As FIS has looked to accelerate its e-commerce offerings for businesses, the acquisition allows the payments company to incorporate Payrix’s embedded finance technology for small and medium-sized businesses.
“Payrix is a small but really highly strategic acquisition for us,” FIS President Stephanie Ferris said during Tuesday’s earnings call, “… in terms of accessing an e-commerce market we haven’t been in before, but also really unlocking the value of FIS as we start to be able to deliver embedded financial services out to this marketplace.”
