Worldpay from FIS secures Argentina operations licenses

By Sunniva Kolostyak

Global processor Worldpay from FIS has secured domestic card scheme acquiring licenses in Argentina, expanding its Latin American footprint.

Argentinian merchants will get access to advanced payment technology solutions for online commerce, including in-country payment processing and the ability to trade across borders through a single point of integration.

With the licenses, issued from both Visa and MasterCard, Worldpay will be the largest global acquirer with a domestic processing capability in Argentina.

“It’s an exciting time to enter Argentina’s eCommerce market where mobile commerce growth is accelerating faster than almost anywhere in the world,” Juan D’Antiochia, General Manager, LATAM, Worldpay from FIS, commented.

D’Antiochia noted that Covid-19 has helped accelerate the expansion of digital technology and the globalisation of online commerce has increased the need for merchants to be able to operate at a worldwide scale. Moreover, e-commerce in Argentina is set to double by 2023, driven by mobile sales.

As a result, merchants are moving to build reliable and secure online selling capabilities.

D’Antiochia added: “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.”

Previously, to acquire payments locally in Argentina, merchants would have to work with one of two providers, however, recent regulatory changes have prompted an opening up of the market which has allowed new entrants into the country.

Local merchants now have the ability to trade across borders through a single point of integration as well as a more seamless payments experience wherever they do business.

Worldpay from FIS processes billions of transactions annually across 146 countries and more than 300 payments types in 126 currencies. The expansion is part of Worldpay’s global growth strategy, which also helps open the region to global players looking to enter the market.