Revolutionising payments for our customers

At Worldpay it’s our business to ensure we’re always one step ahead when it comes to payments. This means keeping a close eye on the business landscape to find new ways to solve complexity for our customers. We now support over 400,000 businesses with a network that spans 146 countriesi. And we’re pioneering a payments revolution that will ensure those businesses are equipped to support the spending habits of tomorrow.

Investing in the future

Worldpay processes over 15 billion transactions each year, representing a total value of £451 billionii. But we’re also investing hundreds of millions in payments, to anticipate and capitalise on the latest trends to drive growth for our customers. It’s a focus that has seen us lead the way in ground-breaking technologies over the years, such as contactless and smartphone payments. “Tap and go” payments are now second nature to many consumers, with in-store mobile device spend topping £975 million last year.

Worldpay sits at the heart of a dynamic and complex ecosystem with a mission to drive success for our customers and advance the industry as a whole. Whether that’s helping SMEs expand online and into new global markets or developing new ideas and prototypes, we’re always moving forward.

So what are some of these new ideas?

Driving innovation

Worldpay is working on a series of innovations which could change the way we pay. These include:

Experiential technology: new platforms such as in-game Virtual Reality (VR) payments, offer fundamental changes to the ways consumers are used to interacting with brands.

Automation and Internet of Things (IoT): we’re working on pioneering IoT concepts which will transform payments in scenarios as diverse as gaming and car park metering. We’re also working on embedding payments into wearable and other smart devices to drive faster, more intuitive payments for consumers.

Identity: Worldpay is continually working to find new ways to protect cardholders from fraud, including social ID validation software and facial recognition systems.

Insights: our platform enables us to unlock insights generated from the billions of transactions we process each year to optimise payments and drive growth for our customers.

The UK is now a digital-first countryiii when it comes to payments. But we’re not stopping there. Consumers continue to demand faster, more seamless experiences with enough choice to pay via their preferred method. That’s why Worldpay will continue to innovate so you can offer your customers maximum choice to maximise your profits.

We can see a day in the not too distant future where consumers won’t even need a card or a device to pay. Instead, voice-based transactions will enable true anywhere, anytime purchases. You can rest assured that we’ll be there with you every step of the journey to take the pain out of payments and drive success for your business.

 

i Worldpay 2017 Annual Report

ii Worldpay 2017 Annual Report

iii https://www.theguardian.com/business/2018/jun/18/uk-debit-cards-transactions-overtake-cash-for-the-first-time