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Gloucestershire Business News

Popular payment processing service sold to US company

A UK digital payment processing company has been sold in a deal worth $43bn (£32bn).

WorldPay, which is used by a lot of businesses to process payments, has been bought by Florida-based Fidelity National Information Services (FIS) for $35bn in cash and shares, plus WorldPay's debt, as reported by the BBC.

FIS provides software for the finance industry, in addition to electronic payment services.

WorldPay used to be owned by Royal Bank of Scotland (RBS), but was sold as a condition of the bank's financial crisis bailout.

FIS said buying WorldPay would help it sell more services to banks and other financial firms.

The rise of financial technology firms, known as fintech, has seen them taking on banks in a bid for control of the digital payments market.

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