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Microsoft Corp. will significantly expand its processing arrangement with the big Worldpay unit of FIS Inc. to include the Americas, Europe, and Asia-Pacific under a new agreement announced Tuesday.
The agreement will support credit and debit card transactions Microsoft receives on online properties, including Xbox, Microsoft Advertising, and Microsoft Azure, as well as other brands, according to FIS’s announcement. The new arrangement comes as online commerce has increased markedly around the world since the onset of the pandemic early last year. E-commerce sales in the United States alone reached $222.5 billion in the second quarter, up 9.1% year-over-year, according to the Commerce Department.
The new deal represents an expansion of an existing agreement under which Worldpay has been processing for Microsoft in the Latin America region for the past seven years. The new agreement also includes some expanded services, FIS said, including an account updater functionality to ensure current card credentials and services to raise authorization rates and provide tokenized security.
Jacksonville, Fla.-based FIS has itself been a Microsoft client, using the company’s Azure cloud-computing service in 33 regions around the world. FIS acquired Worldpay in July 2019 in a deal valued at $43 billion.
