Global Payments to boost fintech services with AWS partnership

Contactless payments and digital banking services "can all be done better, faster and cheaper in the cloud", says CEO Jeff Sloan

Tablet payment

Financial tech firm Global Payments has agreed a partnership with Amazon Web Services (AWS) to expand its global reach with the development of a cloud-based payment platform for card issuers.

As part of the deal, Global Payments will also tap into AWS services as its preferred cloud provider.

The cloud-based platform is described as a "processing service" for card issuers. It aims to give companies more access to technology-oriented services that could help them to deliver more modern consumer experiences and help accelerate feature improvements.

Global Payments CEO Jeff Sloan told MarketWatch that it could "level the playing field for large financial institutions" suggesting that innovations such as contactless payment options and digital banking services "can all be done better, faster and cheaper in the cloud".

He added that the arrangement with AWS was about "letting large financial institutions globally access the same technology that startups did."

"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," said Sloan.

"By strategically partnering with AWS, we can capitalise 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 will use a range of AWS services, such as storage, compute, database, security, analytics and machine learning to fulfil compliance requirements, enable new cloud-based services, and enhance customer experiences.

The two organisations will also work together to explore additional opportunities for collaboration on innovative payments products and services across all of Global Payments.

The partnership is another big win for AWS in the financial world. The company already works with CapitalOne, CoinBase and the National Bank of Canada, to name a few.

Featured Resources

2021 Thales access management index: Global edition

The challenges of trusted access in a cloud-first world

Free download

Transforming higher education for the digital era

The future is yours

Free download

Building a cloud-native, hybrid-multi cloud infrastructure

Get ready for hybrid-multi cloud databases, AI, and machine learning workloads

Free download

The next biggest shopping destination is the cloud

Know why retail businesses must move to the cloud

Free Download

Recommended

Buggy DeFi update mistakenly issues $90m worth of COMP coins to users
cryptocurrencies

Buggy DeFi update mistakenly issues $90m worth of COMP coins to users

1 Oct 2021
How the cloud is helping Currensea create a more sustainable future
startups

How the cloud is helping Currensea create a more sustainable future

6 Sep 2021
What does it take to launch a successful Fintech startup?
startups

What does it take to launch a successful Fintech startup?

12 Aug 2021
Visa to acquire cross-border payments expert Currencycloud
Acquisition

Visa to acquire cross-border payments expert Currencycloud

22 Jul 2021

Most Popular

Best Linux distros 2021
operating systems

Best Linux distros 2021

11 Oct 2021
Apple MacBook Pro 15in vs Dell XPS 15: Clash of the titans
Laptops

Apple MacBook Pro 15in vs Dell XPS 15: Clash of the titans

11 Oct 2021
Veritas Backup Exec 21.3 review: Covers every angle
backup software

Veritas Backup Exec 21.3 review: Covers every angle

14 Oct 2021