Global Payments Inc. (NYSE: GPN) and Amazon Web Services (AWS), an Amazon.com, Inc. (NASDAQ: AMZN) subsidiary, announced on Monday a new, multi-year partnership agreement to provide a cloud-based issuer processing platform to financial institutions around the world. As part of this agreement, Global Payments and AWS will strategically collaborate to transform Global Payments’ core issuing platform to deliver secure, innovative solutions for the payment industry at scale. Global Payments will work with AWS to build on AWS’s customer relationships, making innovative technologies available to institutions of all sizes worldwide and expand the customer base for Global Payments’ issuer processing services.
“We are excited to enter into this collaboration with AWS, which enables us to offer our solutions to institutions regardless of size, location or processing preference,” said Jeff Sloan, Chief Executive Officer, Global Payments. “The new platform’s cloud-based architecture will give clients the ability to use the services they need with greater speed-to-market, flexibility and best-in-class experiences for our customers and their cardholders. By strategically partnering with AWS, we can capitalize on the fintech and open banking movement, further expand our role in technology innovation, leapfrog existing distribution models and solidify our position as a leading provider of technology solutions for financial institutions, new market entrants, and retailers across the globe.”
Global Payments’ cloud-based issuer processing platform built on AWS will allow financial institutions of all sizes to more seamlessly operate the entire lifecycle of card issuance and management.
“We are excited to enter into this collaboration with AWS, which enables us to offer our solutions to institutions regardless of size, location or processing preference,” said Jeff Sloan, Chief Executive Officer, Global Payments.
Written by Nikita Medvedev.
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