Worldpay, a payment processing subsidiary of FIS, has secured domestic card scheme acquiring licenses in Argentina.

The move enables FIS to expand its global footprint in the Latin America (LATAM) market.

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With the card scheme acquiring licenses, Worldpay from FIS can deliver payment technology solutions to e-commerce merchants in Argentina.

Worldpay’s domestic acquiring capability will enable merchants to trade overseas via a single point of integration.

Initially, to acquire payments locally in the country, merchants had to work with one of two providers. However, recent regulatory changes have allowed new entrants into the country.

Worldpay is expected to be the largest global acquirer with a Visa and Mastercard domestic processing license in Argentina.

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The company will help merchants reduce cross-border transaction fees as well as mitigate bank delays.

Worldpay LATAM GM Juan D’Antiochia said: “It is an exciting time to enter Argentina’s e-commerce market where mobile commerce growth is accelerating faster than almost anywhere in the world.

“Not only will local sellers benefit from our leading geographic footprint enabling them to sell internationally more easily than ever, but the international market will also now have a faster route to sell to Argentine consumers.

“With our smarter payments technology and single point of entry for global merchants to operate around the world, our new domestic acquiring capability in Argentina expands on our promise to enable payments the world over.”