LONDON, February 12, 2019 /PRNewswire/ --
Worldpay, Inc. (NYSE: WP) (LSE:
WPY), a leading global payments technology provider, and
Sage Pay, part of Sage Group (FTSE:
SGE), a market leader in cloud business management solutions, have
today announced a partnership that broadens the range of card
payment solutions available to businesses.
This partnership will open-up the
opportunity for businesses of all sizes to deliver cost effective,
simple and transparent card payments solutions. Furthermore, the
collaboration will help reduce time-to-trade for businesses, a
vital pre-cursor for success.
Currently, 17% of all invoices from
small and medium businesses are paid late in the UK and
Ireland*. The UK currently has the
highest proportion of invoices that are paid late, with 9% written
off as bad debt. The acceptance of card payments helps businesses
get paid on time.
Worldpay is a global leader in payments
processing technology and solutions, enabling merchants to accept a
vast array of payment types, across multiple channels, almost
anywhere in the world. Processing over 10,000 transactions per
minute, the company can service merchants 24/7 all around the
world, from sole traders who process small volumes through to large
corporates processing millions of transactions, daily.
Steve
Newton, EVP, UK and Europe, Worldpay, said:
"Worldpay is one of Europe's
largest payments processors and we are delighted to be partnering
with Sage to champion the needs of growing businesses across the UK
and Ireland. By partnering with such an established market
leader in business technology solutions, where we are unlocking the
power of digital payments for businesses of all sizes."
Seamus
Smith, EVP, Payments and Banking, Sage, said: "We know
it takes on average between 7 - 15 days for businesses to chase
payments every year - time they could spend growing their
business.
"By increasing the opportunities for
businesses to accept card payments, their customers can quickly pay
by card (or other digital payment methods of their choice), which
helps reduce the businesses' admin burden and the time it takes to
chase them up."
*Research: 'The Domino Effect: the
impact of late payments'; Sage, 2017.
Notes to editors:
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."
About Sage
Sage (FTSE: SGE) is the global
market leader for technology that helps businesses of all sizes
manage everything from money to people - whether they're a
start-up, scale-up or enterprise. We do this
through Sage Business Cloud - the one and only business
management solution that customers will ever need, comprising
Accounting, Financials, Sage Intacct, Enterprise
Management, People & Payroll and Payments & Banking.
Our mission is to free business
builders from the burden of admin, so they can spend more time
doing what they love - and we do that every day for three million
customers across 23 countries, through our 13,000 colleagues and a
network of accountants and partners. We are committed to doing
business the right way and giving back to our communities
through Sage Foundation.
SOURCE Worldpay
