FIS™, the world’s largest provider of banking and payments technology, today announced that it has signed a multi-year agreement with Sodexo Motivation Solutions for FIS’ Cortex platform, which will be used to process Sodexo Motivation Solution’s Azure prepaid card. Under the terms of the agreement, FIS Card Processing Services will provide the processing of all Azure card transactions.
Part of the new Sodexo Motivation Solutions product portfolio, the Azure card is a limited use UK government-backed prepaid card. The Azure card will save the government money by replacing the previous paper voucher-based system, while at the same time making payments more secure and easier to manage.
FIS Card Processing Services supports debit, credit and prepaid card-based transactions, providing the necessary messaging and integration with payments industry compliance schemes. Based on flexible technology, FIS’ card processing services are built on a modern, open architecture to ensure long-term scalability, availability and performance. Using these solutions, FIS supports more than 70 customers throughout Europe.
“We chose FIS to launch our UK business because we were very impressed with the team’s knowledge of both prepaid cards and core banking systems,” said Iain McMath, managing director, Sodexo Motivation Solutions Ltd. “Because prepaid cards are a relatively new area for Sodexo, we needed to have the support of a trusted, experienced provider in order to ensure a successful launch. FIS has a track record of excellence and has consistently shown that it provides best-of-breed prepaid processing.”
“This new project is testament to FIS’ extensive expertise in this fast growing arena, and to our ability to take care of the entire end-to-end need for development, processing and administration of prepaid programmes,” said John Yeomans, general manager, Cards, FIS EMEA. “The Azure card is an innovative product that shows some of the true potential of the prepaid format. We look forward to working with Sodexo over the coming years to ensure the continuing success of this programme.”
Sodexo, world leader in Quality of Daily Life Solutions
Quality of Life plays an important role in the progress of individuals and the performance of organizations. Based on this conviction, Sodexo acts as the strategic partner for companies and institutions that place a premium on performance and employee well-being, as it has since Pierre Bellon founded the company in 1966. Sharing the same passion for service, Sodexo's 380,000 employees in 80 countries design, manage and deliver an unrivaled array of On-site Service Solutions and Motivation Solutions. Sodexo has created a new form of service business that contributes to the fulfillment of its employees and the economic, social and environmental development of the communities, regions and countries in which it operates.
FIS (fisglobal.com) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is ranked 426 on the Fortune 500, is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.854.3282, E: mary.waggoner[.]fisglobal.com.
Tony Martin, Portfolio Communications
P: +44 207 240 6959, E: tony.martin[.]portfoliocomms.com.