Technology company WorldPay has acquired the YESpay group of companies, a payments services provider, for an undisclosed amount.
WorldPay said it will leverage YESpay’s technology to offer its UK clients a complete payment service, including merchant acquiring, card processing and payment terminals integrated with point-of-sale (POS) systems. The combined service will allow WorldPay and YESpay customers to fully exploit the evolving needs of omni-channel shoppers with a single payment service operating in-store, online and on mobile.
On completion of the deal, WorldPay will acquire YESpay’s businesses and assets including payment platforms and technologies, its 150 employees, based in the UK, Canada and India and over 3,000 customer relationships.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
The EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.