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ING Taps Worldline for Multiyear Deal in Cards Issuing

Started by forex4you, Jan 31, 2023, 10:31 am

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ING Taps Worldline for Multiyear Deal in Cards Issuing

<p>ING Bank
N.V., the Dutch international bank, has announced a new multiyear agreement with
the payment services company Worldline to handle credit and debit card
processing and issuing.</p><p>Worldline to Issue Debit
and Credit Cards for ING</p><p>According
to the press release from Monday, Wordline will focus on supporting <a href="" target="_blank" rel="follow">ING's</a> issuing operations in the countries of Benelux and Germany. ING decided to
outsource the process to cut costs and increase efficiency while benefiting
from Worldline's know-how and technology.</p><p>"ING
and Worldline have been partners in various countries for over three decades.
We are very proud that ING is not only prolonging this partnership but also
extending the number of countries and services. By outsourcing card issuing
processing services to us, ING can focus on creating value for their customers
by re-inventing digital journeys," Alessandro Baroni, the Chief Business
Divisions Officer & Deputy Head of Financial Services at Worldline, said.</p><p>In
different markets, ING uses various payment companies for card issuing. In
Belgium, Germany and the Netherlands, the international bank decided to rely on
Worldline, providing customers with access to an extended list of issuing
solutions that fully comply with local and global regulations.</p><p>"This
agreement highlights Worldline's unique position in being able to support banks
in their outsourcing strategy. Not only the Netherlands but across Europe - and
beyond," Baroni added.</p><p>Watch the recent FMLS22 panel on trends defining 2023 in payment processing.</p><p>Wordline Reported 10%
to the most recent financial report from Q3 2022, Worldline reported 10% year-over-year
(YoY) organic growth in the three months ended in September 2022, with revenue
at €1,158 million. Merchant Services recorded the strongest revenue growth,
reaching € 828 million, compared to €729 million reported in the same period a
year earlier.</p><p>The result
is in line with that of the first half of 2022 when Worldline's revenues <a href="" target="_blank" rel="follow">grew
by 12.6% YoY to €2,020 million</a>. </p><p>"Worldline
executed a very satisfactory first half of the year with strong organic growth
of 12.6%, accelerating again in Q2, confirming, 18 months after the start of
the Ingenico integration, the power of our enhanced competitive positioning.
This performance was, in particular, reached thanks to the very dynamic growth
in Merchant Services with a steady expansion of acquiring volumes, a solid
merchants count deployment, and numerous new large merchant wins and
partnerships," Gilles Grapinet, Worldline's CEO, commented.</p><p>In H1, the
payment industry giant achieved several milestones, including closing the
<a href="" class="terms__main-term" id="3180494d-8751-4a02-9476-86dc1cd4d2e2" target="_blank">acquisition</a> of <a href="" target="_blank" rel="follow">Axepta Italy</a>. Then in July, <a href="" target="_blank" rel="follow">the company announced</a> the addition
of Italy's Banco Desio's merchant acquiring activities for $100 million.</p><p>Listed on
Euronext Paris, the company ended 2022 down 25%, but it is up 12% in the current
year. Worldline shares cost almost €41, bouncing off six-year lows tested in
early January.</p>

This article was written by Damian Chmiel at

Source: ING Taps Worldline for Multiyear Deal in Cards Issuing
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