Permanent tsb today announced that it is partnering with financial technology leader FIS (NYSE:FIS) to provide permanent tsb’s Business Banking customers access to the latest payments solutions via Worldpay from FIS’ global platform. Those customers will be able to apply for payments solutions through their local permanent tsb branch or via the business banking customer relationship advisor.
Digital payments have seen exponential growth over the past year, with Worldpay from FIS’ data showing contactless transactions increased over 25 per cent in Ireland last year, as a result of the pandemic. The Irish eCommerce market is projected to be worth almost €12bn by 2024, driven by a 47 per cent growth in mobile commerce.
It is important that businesses respond to this trend and the new agreement allows permanent tsb customers to do that. Worldpay from FIS provides exceptional multichannel payment experiences – however, whenever and wherever a merchant’s customers want to pay. As a leader in payments technology, FIS’ Worldpay platform processes over $2 trillion in transactions annually across over 100 countries in numerous payments types and currencies.
Commenting on today’s announcement, Jeff Harbourne, Head of Savings and Personal Banking at permanent tsb, said, ‘We are delighted to be partnering with Worldpay, enabling us to offer a flexible payment processing service to our customers. Worldpay offers a comprehensive suite of payment solutions across all payment channels allowing us to further support the growth of businesses. Today’s announcement is another example of permanent tsb’s ambition to grow our business banking business and offering better services and products for all business customers.’
Gabriel de Montessus, Head of International, FIS Merchant Services, said, ‘The past eighteen months have tested businesses around the world, forcing them to pivot operations and adapt to new ways of serving their customers, almost overnight. Many of the consumer habits learned during the pandemic are here to stay and businesses need to embrace digitalisation in order to meet these new expectations. We’re delighted to be working with permanent tsb to offer their business customers in Ireland smarter ways to take payments and to help fuel their growth during this period of recovery and beyond’
This partnership builds on a number of business banking partnerships that permanent tsb has announced over the last twelve months to enhance the product and service offering for business customers. These partnerships include participation in the SBCI Future Growth Loan Scheme, a partnership with Bibby Financial Services Ireland to offer invoice finance services for business banking customers, and a partnership with Digital Business Ireland supporting SME’s to transition their businesses online.