The new long-term agreement builds on the companies’ collaboration since 2012 and will allow Trust Payments to provide its clients with on-demand payment capabilities, enabled by Acquiring-as-a-Service (Aq-a-a-S) capabilities from Fiserv.
The emergence of Aq-a-a-S has made it possible for a broad range of fintechs beyond financial institutions or large payment processers to become merchant acquirers, enabling the acceptance of card payments for their own clients, according to the press release. Trust Payments is one of the first businesses to utilise the Fiserv suite of API-enabled services to facilitate faster and more seamless access to new capabilities.
Trust Payments is seeing growth, with a 73% increase in total revenues in 2021, as more merchants recognised the need for digitisation of payments and commerce, partially fuelled by the rise in contactless spending and the need to meet growing customer demand for omnichannel experiences, the company says.
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