LONDON, November 13, 2018 /PRNewswire/ --
New deal set to speed up
access to small business banking services
and payments technology
Worldpay, Inc. (NYSE: WP) (LSE: WPY), a
leading payments technology company and CYBG, the UK's largest
challenger bank have agreed a new five-year referral partnership
bringing Worldpay's payments technology to CYBG business
customers.
The extended agreement gives business
customers of Britain's sixth
biggest bank access to a full suite of Worldpay's payments
products; from traditional and mobile POS solutions to online
gateway products, as well as to its leading omni-channel payments
technology[1]. CYBG business customers will now also be
able to access additional services through the partnership,
including Worldpay's business insight tool Worldpay Business
Dashboard, which harnesses the power of payments data to help
optimise their business operations.
Leveraging the companies' national
scale, the new deal seeks to speed up the time it takes for UK SMBs
to access the right technology and services needed to set up and
run their business. Supporting CYBG's digital strategy, Worldpay
will extend its payments technology to help deliver integrated
payments services for the UK's dynamic small business sector.
Through the use of APIs, CYBG and Worldpay will also create a
seamless experience for new business customers, giving them quicker
access to payments technology to get them selling faster.
Steve
Newton, Executive Vice President, UK & Europe, said: "Over the past few years we've
witnessed a really positive focus on the digital transformation of
retail banking services in the UK -it's imperative that financial
services available to small business are not left behind by this
revolution. CYBG's dedicated and industry leading services are
vital for driving these changes across the British economy."
He added: "Worldpay is committed to
serving the needs of UK SMBs and helping them achieve their
business ambitions. Through our ecosystem of partners who share our
vision, Worldpay aims to reach more small businesses, giving them
access to the latest payment technology-enabled tools and services
to succeed."
Gavin
Opperman, Group Customer Banking Director, said: "The
completion of this new agreement marks the next phase of our
partnership with Worldpay and the provision of merchant services to
our customer base is an important cornerstone of our business
offering as a full-service challenger bank. As well as enhancing
the services available for existing customers, this will also
benefit customers who change their banking provider once the RBS
Business Bank Switch Scheme launches in February 2019. This is a significant opportunity
to increase competition in SMB Banking and the introduction of
these additional payment products with Worldpay further boosts our
technology offer."
Worldpay processes over 40 billion
transactions annually through more than 300 payment types across
146 countries and 126 currencies. In the UK, the company supports
over 300,000 small businesses offering them payments technology and
services to help them grow their business and sell more.
CYBG PLC is the UK's sixth biggest Bank
offering a true alternative to the status quo in banking. Operating
under the Clydesdale Bank, Yorkshire Bank, B and Virgin Money
brands, ambition is to offer the best service in UK banking,
providing customers with market-leading functionality and
innovative products, supported by robust technology and a
first-class personal customer experience. Now the UK's sixth
biggest bank, we boast genuine full-service retail and SMB
capabilities. We offer a true alternative to the status quo in
banking.
References:
1. The Forrester Wave™: Global
Merchant Payment Providers, Q4 2018
About Worldpay
Worldpay, Inc. (NYSE: WP; LSE: WPY) is
a leading payments technology company with unique capability to
power global omni-commerce. With an integrated technology platform,
Worldpay offers a comprehensive suite of products and services,
delivered globally through a single provider. Worldpay processes
over 40 billion transactions annually, supporting more than 300
payment types across 146 countries and 126 currencies. The company
is focused on expanding into high-growth markets and customer
segments, including global eCommerce, integrated payments and B2B.
Visit us at www.worldpay.com
About CYBG
CYBG PLC is the UK's sixth biggest bank
offering a true alternative to the status quo in banking. Operating
under the Clydesdale Bank, Yorkshire Bank, B and Virgin Money
brands, we are the only Bank outside the 'Big 5' that boasts a
genuine full-service retail and SME capability.
We serve over six million customers
across the UK through an omni-channel model of online, mobile and
telephone banking and we have a national network of 250 branches
and business banking centres.
Our ambition is to offer the best
service in UK banking, providing customers with market-leading
functionality and innovative products, supported by robust
technology and a first class, personal customer experience.
In February
2016, we completed our IPO from National Australia Bank,
regaining our independence for the first time in almost 100 years.
CYBG completed the acquisition of Virgin Money on 15 October 2018, enhancing the Bank's scale and
national footprint.
For more information
please contact:
Worldpay, Inc.
Claire
Hardy
claire.hardy@worldpay.com
+44-(0)203-664-2117
Siobhan Acha
Derrington
siobhan.derrington@worldpay.com
+44-(0)203-664-4822
Rebecca
Mansfield
rmansfield@golin.com
+44-(0)20-067-0855
CYBG Plc
Christina
Kelly
christina.kelly@cybg.com
+44-(0)7748-490-5358
