FIS Inc. is selling a majority stake in its massive Worldpay transaction-processing operation, but that doesn’t mean the company is ditching the payments business, its chief executive made plain early Tuesday.
“We have not moved totally away from that,” said Stephanie Ferris told equity analyst during an early-morning call to review FIS’s third-quarter results. “We do process debit card transactions.” She stressed the advantage she says FIS has in processing online debit in particular, following a rule clarification issued by the Federal Reserve this summer that enforces a decade-old requirement that banks make network choice available for debit on e-commerce as well as in-store transactions.
That capability, Ferris noted, “should be a needle-mover” for FIS. “We’ve tripled down on selling it,” she added. “I continue to press the guys. We have a significant advantage there.” Among the company’s assets is the NYCE ATM network, which ranks among the nation’s largest such systems. “It should be a needle-mover,” Ferris said.
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