Worldline extends card processing partnership with ING bank
By Gloria Methri
Worldline, the French global payments firm, has announced the extension of its multi-year arrangement with ING bank. Worldline will handle debit and credit card issuing and processing for the Dutch international bank across multiple countries, based on the agreement.
Under the extended deal, ING will outsource issuing processing operations to Worldline. Relying on its technology and knowledge, Worldline will help ING focus on its core expertise, ultimately supporting the bank’s growth ambitions.
ING operates its card issuing business in multiple countries and outsources issuing services of their business. Financial institutions often outsource card issuing and processing as it can be more efficient than managing it in-house.
Outsourcing such services allow them to better focus on areas of their business that provide added value for their customers, lowering their operational costs and maximising resources. Notably, some of the largest card issuers and processors in the world are non-banks, including Worldline, FIS, Fiserv, and Global Payments.
Partnering with Worldline, allows ING to provide its customers with an enhanced range of issuing solutions that are compliant with all regulations, on a local and global level.
Commenting on the deal, Alessandro Baroni, Deputy Head of Financial Services at Worldline, said, “ING and Worldline have been partners in various countries for over three decades. We are very proud that ING is not only prolonging this partnership but also extending the number of countries and services. By outsourcing card issuing processing services to us, ING can focus on creating value for their customers by re-inventing digital journeys. This agreement highlights Worldline’s unique position in being able to support banks in their outsourcing strategy. Not only the Netherlands but across Europe – and beyond.”
IBSi Daily News Analysis
June 09, 2023
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