Fidelity National Information Services®, Yodlee® and Western Union® Team to Deliver Integrated, Online Expedited Payments
Demand Grows for Revenue-Generating, Same-Day Payment Availability
JACKSONVILLE, Fla. - Fidelity National Information Services, Inc. (NYSE: FIS), a worldwide leader in processing and technology solutions for financial institutions, announced today it is teaming with money transfer leader Western Union (NYSE: WU) and leading online financial application provider Yodlee, Inc., to expand the value and capabilities of online bill pay for FIS customers and other leading financial institutions worldwide.
Through this relationship, FIS will integrate Yodlee PayToday™ - the leading expedited bill payment solution - into the FIS online bill payment solution, one of the industry's leading online bill payment solutions providing flexible, online payment options and delivering end-to-end electronic billing and payment solutions directly to customers' computers.
With the integration, FIS bill pay customers of any size will now be able to take advantage of the unique revenue-generating capabilities offered by Yodlee payments solutions and immediately begin to generate new fee-based revenue by offering customers the convenience of guaranteed, same-day electronic payments. The DirectPay solution from Yodlee enables interchange revenue-generating credit and debit card-based electronic bill payments for more than 400 top billers, giving consumers the freedom of choice of how and when they pay their bills.
Through its relationship with Western Union, PayToday customers have access to one of the largest same-day electronic payments network in the industry. Western Union's powerful and proprietary biller network includes hundreds of billers across multiple biller categories, including credit cards, mortgage, auto finance, insurance, utilities, cable and wireless.
“The capabilities Yodlee and Western Union bring to this same-day payment solution will help us increase our penetration into the online bill payment market, as well as deliver substantive new value for our existing customers,” said Anthony Jabbour, executive vice president for FIS Core Processing and eBanking.. “We're excited to incorporate Yodlee's proprietary same-day payments capabilities and Western Union's expansive payment and biller network into FIS Bill Pay and we're confident both expedited and card payments will be strategic priorities for the banking community in 2009 and into the future, offering our customers significant new revenue opportunities in this increasingly challenging economic climate.”
“We are thrilled to work alongside leaders like FIS and Western Union to make Yodlee PayToday more readily available to financial institutions in broader segments of the market,” said Bill Parsons, senior vice president of field operations at Yodlee. “The demand from consumers for more flexible and fast, online payments, and from financial institutions for new online revenue streams, make these innovative new payments capabilities a must-have in today's market.”
“Online banking is emerging as a critical new payment channel,” said David Shapiro, senior vice president, Western Union Payment Services. “The combined technologies and expertise of Western Union, Yodlee and FIS will bring high-demand, expedited bill payment services to billers, financial institutions and consumers, creating a winning solution for all parties.”
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE: FIS), a Fortune 500 company, is a leading provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS has processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500(R) Index and has been ranked the number one overall financial technology provider in the world by American Banker and the research firm Financial Insights in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 14,000 financial institutions in more than 90 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its Vigo and Orlandi Valuta-branded money transfer services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a combined network of more than 375,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.
Financial institutions trust Yodlee to power online banking applications that increase profitability and drive more value from the online channel. Yodlee's personal financial management, payments, and customer acquisition solutions deliver a simple, centralized and secure means for consumers to manage all of their financial tasks - anytime, anywhere. Yodlee makes financial institutions' sites essential to their customers and generates new revenue opportunities. More than 150 financial institutions and portals today offer Yodlee-powered solutions to millions of customers worldwide. For more information, visit www.yodlee.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.