Early this month Fidelity National Information Services (FIS) announced results that gave an overview of the company, and Worldpay, its newly obtained asset as separate firms. The report also gave an overall viewpoint for the combined-company.
The payment giant gave special attention to real-time payments and filling the existing gaps in the online marketplace.
Fidelity National information Services said its inorganic revenues were approximately $2.1 billion YOY, while its organic revenue went up 5%.
Here is how FIS’s other major businesses performed.
FIS said it is confident it will attain its announced target of $500 million in both yearly savings and revenue synergies.
According to the FIS Chief Executive Officer, Gary Norcross, the takeovers gave the company an opportunity to offer flawless end-to-end experiences. He also noted that the FIS had entered a multiyear contract with a banking institution with assets worth $35 billion to invest in its Digital One item processing.
The combined-company recorded a 6% jump to $3.2 billion. The merger should boost up FIS’s organic expansion rate to 6 % from 4% according to the FIS.
“We anticipate revenue synergies in future months which will drive organic revenue towards 7 percent by 2020, and later to 9%,” FIS CEO said.
The combined-business will be split into three divisions (1) merchant solutions, (2) banking solutions, and (3) capital market solutions. Worldpay will represent FIS’s merchant solutions according to Norcross, and retailers will get in touch them through the worldpay contact number.
Commenting on the future rate of revenue growth of these three business categories, Norcross said they are predicting growth as follows;
“We are confident revenue synergies will kick in both in the merchant service and bank solutions businesses in the coming few years. So far, we are happy with the expansion we’ve experienced in both categories,” added Norcross.
Fidelity National Information Services (FIS) is not the only payment company making huge merger deals to expand its bottom line and streamline instant payments. MasterCard recently announced a 3.2 billion transaction to take over Nets group and the Federal Reserve is also launching its faster payments solution.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry has helped thousands of business owners save money and time.