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During this critical time, we are engaging with payment networks and industry advocacy associations to identify and lead activities that can help our customers and communities.
Work is underway to champion distribution of recently enacted US Federal disaster assistance across FIS and through our industry partners such as the Electronic Transaction Association. We are also leading efforts to mobilize industry response through groups such as P20 and UK Finance on a range of opportunities that will support our most impacted customers, including higher contactless transaction amounts and enhanced ways for consumers to pay.
FIS has long-standing, strong relationships with all major payment networks. As a key payments provider across multiple industries and the largest processor in the world, we work closely with Visa, Mastercard, Discover, American Express, UnionPay and other networks around the world to represent the interests and concerns of our customers. We are happy to report that payment network technical changes and cost increases originally scheduled for implementation in April are now deferred to mid-July, and we are in close contact with the payment networks to identify additional ways we can help our customers reduce complexity and cost during this unprecedented time – including steps to minimize the operational and financial impacts of increases in consumer disputes.
We will continue to keep you informed as we work to support you….
We have received reports of businesses being contacted by callers claiming to be representatives of a merchant services provider. These callers are telling merchants that their current provider is shutting down due to the COVID-19 situation. They proceed to tell the merchant they need to switch processors to continue accepting electronic payments.
If your business is targeted, please know that this is part of a scam and not legitimate. Worldpay will continue to be your trusted partner and support your payment processing needs.
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