Worldpay, Inc Referral Arrangement with RBS (2427F)
October 26 2018 - 7:00AM
UK Regulatory
TIDMWPY
RNS Number : 2427F
Worldpay, Inc
26 October 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
FOR IMMEDIATE RELEASE
October 26, 2018
Worldpay, Inc.
Announcement - Referral Arrangement with The Royal Bank of
Scotland
CINCINNATI, October 26, 2018
Worldpay Inc. (NYSE: WP; LSE: WPY) ("Worldpay") announces that
Worldpay (UK) Limited ("Worldpay UK") and The Royal Bank of
Scotland ("RBS") have agreed to end their referral arrangement
during 2019. Under the arrangement, RBS exclusively refers
potential clients to Worldpay UK, and Worldpay UK sells
Worldpay-branded merchant acquiring and related services to these
referred clients. Following the conclusion of the arrangement,
Worldpay UK will continue to own the merchant acquiring
relationships for its existing portfolio of clients that were
previously referred by RBS.
Worldpay expects this agreement to have an immaterial impact on
its operational and financial results. Worldpay operates multiple
direct and referral-based distribution channels within the United
Kingdom (U.K.) as well as globally. In 2017, RBS provided referrals
that generated approximately $4.8 million in annualized net revenue
from new sales or approximately 0.1% of Worldpay's annualized total
company net revenue.
Worldpay expects its previously provided 2018 net revenue
guidance to be unaffected by this announcement and for the impact
on future revenue expectations to be similarly immaterial.
Pursuant to its obligations under the U.S. Securities Exchange
Act of 1934, as amended, a Form 8-K will be filed with the
Securities and Exchange Commission on October 26, 2018. A copy of
the Company's Form 8-K will also be available on the SEC's website
at http://www.sec.gov.
The Company will shortly submit the corresponding Form 8-K to
the National Storage Mechanism and they will be available for
inspection at: http://www.morningstar.co.uk/uk/NSM.
Enquiries
Worldpay, Inc. +1 513 900 4811
Nathan Rozof or Ignatius Njoku, Investor Relations +1 513 900 5308
Andrew Ciafardini, Corporate Communications +44 (0) 203 664
Claire Hardy, Corporate Communications 4902
Goldman Sachs International (U.K. Corporate Broker +44 (0) 207 774
to Worldpay, Inc.) 1000
Charlie Lytle
Tom Hartley
Adam Laikin
Smithfield (PR adviser to Worldpay, Inc.) +44 (0) 203 047
John Kiely 2538
Worldpay, Inc. LEI number: 213800TV56O7TZI4U902
About Worldpay, Inc.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments
technology company with unique capability to power global
integrated omni-commerce. With industry-leading scale and an
unmatched integrated technology platform, Worldpay offers clients a
comprehensive suite of products and services globally, delivered
through a single provider.
Worldpay processes over 40 billion transactions annually through
more than 300 payment types across 146 countries and 126
currencies. The company's growth strategy includes expanding into
high-growth markets, verticals and customer segments, including
global eCommerce, Integrated Payments and B2B.
Worldpay, Inc. was formed in 2018 through the combination of the
No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc.
trades on the New York Stock Exchange as "WP" and the London Stock
Exchange as "WPY."
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END
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