Fidelity Natl Information Svcs Stock Price, News & Analysis

FIS has announced that its Chairman, President, and CEO, Gary Norcross, has been awarded the 2020 Corporate Citizenship Award from the Committee for Economic Development. This award recognizes leadership in corporate responsibility, reflecting FIS's commitment to societal issues such as economic growth and sustainability. Norcross is one of six corporate leaders honored at the virtual event. The award acknowledges FIS’s ongoing initiatives to enhance business practices positively impacting communities worldwide.

FIS has partnered with Brazilian fintech Afinz to provide processing services for its private-label credit card portfolio. Afinz, formerly Sorocred, aims to enhance its operations and support growth by outsourcing card processing to FIS. The migration to FIS's advanced credit card processing platform was completed in early September, improving operational efficiency. This long-term agreement also includes services for a new co-branded credit card with Visa, indicating Afinz's commitment to expand its offerings in the Brazilian market.

FIS announced a quarterly dividend of $0.35 per common share, payable on December 28, 2020, to shareholders on record as of December 14, 2020. This action reflects FIS's commitment to returning value to shareholders while maintaining a robust financial position in the financial services technology sector.

FIS has added Walgreens to its Premium Payback network, enabling customers to redeem credit card rewards in real-time for in-store purchases. The integration allows Walgreens shoppers to utilize loyalty points during transactions, enhancing customer value. This service comes amid a growing list of participating merchants, including Paypal and Shell, and is supported by over 7,000 card loyalty programs, representing approximately 37 million eligible cardholders. The initiative is designed to drive customer loyalty and shopping frequency at Walgreens.

FIS has expanded its operations in Latin America by acquiring domestic card scheme licenses in Argentina. This move allows local merchants to process payments in-country using Worldpay’s extensive merchant solutions. As the largest global acquirer in Argentina, Worldpay will capitalize on the rapid growth of eCommerce, projected to double by 2023, especially in mobile sales. This expansion enhances international market access for Argentine consumers and positions FIS favorably in a rapidly evolving digital payment landscape.

FIS recently held its fifth annual Demo Day, where ten fintech startups showcased their innovations to potential investors and leaders. This year marked a shift to an online format due to the pandemic, and the traditional 12-week program was extended by six weeks for enhanced mentoring. TrustStamp gained recognition as the 'Audience Choice' for its identity verification technology. Governor Asa Hutchinson and FIS CEO Gary Norcross announced the program's continuation into 2021, highlighting its role in fostering fintech growth in Arkansas.

FIS will announce its third quarter 2020 financial results on October 29, 2020, before the market opens. A live webcast for the earnings conference call will begin at 9:00 a.m. EST on the same day and will be available for replay afterwards. FIS, a leader in financial services technology, is dedicated to enhancing how the world pays, banks, and invests. The company operates globally with over 55,000 employees, utilizing data-driven insights to deliver superior customer experiences.

New research by FIS reveals a significant acceleration in the adoption of real-time payments amid the COVID-19 pandemic. Key findings from the 2020 Flavors of Fast report show remarkable growth in real-time payment transactions globally, with countries like Bahrain and Ghana seeing increases over 400%. The US has over 130 financial institutions implementing such systems, reflecting a five-fold growth since 2019. Additionally, the report indicates a shift towards broader capabilities beyond instant payments, including cross-border transactions and business payments.