CINCINNATI and LONDON, October 10,
2018 /PRNewswire/ --
New disbursement solutions and wider
global reach enhance customer experience in increasingly prevalent
sharing economy
Worldpay, Inc., a global leader in
payments, has announced the launch of new dynamic payout solutions
that give multi-national eCommerce businesses more choices to
disburse funds to partners and customers - quickly, easily and
across country borders.
Worldpay's dynamic payout solutions combine the enhanced
Worldpay Bankout solution, which now delivers 154 direct bank
disbursement destinations (up from 65), and Worldpay FastAccess -
enabled by Visa Direct[1].
With these versatile payout options, partners and customers need
no longer wait for days to receive funds or refunds as they now can
obtain them via card in near real-time - through mobile wallet or
directly to a local bank account.
Bankout is an ideal solution for businesses needing to make a
large number of global payments to - or on behalf of - their
customers and suppliers. With 89 new local markets, Worldpay now
provides seamless cross-border payouts for businesses in local
currencies without the expense of making multiple international
bank transfers.
Dynamic payouts allow businesses to make faster, seamless
card-based payouts in near-real time within a maximum of 30
minutes[2]. Building on its launch in the United States last year[3],
FastAccess is now available to Worldpay customers in over 50 new
markets across Europe and
Asia.
A wide-range of industries benefit from these new flexible
payout solutions. For example, travel and tourism companies and
marketplaces can pay out funds to accommodation vendors or
disbursements to travellers in a variety of countries and
currencies; gaming businesses can provide near-instant payouts to
customers; insurance companies can save costs by replacing local
checks with bank transfers; and marketplaces can allow independent
sellers to retrieve funds more quickly.
Shane Happach, executive vice
president, Head of Global Enterprise eCommerce at Worldpay, Inc.,
said: "As more and more companies send payments at lower values,
cross-border, it will become a competitive differentiator to send
quicker payouts to consumers and inexpensive disbursements to
vendors and suppliers. It is estimated that by 2025, the sharing
economy will generate Europe-wide
revenues worth over €80bn and facilitate nearly €570bn of
transactions[4]. At the heart are seamless, transparent,
secure payouts, which can be made via card, mobile wallet or bank
transfer in any currency, anywhere in the world."
About Worldpay
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments
technology company with unique capability to power global
integrated omni-commerce. With industry-leading scale and an
unmatched integrated technology platform, Worldpay offers clients a
comprehensive suite of products and services globally, delivered
through a single provider.
Worldpay processes over 40 billion transactions annually through
more than 300 payment types across 146 countries and 126
currencies. The company's growth strategy includes expanding into
high-growth markets, verticals and customer segments, including
global eCommerce, Integrated Payments and B2B.
Worldpay, Inc. was formed in 2018 through the combination of the
No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc.
trades on the New York Stock Exchange as "WP" and the London Stock
Exchange as "WPY." Visit us at https://www.worldpay.com/global/
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1. Visa's global real-time push payments platform that allows
companies to leverage Visa's global reach and scale to transform
payments for businesses and consumers.
2. Actual fund availability varies by financial institution.
Visa in Europe has announced a
mandate that requires card issuers to enable real-time payments by
October 2018.
3. U.S. press release [
http://investor.worldpay.com/phoenix.zhtml?c=250843&p=irol-newsarticle&ID=2300601
]
4.
https://www.pwc.co.uk/issues/megatrends/collisions/sharingeconomy/future-of-the-sharing-economy-in-europe-2016.html