What does FIS (WorldPay) Merchant Solution offer?
FIS, formerly known as WorldPay, offers a direct solution for payment processing in more than 40 countries. The main countries in which WorldPay focus includes the UK and Europe. FIS usually provides payment processing solutions processed via debit or credit cards. Moreover, the Company offers POS systems, EMV terminals, payment gateways, mobile wallets, and similar services to all types of business, ranging from micro to macro-business. The enterprise-level businesses can also benefit from the FIS’s services, such as B2B and B2C.
|Overall Summary of FIS (WorldPay) Merchant Solution’s Services|
|Headquarter||Symmes Township OH|
|PCI fee||25$/ annually|
Origin, Headquarters, and Owner:
This global payment gateway platform was first launched in 1989, and the Company offered internet-based payment gateway solutions till 1994. Vantiv and FIS faced a merger in 2018, and the Company became a giant payment processor and came out as WorldPay INC. the Company expanded enough to be called Global Merchant. FIS acquired WorldPay, and the Company has scaled enough to provide services all over the globe.
Charles Drucker is the current president and CEO of the Company, and the Company is currently headquartered in Symmes Township, OH.
FIS (WorldPay) Solution Offers:
FIS, formerly called WorldPay, formerly known as Vantiv, is a payment processing platform that can integrate with the 3rd part bookkeeping and POS software to offer unmatched services. Here is what FIS has to offer to the businesses and merchants:
The first service that FIS delivers effectively is the merchant accounts which made the FIS a direct processor. This means that the Company provides merchant accounts itself, and all the transactions will be made in-house rather than any 3rd party processor.
Terminals and Gateways:
The Company focuses on providing a solution that fills the gap between the POS system and the traditional payment gateway system called “Smart Terminals.” These terminals are unique compared to the ordinary ones in the market, and their larger colorful touchscreen is the distinguishing feature. A Plnety of benefits can be acquired, including inventory management, employee scheduling, and SmartPay attributes.
Credit Card Terminals:
Businesses that need EMV and NFC-based payment gateways can acquire FIS services. The FIS is also motivated to provide outstanding credit card terminals gateways. However, the pricing is not mentioned on the website, and you’d only know when you’ll order the terminal.
The last but not the least terminal FIS offers for entry-level and enterprise-level businesses is the virtual terminal. This way, any digital device such as an iPad and laptop can be transformed into a credit card terminal. The USB-enabled card reader can feed in the transaction details.
The Company will provide the 3rd party POS system software to manage the transactional details. Moreover, the FIS also has packages for e-commerce businesses and merchants. The Company has already sealed a contract with BigCommerce and many others to build their shopping cart. The brand’s payment system will be integrated with the FIS.
Frauds and scams are essential to deal with in any payment gateway for a business. FIS (formerly called WorldPay) offers services such as Omnishield Assure featuring EMV assurance, point-to-point encryption, PCI compliance services, and more. The insurance will cover a cost of $100,000 or more.
How much does FIS (WorldPay) Merchant Solution Cost? [Fees and Charges]
The Company’s website has been changed since the FIS acquired WorldPay’s shares, and now the pricing information is not disclosed on the website. You can always take a quote from the Company for your customized plan or business by clicking on the “Get Started” button on the website. Moreover, it is recommended to avoid the third-party agents and contact agencies and instead get a direct quote yourself.
The Quote Generator can offer pricing and all related information fully customized based on your business details. This is to ensure that the pricing you’ll get suits your business and do not include a tiered or over-priced plan.
Contract Length or Termination Fee:
FIS offers a three-year contract similar to all payment processing companies and automatic renewal. The Company also charges the termination fee once you discard any contract in-between. The cost varies as per the location and the time of the termination. $295 will be charged if early termination occurs one year after the agreement.
Negative Reviews and Complaints:
The Company has acquired a C rating, and the Company is BBB. Being a BBB-accredited company with a “C” rating is unusual and odd. The Company has 450 complaints and among which the 250+ complaints are for the services, while the 200 complaints correspond to the fees and billing. The better business bureau has rated the Company as B- in 2010, and the rating still goes down due to an immense number of complaints in 36 months.
Has Company Faced any Fines? [Lawsuits and Fines]
On May 1, 2019, an Action-Lawsuit was filed the WorldPay again by Halper Sadeh due to the misleading information in the agreement. The firm also stated that WorldPay lies about the shareholder’s information and misled the financial projections.
FIS, formerly called WorldPay, has many positive sides as it is a “direct payment processor” offering comprehensive services for entry-level to enterprise-level businesses. But the Company’s reputation is ruined with over 400 complaints in past few years and an overall “C” rating. Moreover, the Company’s misleading information regarding the shareholders, contracts and other details has already broken the consumer’s trust.
(877) 77603706 – Toll-Free General Customer Service
+44 20 8081 3840 – Europe, Middle East, and Africa
+63 2 8802 6299 – Asia-Pacific