Mobile Commerce

FIS Reports Increase in Revenue and Plans for EMV and Mobile Customers

FIS is starting 2014 with a strong quarter and is making plans to serve under-banked mobile customers.

In another strong quarter, Fidelity National Information Services, Inc. (FIS) was able to distribute almost 200 million cards and has seen a slow, but steady, increase of EMV.  The company has already spoken to its customers about EMV roll out across North America.

“We’re fully EMV-ready. We have no problem handling chip cards, in not only our software, but our card production locations,” FIS president Gary Norcross said.

The company reported that countries like India and Brazil are rapidly growing within the financial industry. In fact, Norcross said on the call that India is expected to drive $100 million a year in revenue.

Among the highlights during the earnings call, FIS announced that they are working to extend financial services for under-banked customers in Kansas.  A undisclosed financial intuition will launch FIS’s GenNOW solution in the state and will offer digital and reloadable prepaid cards for mobile customers.

"This solution provides clients with new sources of revenue by attracting and retaining customers who are increasingly turning to alternative financial services providers for their financial needs,” FIS President Gary Norcoss said on the call.

Even after the Target breach, Chief Executive Officer Frank Martire explained how that did not affect the rate of use of their NYCE cards.

For the first quarter of 2014, the company made $1.52 billion in revenue.



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