding its geographical reach and offerings to better serve its clients. Radial Payments will continue to support our clients regardless of name. If you have any questions about your particular circumstances, we’re just a click or a phone call away.