Worldpay Is a Merchant Services and Payment Processing Provider Offering a Payment Gateway for Online Transactions
The company is now known as ‘Worldpay from FIS’ since its acquisition. They are a leading global payments technology business with over 30 years of experience in merchant services and online processing.
Worldpay accepts payments via various methods, including credit/debit cards and ewallets, and offers merchants the ability to use 1) the Worldpay Payment Gateway for eCommerce and 2) Worldpay Card Machines – for POS, mobile, or virtual payments.
It’s also the UK’s most popular payment gateway and has more than 400,000 merchants across the globe using its services to start selling online. Customers include retail, restaurants, government, ecommerce, supermarkets, B2B, banks and credit unions.
What Does Worldpay Do?
Worldpay from FIS is an electronic funds transfer (EFT) system that allows customers to wire money around the globe using the SWIFT network. This method of payment is most commonly used in B2B transactions between companies based in different countries. However, it tends to be slower and more expensive than other commonly used B2B payment methods that global companies should consider. Worldpay payments are widespread across Europe and Asia, and can be used for both in-country and cross-border payments.
Are Worldpay, Vantiv, and FIS the same?
The company Vantiv changed its name to Worldpay in 2018, and then in 2019 WorldPay was acquired by Fidelity Information Services, more commonly called FIS. The company is now known as Worldpay from FIS. Despite the name changes, their payment products and services have largely stayed the same. So Yes all are same.
How Does WorldPay Work?
First, your business will need to register for a Worldpay from FIS account with your bank. Your business will then be assigned an International Bank Account Number (IBAN). You can use this number as if it were your own bank account number. When you have an IBAN, you can supply your Worldpay/FIS account number to customers. Customers then transfer money into the IBAN to complete a transaction.
The SWIFT system checks that transfers are made in compliance with international regulations before routing them to your bank account. However, it doesn’t offer any kind of security or fraud protection for the sender.
Is Worldpay Safe and Secure?
As stated above, Worldpay transactions are routed through the SWIFT network. But they also offer additional tools to protect your business from fraud and misuse.
The first is its compliance checking system that automatically stops any potential fraudulent payments before they reach your bank account – making sure that you’re never out of pocket if somebody tries to steal your money.
The second is its monitoring software. This provides you with real-time alerts that tell you when a payment has been made – and whether or not it’s legitimate. So if somebody tries to order from your store, but their credit card information doesn’t match the name on the card, for example, you’ll get an alert straight away. That allows you to prevent potential fraud before it starts, ensure high approval rates and help lower pesky chargeback fraud too.
What Products and Services Does Worldpay Offer?
Worldpay from FIS offers a number of different products for different payment needs. These include:
- Credit cards
- ATM processing
- Merchant services
- Rewards and fraud prevention
- Pre-paid and gift cards
- Card personalization
- Debit PIN processing
- Cardholder services
- Payment Processing
- Online Payment Solution.
- POS
- Mobile Payment Solution.
- Global and multicurrency Support.
- Fraud and Risk Management.
- Recurring Billing and Subscription Management.
- Integrated Payment Solution.
- Data and Analytics.
- Tokenization.
- Payment Security and Compliance.
As well as processing online payments, Worldpay also offers e-commerce software for merchants looking to start selling products online. This includes everything from shopping carts to secure payment gateways – allowing you to accept payments securely wherever they are in the world. There’s also a comprehensive reporting tool that can help you keep track of your sales and accounts, as well as an integrated card fulfillment service for businesses selling physical products.
Looking For a Better Alternative to WorldPay for B2B eCommerce Payments and Payouts?
The world of payment processing can be challenging to navigate with such varying features. While most payment processors like Worldpay will accept payments from other nations, some have restrictions about the merchants they can serve based on their home location.
Why not choose a payment gateway that covers all the bases and can be used across the globe? Rapyd Collect has all of the best features of the top payment processors around the world and offers quick payments, API-first functionality, fraud protection, multi-currency support, PCI compliance, and more.