Published: 23/06/2016 - Updated: 23/06/2016 - Tags: Payment Methods
Worldpay is a British payment processing company headquartered in London.
Formerly known as Streamline, Worldpay was founded in 1989 as an “unattended” payments company that primarily handled mail and telephone orders. Through a number of mergers and acquisitions, Worldpay eventually gained the capability to process payments via the Internet as well.
Internet payments became part of Worldpay’s portfolio in 1994, two years after accepting international multi-currency payments. When Worldpay first began accepting online payments, it was one of only a few such companies in the world.
In August of 2010, Worldpay was purchased in a deal to provide financial aid to the Royal Bank of Scotland Group, which at this time owned a majority interest in Worldpay. Advent International and Bain Capital would purchase Worldpay for a hefty sum of £2.025 billion. Advent and Bain would each own forty percent of Worldpay, while RBS maintained twenty percent ownership. The sale was officially completed in December of the same year.
Quickly after the acquisition of Worldpay by Advent International and Bain Capital, Worldpay would acquire Cardsave. At the time, Cardsiave was one of the leading credit card processing services for small businesses located within the United Kingdom. In 2013, Worldpay purchased American payment processor Century Payments.
In October 2015, Worldpay made its initial public offering on the London Stock Exchange.
Worldpay Services and Features
Partnership Opportunities: Worldpay provides specialized assistance for all corporate partners wishing to simplify payment processing. Worldpay also assists in preparation to accept credit and debit card payments across a wide variety of global markets
Checkout Solutions: Worldpay assists larger businesses by creating specialized payment methods that are both fast and secure to increase customer satisfaction with the transaction.
eCommerce Expertise: Worldpay lends its expertise in online transactions to help online businesses maximize transaction success, increase the number of users that are able to utilize the site’s payment method in addition to minimizing the risks and costs associated with a purely online approach to sales.
Worldpay security adheres to the Payment Card Industry Data Security Standards (PCIDSS). While these standards are frequently updated and can vary depending on the size of the business that Worldpay is servicing, the compliance team at Worldpay works to ensure that all standards are strictly adhered to in every partnership the company takes part in. Compliance goes a long way in preventing a data breach. However, Worldpay does offer optional encryption and tokenization services to its clients at an additional fee.