Source: Global Payments
Today, Global Payments Inc. (NYSE: GPN) and Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), announced a new, multi-year collaboration 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.
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. The company is also leveraging the proven scalability of AWS’s global infrastructure to support the rapid adoption of Global Payments’ issuer processing platform around the world, which today handles approximately 27 billion transactions annually.
Global Payments will rely on AWS as its preferred cloud provider for issuer processing and will use a range of AWS services, including storage, compute, database, security, analytics and machine learning to fulfill compliance requirements, enable new cloud-based services, and enhance customer experiences for its clients and their cardholders. In addition, Amazon and Global Payments will work together to explore additional opportunities for collaboration on innovative payments products and services across all of Global Payments.
“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 is a leader in the payments technology industry, and working together, we will provide solutions to organizations—from traditional financial institutions to emerging payment players—to simplify commerce, so they can focus on innovation and growth,” said Andy Jassy, CEO of AWS. “We look forward to working with Global Payments to bring payment issuer solutions to new geographic regions and more customers throughout the world. By leveraging the proven scalability and reliability of the world’s leading cloud, Global Payments is providing the tools for businesses to manage the card issuance lifecycle and transform the way that the payments industry operates.”