Published On: Tue, Oct 20th, 2020

Global Processing Services secures investment from Visa

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Global Processing Services (GPS), a UK-based payments issuer processor backed by private equity firm Dunedin, has secured investment from digital payments giant Visa.

The investment is expected to propel the global expansion of Global Processing Services, which works with fintechs, digital banks, and e-wallet providers such as Revolut, Starling Bank, and others.

Joanne Dewar – CEO of Global Processing Services said: “This strategic partnership with Visa is a fantastic step in the GPS growth journey, providing both recognition as a trusted and proven processing provider and further extends our reach.

“We have great relationships with Visa around the world and we look forward to taking these from strength to strength as we work together to showcase both of our capabilities. GPS is uniquely focused on customer success and we welcome the opportunity to spotlight the role we play at the epicentre of the fintech story.”

Backed by the UK Department for International Trade’s Fintech Bridges and the Singaporean Economic Development Board, Global Processing Services expanded into the APAC region in 2019.

The company has delivered programs such as Australian neobank Xinja, and WeLab Bank, a virtual bank in Hong Kong.

Kevin Jacques – Vice President, Visa Ventures said: “GPS is an example of how we continue to invest in, and partner with, companies that provide valuable capabilities to the ecosystem and have potential to advance the payments industry.

“The business has a strong balance sheet, engaging leadership and growth across key regions, and we believe it will continue to be an important enabler for payments processing.”

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