IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

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

Hand holding an assortment of credit cards

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

Four strategies for building a hybrid workplace that works

All indications are that the future of work is hybrid, if it's not here already

Free webinar

The digital marketer’s guide to contextual insights and trends

How to use contextual intelligence to uncover new insights and inform strategies

Free Download

Ransomware and Microsoft 365 for business

What you need to know about reducing ransomware risk

Free Download

Building a modern strategy for analytics and machine learning success

Turning into business value

Free Download

Recommended

What is Amazon S3?
Amazon S3

What is Amazon S3?

16 May 2022
EDB unveils world-first openly governed Kubernetes Postgres operator
Cloud

EDB unveils world-first openly governed Kubernetes Postgres operator

13 May 2022
How the cloud primed Markerstudy for an M&A spree
Cloud

How the cloud primed Markerstudy for an M&A spree

9 May 2022
Gaia-X: The last chance saloon for Europe’s visionary cloud project
Cloud

Gaia-X: The last chance saloon for Europe’s visionary cloud project

4 May 2022

Most Popular

Russian hackers declare war on 10 countries after failed Eurovision DDoS attack
hacking

Russian hackers declare war on 10 countries after failed Eurovision DDoS attack

16 May 2022
Researchers demonstrate how to install malware on iPhone after it's switched off
Security

Researchers demonstrate how to install malware on iPhone after it's switched off

18 May 2022
Windows Server admins say latest Patch Tuesday broke authentication policies
Server & storage

Windows Server admins say latest Patch Tuesday broke authentication policies

12 May 2022