Best Payment Service Provider (PSP)
WorldPay, a global provider of payment and risk services operating in more than 40 countries worldwide, is a Judges Choice award-winner in two categories this year: Best Payment Service Provider and Best CNP Program Outside the U.S. Having recently launched a suite of products to cover the whole payments process—from fraud maintenance to foreign exchange—the company says it is the only payment service provider to offer the full range of payment services required by merchants. With such a wide range of consumer payment methods available at a global level, WorldPay offers its merchants the luxury of accepting all major card schemes and numerous country-specific payment types.
Boasting a global network of more than 300 international banks and a unique payout system that allows merchants to pay their customers and suppliers with maximum efficiency, the company clearly has its merchants’ international payment needs in mind. Additionally, WorldPay says it takes significant measures to alleviate concerns about currency fluctuation by guaranteeing exchange rates up to three days in advance.
With the launch of Bankout—an alternative cross-border transfer service—in May 2013, the company says it has successfully merged “the breadth of [its] global reach with the speed and cost savings associated with domestic bank transfers,” and has the statistics to back it up: since Bankout’s introduction last May, 90 percent of the company’s cross-border payments arrive by the next day, and costs are reduced by up to 85 percent versus traditional international payment channels.
WorldPay’s e-commerce division reports that overall transaction volumes increased by 16 percent in 2013, and the turnover value for APMs increased by 44 percent from the previous year.