back Back

FIS acquisition of Payrix for SMB Merchants via platforms

By Edlyn Cardoza

February 15, 2022

  • Atlanta
  • B2B
  • Banking
Share

FIS, Payrix, Embedded Payments, FinTech, Atlanta, USA, e-Commerce, SMBs, B2B, Banking, Worldpay, Blue Star Innovation Partners, Dallas, Providence Strategic GrowthFinancial technology leader FIS announces it has enhanced its embedded payments strategy with the acquisition of Atlanta-based, Payrix. This acquisition aligns with FIS’ strategy to expand its e-commerce offerings to companies of all sizes, and in any industry, by embedding payments capabilities within Software-as-a-Service (SaaS) platforms. This acquisition will also enable the FinTech leader to unlock the value of its broad solution portfolio by delivering embedded finance capabilities in addition to its e-commerce offerings to small- and medium-sized businesses (SMBs).

Founded in 2015, Payrix is an innovative FinTech company specialising in enabling SaaS-based platforms to embed payments and financial technology into their offerings to enhance the payments experience for SMBs.

An industry leader in deposit, lending, issuing, B2B and global payments solutions, FIS will leverage and combine its banking and payments assets portfolio with Payrix’s advanced embedded payments solutions to create new and differentiated experiences for any size business.

“Since acquiring Worldpay in 2019, FIS continues to expand its strategic payments capabilities and offerings in global e-commerce,” said Stephanie Ferris, President, FIS. “Bringing the Payrix capabilities inside FIS enables us to continue our journey of serving e-commerce as well as platform companies. The acquisition of Payrix is an excellent proof point of FIS’ ability to unlock the value of our broad portfolio of solutions as companies of all sizes rely on FIS as a destination for innovation to advance how the world pays, banks and invests.”

Supporting FIS’ track record of value-creating acquisitions, the acquisition of Payrix creates a differentiated solution for platforms looking to embed payments, allowing them to go global at scale. It also delivers new capabilities, including fully digital and automated onboarding, compliance, billing, and settlement, enabling the FinTech leader to quickly expand into new market segments, especially the high growth SMB e-commerce segment.

The terms of the deal are not disclosed. The acquisition is not expected to be material to FIS’ financial results to be announced on Feb. 15. Payrix was acquired from an investor group led by Blue Star Innovation Partners, a Dallas-based investment fund and Providence Strategic Growth (PSG), the growth equity affiliate of global asset management firm Providence Equity Partners.

Recently, IBS Intelligence reported that FIS has announced that global FinTech SumUp will use Worldpay’s merchant solutions portfolio as the Europe-based FinTech leader continues its international expansion.

Previous Article

February 15, 2022

KreditBee crosses milestone of issuing 1m cards

Read More
Next Article

February 15, 2022

Yoti and Ecospend partner to secure next-generation payments and financial services

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

PayPoint & Lloyds Bank enhance merchant services for UK SMEs

Read More

Today

Premier Bank & Mastercard roll out Sharia-compliant cards in Kenya

Read More

Today

Valu-Trac adopts Temenos SaaS to scale Fund Administration in the UK

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More