FIS Reshapes Fintech with $12B Issuer Deal, Worldpay Exit

JACKSONVILLE, FL – January 12, 2026 – Financial technology giant FIS has executed a sweeping strategic overhaul, completing its acquisition of Global Payments' Issuer Solutions business for a net purchase price of $12 billion while simultaneously divesting its remaining stake in merchant acquirer Worldpay. The dual transaction, finalized ahead of schedule, fundamentally reshapes FIS’s portfolio, sharpening its focus on core banking and payments technology and creating a formidable new data intelligence powerhouse.

A Strategic Overhaul for Core Banking

The centerpiece of the deal is the integration of the former TSYS issuer business, a global leader in credit processing, into FIS. This asset, which processes over 40 billion transactions annually for more than 150 financial institutions across 75 countries, will now be marketed under the brand FIS® Total Issuing™ Solutions. This move significantly bolsters FIS's capabilities, creating a comprehensive, end-to-end offering for its financial institution clients.

“We are pleased to have closed this strategic acquisition ahead of schedule, enabling us to start 2026 in a strong position to deliver greater value to our financial institution and corporate clients,” said Stephanie Ferris, Chief Executive Officer and President of FIS, in a statement. “We’re looking forward to capitalizing on the unique opportunities this acquisition brings to our Banking and Payments business and building momentum through the year.”

By combining the acquired credit processing, fraud, and loyalty services with its existing strengths in debit processing, network services, and accounts payable solutions, FIS aims to provide an unmatched, integrated suite. The acquisition dramatically expands the company's addressable market, allowing its Banking segment to tap into a global issuer market opportunity now estimated at $28 billion. The move is a clear pivot toward deepening its relationship with banks and corporations by owning a larger, more critical piece of the payments lifecycle.

The Data Intelligence Engine and AI Frontier

Beyond market share, the acquisition is a strategic play for data supremacy. By merging the vast consumer and commercial card data from the newly acquired issuer business with its own extensive datasets, FIS has created what it calls a "data intelligence engine that few in financial services can match." The company intends to leverage this massive repository of transactional data to train and deploy sophisticated artificial intelligence models designed to unlock new streams of business value.

Coinciding with the deal's closure, FIS unveiled its first major initiative powered by this new engine: an "agentic commerce" solution. This innovative offering is designed to help banks securely identify, authorize, and protect AI-initiated transactions made on behalf of consumers. As digital assistants and AI agents become more prevalent in orchestrating purchases, this capability addresses a critical emerging need for security and trust in the payment ecosystem.

In a significant industry collaboration, FIS has partnered with payment networks Mastercard and Visa to bring these capabilities to market, ensuring that AI-driven commerce operates within established authorization and dispute frameworks. The technology will be available to all FIS issuing bank clients by the end of the first quarter of 2026. The potential market is substantial, with some industry estimates projecting agentic commerce could orchestrate up to $1 trillion in U.S. retail revenue by 2030. This initiative builds on FIS's broader AI strategy, which includes a recent partnership with Glia to embed AI-powered customer service into its digital banking platforms.

The Billion-Dollar Financials and Investor Outlook

The complex transaction is designed to deliver significant financial upside for FIS and its shareholders. The deal carries an enterprise value of $13.5 billion, with a net purchase price of $12 billion after accounting for $1.5 billion in the net present value of tax assets. This financial engineering is expected to yield substantial returns.

FIS projects the acquisition will generate an additional $500 million in incremental Adjusted Free Cash Flow in 2026, a figure expected to climb to $700 million by 2028. The company also anticipates the deal will be accretive to its Adjusted EBITDA margins, Adjusted EPS, and free cash flow within the first 12 months of closing. Furthermore, FIS is targeting over $150 million in net EBITDA synergies by the third year post-acquisition.

From a strategic finance perspective, the move swaps a non-cash generating minority interest in Worldpay for a high-margin, recurring revenue stream from the issuer business. This shift is intended to improve the quality and predictability of FIS's earnings, a move likely to be welcomed by investors seeking stable, long-term growth. The company's ability to close the deal ahead of schedule signals strong execution and confidence in realizing these ambitious financial targets.

Reshaping the Competitive Landscape

This landmark deal sends ripples across the entire fintech landscape, impacting not only FIS but also its primary competitor in the transaction, Global Payments, and the industry at large. For Global Payments, the sale of its issuer business and the full acquisition of Worldpay marks a definitive transformation into a pure-play merchant solutions provider.

By consolidating its ownership of Worldpay, which it had previously acquired in partnership with private equity firm GTCR, Global Payments now serves over six million merchant locations globally, processing an estimated $3.7 trillion in payment volume annually. The company is now sharply focused on serving merchants of all sizes, from small businesses to large enterprises, with a strengthened position in e-commerce. Global Payments anticipates realizing approximately $600 million in annual run-rate cost synergies and at least $200 million in revenue synergies from its Worldpay integration. As a result of the transaction, GTCR now holds a significant 15.45% stake in the newly focused Global Payments.

For FIS, the acquisition solidifies its competitive standing against rivals like Fiserv and Jack Henry by creating a more deeply integrated and comprehensive banking technology stack. The transaction underscores a powerful trend of consolidation and strategic realignment within the financial technology sector, as major players divest non-core assets to double down on their primary strengths. As banks and businesses navigate an increasingly complex digital economy, the clear, focused strategies of these newly reshaped giants will define the future of how the world pays, banks, and invests.