Mergers and acquisitions are popular headlines in the payments ecosystem. The question most business owners think of when they hear of a big acquisition is “how will this impact me”? The $35 billion FIS acquisition of Worldpay certainly leaves many questions on the table about the future of the payment processing industry.
Consolidation across the payments market can have both positive and negative consequences — especially for companies that rely on massive corporations to handle their payment processing. Acquisitions can also have an impact on customer service as the newly expanded company gets logistics in order. With companies undergoing so much transition in customer service, it’s important to understand what’s happening when these mergers and acquisitions occur.
What You Need to Know about The FIS-Worldpay Acquisition
The FIS-Worldpay acquisition brings the companies combined annual revenue to roughly $12.3 billion. This acquisition is aimed at expanding FIS’ reach in the eCommerce market, but the company hasn’t provided extensive details as to how it will leverage Worldpay to achieve that goal. Given the fact that Worldpay has a global presence, it’s clear that FIS is looking to grow its international footprint. The question business owners should ask themselves is how this may impact their ability to achieve their own customer success goals.
Or, as author Penny Crosman wrote in American Banker: “A question that arises with any large tech company merger is, how distracting and time-consuming will the merger itself be, and will that take away from the companies’ ability to serve their existing customers?”
FIS’ leadership stressed in its press release that the company will be focused on customers but highlighted having a global presence and growth as the biggest benefits of the acquisition. Their team indicated that the synergy between these companies helps scale its global presence. FIS also recognized one possible risk being the possibility that “the integration of FIS and Worldpay will be more difficult, time-consuming or expensive than anticipated.”
Regardless of how well the acquisition is planned, businesses wondering how this might impact their payment processing should consider what type of relationship they want with their industry partnerships. With companies undergoing transition, customer service is likely to see a change and for the time being, it’s too early to tell what that change will be. One solution to this common problem is to instead, work with a company that has boutique-style customer service like goEmerchant. You might not get the big-name label, but there are perks that large corporations cannot deliver.
Why Businesses Benefit from Boutique-Style Payments Processing
The ability to provide top-notch customer service to your customers starts with the companies you do business with. Global corporations can certainly have their perks with plenty of bells and whistles and savvy-looking marketing decks. But the real power of any relationship is the ability to get on the phone with a customer service representative when you need it most.
Integrating payments processing can be complicated, but with the right partner, your team will be equipped with the necessary tools to be successful. Here are a few perks you get with a boutique-style payments partner like goEmerchant.
Round-the-Clock Support
With 24/7 tech support and practical assistance anytime you need help, a partner like goEmerchant provides guidance from start to finish. We provide award-winning, boutique-style live phone support for both technical and customer needs. Whether you’re just getting started or are a long-time partner and have questions, we’re here help and be a part of your team.
Easy and Affordable
There’s something to be said about simplicity. Simplicity in how our customer service representatives onboard clients, simplicity in payment tools, and simplicity in how you process payments. We are hyper-focused on providing efficient, cost-effective payment tools that won’t break the bank. We have flexible solutions to meet all your needs and understand that you need more than a one-size-fits-all approach.
Data When You Need It Most
GoEmerchant provides cloud-based analytics accessible from anywhere on any device that provides insight into your payment activity. You gain valuable information regarding where your payments are coming from and how your business is performing across each channel. Not to mention, we are as safe and secure as the bigger players on the block with our industry-leading end-to-end encryption within all our payment solutions.
Helping Keep Your Lights On
At goEmerchant, we believe in competitive pricing to fit your needs. We started from humble beginnings in the basement of a Five and Dime and we know what it means to build a business from the ground up. Today, more than 20 years after our inception, we remain committed to our vision. For any business, balancing day-to-day activities and payments can sometimes seem like conflicting priorities. That’s why we’re here to help. Whether you’re a startup or a large enterprise, an online store or retail location, we’re committed to making your payments side run smoothly so you can focus on what you do best – running your business.
Want to learn more? Click here to see how we can help provide your business with the best payment solutions and award-winning customer service.
