UK-based Trust Payments has signed a new long-term agreement with Fiserv to support its growth as well as global expansion plans.
The latest agreement extends the existing collaboration between the companies, which started in 2012.
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The British fintech start-up will leverage this new partnership to offer its clients with on-demand payment capabilities, aided by acquiring-as-a-service (AqaaS) capabilities from Fiserv.
The AqaaS allows financial technology companies to become merchant acquirers, allowing them to accept card payments for their own clients.
Fiserv vice president of acquiring-as-a-service Adam Bowman said: “Enabling card payment acceptance is a must for any company looking to include payments as part of their services mix. And, for fintechs offering payment acceptance, the selection of a processing partner is critical, as their advice, experience, flexibility and reliability have a strategic impact on business operations and growth.
“Trust Payments is one of the industry’s most dynamic payments players, and we are proud to extend our relationship with them as they accelerate their growth and serve even more businesses.”
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By GlobalDataTrust Payments noted that it is registered a 73% surge in total revenues in 2021, as greater number of merchants are opting for digitisation of payments and commerce.
Trust Payments CEO Daniel Holden said: “Trust Payments has had a successful, long-standing relationship with Fiserv and is delighted to further extend this partnership based on the proven Fiserv track record of supporting acquirers at scale.
“With this extension, Fiserv will deliver the next generation payment processing capability necessary to support Trust Payments’ growth for years to come.”
Notably, Trust Payments is among one of the first companies to leverage the Fiserv suite of API-enabled services.
Holden added: “Fiserv has demonstrated its commitment to invest in its technology and processing services in the coming years, which will be pivotal to Trust Payments’ delivery of data and services to our clients via on-demand APIs and SDKs.”
