CEX.IO selects FIS for card management and processing services

By Megha Bhattacharya

Global cryptocurrency exchange CEX.IO has selected FIS in a bid to provide card management and processing services for a new line of crypto-based consumer cards across Europe. FIS Debit & Prepaid Platform will handle all aspects of card management and processing for the new card line, including purchase authorization, risk management, and regulatory compliance.

“As cryptocurrencies continue to gain mainstream adoption, consumers are increasingly seeking simple, convenient payment methods for making crypto-based purchases using cards and other familiar financial products,” said Kelly Beatty, Head of Payment Solutions at FIS. “We’re delighted to expand our relationship with CEX.IO to help them provide exciting new card options to their customers and support their continued growth.”

“FIS and Worldpay have proved to be a trusted and reliable technology partner and we are thrilled to have expanded our relationship with them,” said Konstantin Anissimov, Executive Director at CEX.IO. “Their expertise and industry know-how will help us simplify our business operations and help us seamlessly introduce virtual and physical cards to our customers.”

Recently, Abu Dhabi Islamic Bank (ADIB), a financial institution, has partnered with FIS to modernize its digital payment services and to provide instant payment to its customers.

ADIB aims to expand and streamline its range of payment services through the FIS Open Payment Framework (OPF), a payments infrastructure hub. The FIS Open Payment Framework will consolidate and modernise ADIB’s payment operations, facilitating end-to-end execution across the full payment lifecycle, while reducing the payment processing costs, improving Straight-Through Processing (STP) and adhering to changing regulatory compliance requirements. OPF will support all payment services and schemes that ADIB provides.