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The acquisition will allow FIS to go global at scale and includes new capabilities including digital and automated onboarding, compliance, billing and settlement, which will allow the firm to expand into new market segments, including SMB eCommerce.
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“Since acquiring Worldpay in 2019, FIS continues to expand its strategic payments capabilities and offerings in global e-commerce,” FIS President Stephanie Ferris said in the announcement. “Bringing the Payrix capabilities inside FIS enables us to continue our journey of serving e-commerce as well as platform companies.
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