Worldpay, Inc.

Worldpay, Inc.

Company type	Public (formerly)
Industry	Financial technology, Payment processing
Predecessor	Midwest Payment Systems (MPS)
Founded	1971
Headquarters	Cincinnati, Ohio , United States
Area served	Worldwide (146 nations)
Products	Payment processing, Merchant services, Financial services
Owner	GTCR (55%), FIS (45%)
Number of employees	8,500 (2024)

Worldpay is a global American firm specializing in financial technology and payment processing, catering to merchants and financial institutions around the world. It facilitates approximately 40 billion transactions annually, operating across 146 nations and supporting 135 different currencies.

Generating $4.9 billion in revenue in 2023, Worldpay stands as one of the top non-bank merchant acquirers, managing $2.2 trillion in transactions each year. The organization employs around 8,500 staff members and is headquartered in Cincinnati, Ohio, with its international headquarters located in London alongside 40 offices spread over 25 countries. As of February 2024, ownership is divided between GTCR holding 55% and FIS holding 45%.

Worldpay serves a broad spectrum of merchants including sectors such as retail, dining, government, e-commerce, supermarkets, pharmacies, B2B, and consumer services. Its financial institution clientele comprises regional and community banks, credit unions, as well as PIN debit networks.

History

Midwest Payment Systems (MPS) was founded in 1971 by Fifth Third Bank to offer Electronic Funds Transfer (EFT) services. In 1977, MPS introduced Jeanie, the pioneering shared online ATM network. By 1991, MPS had expanded its offerings into Merchant Services. The year 2000 saw MPS acquiring Integrated Delivery Technologies, Inc. (IDTI), Cartel Network, and ACI Merchant Services.

In 2003, MPS rebranded itself as Fifth Third Processing Solutions and further enhanced its processing capabilities by acquiring Card Management Corporation (CMC) in 2006. In 2009, it separated from Fifth Third Bancorp to form a joint venture with Advent International.

Between 2010 and 2011, the company acquired TNB Card Services, National Processing Company (NPC), and the prepaid platform assets of Springbok Services. It rebranded as Vantiv in June 2011 to prepare for an initial public offering (IPO). Vantiv debuted on the NYSE in March 2012 under the symbol "VNTV".

In December 2012, Vantiv purchased Litle & Co. for $361 million to strengthen its e-commerce payment processing portfolio. By April 2013, Vantiv became the first U.S.-based acquirer certified to process EMV transactions for MasterCard brands at both ATMs and point-of-sale terminals.

The company continued its expansion by acquiring Element Payment Services in July 2013, a provider known for PCI DSS compliant integrated payment solutions. In May 2014, Vantiv announced a $1.65 billion acquisition of Mercury Payment Systems LLC. Later in November 2016, it acquired the U.S. operations of Canadian payment processor Moneris Solutions.

In July 2017, Vantiv declared a $10.4 billion acquisition of British-based Worldpay, forming a combined entity headquartered and publicly traded in the U.S., while maintaining operational centers in the U.K. This transaction finalized in January 2018 with the merged company adopting the name Worldpay, Inc.

Worldpay pursued further growth by acquiring Pazien, a U.S.-based payments data platform startup, in July 2018. In March 2019, FIS announced its $43 billion acquisition of Worldpay—the largest transaction ever recorded in international payments—which was completed by June 2019 with Worldpay integrated into FIS.

In November 2020, Worldpay entered the Argentine market by obtaining licenses to acquire domestic card schemes.

Facing pressure from activist investors, FIS revealed plans in February 2023 to spin off its merchant business including Worldpay within a year. Subsequently, in July 2023, private equity firm GTCR agreed to acquire a majority stake of 55% in Worldpay from FIS for $11.7 billion, valuing the enterprise at $18.5 billion.

As of February 2024, Worldpay officially separated from FIS to regain independent status and is currently co-owned by GTCR (55%) alongside FIS (44%).

Solutions

Worldpay provides customized payment options designed to meet the needs of diverse platforms, business owners, and corporations. In May 2024, the company introduced a tap-to-pay capability for iPhone, allowing merchants to accept contactless payments securely via credit and debit cards, Apple Pay, and various other digital wallets.

Financial institution relationships

Collaborating with more than 1,400 financial institutions—including upwards of 700 credit unions across the U.S.—Worldpay delivers advanced payment solutions and technologies. Its suite of financial services includes credit card offerings, ATM processing, merchant services, rewards programs, fraud detection, prepaid and gift card solutions, card personalization, debit PIN management, and cardholder electronic services. Handling in excess of 33 million debit cards, Worldpay facilitates over 15.7 billion transactions each year, solidifying its strong position and competitive edge within the payment processing sector.