Worldpay from FIS expands its merchant business to South Korea

By Leandra Monteiro

Financial technology company, FIS® is continuing to broaden its global merchant services footprint, announcing that its Worldpay from FIS merchant solutions is now available in the rapidly growing market of South Korea.

Worldpay from FIS has partnered with Seoul-based TossPayments, a Korean merchant services platform which allows merchants to accept payments online and manage their business finances on a single platform, to offer access to domestic credit/debit card and APM acquiring services in South Korea.

Through this partnership, Worldpay from FIS will deliver payment services to global merchants looking to expand into South Korea. The expansion into South Korea is part of the company’s strategic plan to enhance its merchant acquiring presence in additional markets and expand its global capability. This comes on the back of its expansion into South Africa, Nigeria and Malaysia in 2021. Through the Worldpay product portfolio, the company processes over $2 trillion in transactions annually across more than 100 countries in numerous payment types and currencies.

Merchants entering South Korea will be able to take advantage of Worldpay’s advanced acquiring capabilities, including authorization, clearing and settlement, dispute management and data insights. Merchants will also benefit from a seamless payments experience through a single point of integration – helping to expand customer base, increase acceptance and improve customer experience.

“Korea has proven to be an increasingly attractive testing bed for latest trends in eCommerce due to it being an early adopter of innovation,” said Gabriel de Montessus, Head of International Merchant Solutions, FIS. “Markets across Asia including South Korea present fresh opportunities for global businesses, but to succeed locally, merchants need local understanding of consumer behavior to ensure success. Our new domestic acquiring capability in the country will ensure seamless integration into South Korea for global merchants and deepens our commitment to fuel smarter commerce across the world.”