FinTech FIS said it’s launching a software-as-a-service (SaaS) solution to let smaller businesses get access to embedded payments and finance solutions through software providers, a press release emailed to PYMNTS said Tuesday (Sept. 13).
Called Worldpay for Platforms, it will add embedded payments technology built on the platform, through FIS’s acquisition of Payrix.
Software companies will be able to onboard merchants and get them set up quickly to get payments access through Worldpay from FIS. The release says small to midsize businesses (SMBs) will now be able to accept hundreds of currencies and payment methods for online, mobile and point of sale transactions. There will also be ways for the companies to manage subscriptions, billing and invoices.
“In today’s digital-first, on-demand economy, software companies need to provide broader experiences to their users, these merchants rely on technology providers to power their mission-critical business management and commerce solutions,” said Matt Downs, group president of platforms, FIS. “Early adopters of embedded payments include ride sharing and delivery companies that allowed customers to easily pay for rides and deliveries through a single app experience. We are powering experiences similar on a broader market.”
He added that the goal of Worldpay for Platforms is to digitally enable software companies “to create unique experiences for their users and consumers.”
FIS has also recently introduced a new solution for central banks in various countries to update their real-time payment networks or make a new one entirely, PYMNTS wrote.
Called the RealNet Central infrastructure payment solution, it will help countries embrace “digital, real-time inclusive economies.” Real-time payment schemes have been replaced or updated in various places, including in Brazil, the U.K., Japan, South Africa and Mexico. India and the U.S. also have plans for services to run parallel to established schemes.
FIS is also rolling out a central bank digital currency Virtual Lab, allowing banks and various financial entities a way to experiment with CBDCs, launch pilots and speed up implementations of CBDCs.