New payment ecosystem to expand networked commerce and provide an integrated suite of digital functions
ATLANTA, September 08, 2021 – (BUSINESS WIRE) – Global Payments Inc. (NYSE: GPN), a global leader in payment technology and software solutions, and Virgin Money, one of the UK’s leading financial services groups, today announced an agreement to leverage Global Payments’s unique two-sided network to deliver market-leading digital payment experiences to Virgin Money customers worldwide.
This press release contains multimedia. Check out the full version here: https://www.businesswire.com/news/home/20210908005232/en/
The companies announce that they are working on the launch of a new connected payments offering that will bring a seamless experience for Virgin Money consumers and merchants. This new salary offering would expand trading and provide an integrated suite of digital skills.
“We have an unmatched global position that connects both sides of the payments ecosystem and enables us to completely transform the digital commerce landscape,” said Jeff Sloan, chief executive officer, Global Payments. “This new payment solution will reimagine the entire interaction between merchants and their customers, virtually and physically, in order to reduce friction, create added value and promote extraordinary experiences on an omnichannel basis.”
“Expanding our partnership with Global Payments enables us to bring all of our credit and debit cards together on a single platform. Working together allows us to leverage their expertise across the payment ecosystem, combined with our focus on customer experience and being one of the world’s best-known brands, gives us the ability to develop new digital payments offerings to enhance the experience for our millions of private and Business customers as we continue to transform the status quo of UK banking, “said David Duffy, Chief Executive Officer of Virgin Money UK.
Virgin Money will be able to access end-to-end lifecycle data through the new payments offering in its companies to gain better insights into buying patterns and trends in order to bring new products and services to market that directly meet customer needs and which Improve the customer experience journey.
The story goes on
As part of this partnership, Global Payments will act as the exclusive trading services provider for Virgin Money, offering cutting-edge acquiring technology to its large customer base. In addition, Global Payments will expand its longstanding relationship with Virgin Money through its TSYS Issuer Solutions segment. This will create a single unified platform that will add all of Virgin Money’s debit business to its current credit solutions under a new agreement that extends into the next decade, subject to regulatory approval.
About global payments
Global Payments Inc. (NYSE: GPN) is a leading payment technology company providing innovative software and services to our customers around the world. Our technologies, services and the expertise of our team members enable us to offer a wide range of solutions that enable our customers to run their business more efficiently through a variety of channels around the world.
Global Payments, headquartered in Georgia and with nearly 24,000 team members worldwide, is a Fortune 500® company and a member of the S&P 500 with global reach in over 100 countries in North America, Europe, Asia Pacific and Latin America. For more information, visit www.globalpayments.com and follow Global Payments on Twitter (@globalpayinc), LinkedIn and Facebook.
Via Virgin Money UK
Virgin Money UK is a full service digital bank serving 6.5 million customers across the UK. It offers market-leading products and services to meet the full range of customer needs in private and business customers. Virgin Money aims to provide customers with a consistently first class experience through its leading technology platform, telephone banking and a national network of innovative stores and commercial banking centers. By improving its banking business, Virgin Money seeks to serve its purpose of “making you happier with money.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20210908005232/en/
Winnie Smith 770.829.8478
Richard Smith +44 7483 399 303
Emily Edmonds 770.829.8755
Simon Halle +44 7855 257 081