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UK fintech group Trust Payments has expanded its partnership with Nasdaq-listed payments technology company, Fiserv, to utilise the latter’s acquiring-as-a-service capabilities.
The multi-year service agreement builds on the duo’s existing collaboration since 2012 and will enable Trust Payments to utilise Fiserv’s resources to provide clients with on-demand payments.
“Enabling card payment acceptance is a must for any company looking to include payments as part of their services mix,” said Adam Bowman, VP of acquiring-as-a-service at Fiserv.
“And, for fintechs offering payment acceptance, the selection of a processing partner is critical, as their advice, experience, flexibility and reliability have a strategic impact on business operations and growth.”
The latest partnership boosts Trust Payment’s existing acquiring services business, which in February was adopted by Maltese private Bank, APS, to enable its customers to offer merchant acquiring and e-commerce services.
The collaboration with Fiserv will also support Trust Payments’ growth and global expansion plans.
“With this extension, Fiserv will deliver the next generation payment processing capability necessary to support Trust Payments’ growth for years to come,” said Daniel Holden, CEO of Trust Payments.
Trust Payments’ global expansion plans have seen the company establish new partnerships and acquire companies to expand its services into other territories.
In February, Trust Payments partnered with technology groups Modulr and Ripple to enable real-time payment capabilities in the European market.
In March, the company announced the acquisition of the US e-commerce platform, Stor. Subsequently, the company utilized the target’s technology to launch an e-commerce platform that enables ISO, banks and other third parties to sell Stor direct to merchants in the USA.
Trust Payments’ effort to strengthen its acquiring services comes as global payments groups have been looking to boost their acquiring offerings.
Only last month, Chinese payments start-up, PingPong, boosted its acquiring services capabilities by teaming up with BNP Paribas.
That same month, Nasdaq-listed EVO Payments acquired North49 Business Solutions, the development partner of business management software provider, Sage, to provide Sage users with gateway and acquiring services.
Prior to that, the payment group had acquired 51% of the National Bank of Greece’s merchant acquiring business for €158 million.
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