Worldpay will provide the exchange with “card-to-crypto” services while providing better fraud monitoring and analytics
in 2019, the leading provider of technology solutions FIS acquired the payment processing company Worldpay. Now, FIS announced yesterday that Worldpay has been selected by OKCoin to provide the exchange with its services and thus support its global expansion.
Worldpay will provide OKCoin with global merchant acquiring and Forex trading services. This is to make it easier for customers to buy cryptocurrencies with credit and debit cards. This results in high authorization rates for the exchange as well as better reporting, fraud monitoring and analytics.
Jason Pavona, General manager for North America at Worldpay Merchant Solutions of FIS, said:”Worldpay has extensive experience in guiding cryptocurrency exchanges through the complex global payment ecosystem. Over the past eight years, we have worked with some of the largest crypto exchanges in the world, developing solutions to enable card payments and withdrawals for consumers through crypto exchanges. Interest in cryptocurrencies has never been so great, and it is now more important than ever to make crypto exchanges more accessible to consumers through global “card-to-crypto”payments.“
Half of the top ten crypto exchanges already use FIS. The company processes more than $ 2 trillion worth of transactions annually and enables various payment methods in different currencies in over 100 countries. Earlier this month, MoonPay, a provider of crypto payment infrastructure, also opted for Worldpay from FIS to give more developers the ability to accept payments for cryptocurrencies and non-fungible tokens (NFTs).
OKCoin allows users to purchase more than 25 cryptocurrencies with fiat, with the exchange’s staking and defi offerings allowing them to earn more on their assets. With offices in Hong Kong, Singapore, Japan, Korea, Malta and San Francisco, OKCoin already serves 190 countries and wants to penetrate new markets through its partnership with Worldpay.
Jason Lau, COO of OKCoin, added: “Our mission is to enable a seamless transition between local currencies and cryptocurrencies. Thus, we want to expand the global ecosystem and offer intuitive products, with which our customers can easily participate in the crypto economy. Thanks to Worldpay’s extensive industry experience, we achieve this goal by making card payments in all other markets. By activating new markets and local currencies, the development of new payment channels will play a key role in our growth as well as for the entire cryptocurrency industry.“