CINCINNATI, July 8, 2019 /PRNewswire/ -- Worldpay, Inc. (NYSE: WP) and the University of Cincinnati are on a mission to help fill a widespread talent shortfall, while creating career opportunities for students and business solutions for the Symmes Township-based payments technology company.
Worldpay is the latest industry partner to co-locate at UC's 1819 Innovation Hub, within the Uptown Innovation Corridor in Avondale. The company is expected to move into its fourth-floor space this fall, joining Kroger, Cincinnati Bell, P&G and Cincinnati Financial as charter partners. 1819 is the connecting place for industry to rapidly access the talent and resources at UC.
Every semester, Worldpay plans to employ students to work on fintech applications and other projects in its 1819 space. The collaboration will not only train students for future careers, but it will help Worldpay advance the way the world pays for goods and services.
Worldpay processes more than 40 billion transactions annually—more than any other acquirer in the world1. The company focuses on enabling payment methods, protecting against fraud and delivering data-driven insights for businesses. The company also partners with UC and other schools in its TechBright program, which is designed to increase the number of students—especially women and underrepresented minorities—who are pursuing degrees related to the fast-growing technology sector.
"If you consider how consumers pay for things and how that is constantly evolving, it means companies like Worldpay need to be heavily focused on innovation and embrace change or fall behind," said Worldpay President and Chief Operating Officer Mark Heimbouch. "That is why the relationship between UC and companies like Worldpay, Kroger and P&G are so important. It allows us, together, to be ahead of the curve—creating tech and not just consuming it."
According to Korn Ferry Institute's "Future of Work: The Global Talent Crunch," the global business talent shortfall may hit 85.2 million people by 2030 and result in $8.5 trillion in unrealized annual revenue. The financial and business services industries are expected to be the hardest hit with the primary reasons being fierce competition for qualified workers and disruptive technology.
UC Chief Innovation Officer David J. Adams sees opportunity in those numbers and is looking forward to Worldpay taking up residence in 1819.
"The struggle for talent is real among startups, mid-size organizations and billion-dollar companies like Worldpay. UC can help, as we do strategically every day, quickly connecting our partners to students, research and ongoing educational resources," he said. "Talent has choices, and the more UC can demonstrate that our region is a place where innovative companies thrive, the more likely we are to see that talent choose Cincinnati as a place to stay."
Worldpay has provided scholarships to UC students in the School of Information Technology and College of Engineering and Applied Sciences, and regularly sponsors the university's hackathon, RevUC, as well as the School of Information Technology's Early College Program, the College of Engineering and Applied Sciences Senior Design Showcase and School of IT's TechExpo. Additionally, since 2016, more than a third of Worldpay technology interns from UC have become full-time employees.
The company's positive working relationship with UC helped pave the way for further discussion about a partnership at the 1819 Innovation Hub. Already familiar with UC's more than 55 IT programs in eight different colleges, Worldpay is interested in making strategic connections at the university to help address talent needs.
UC President Neville G. Pinto said, "It's exciting to see our expanding partnerships at the 1819 Innovation Hub. We are grateful that an industry-leading technology company with the reach of Worldpay is deepening its relationship with the University of Cincinnati to access and develop the talent it needs for the future."
Worldpay, Inc. (NYSE: WP) is a leading payments provider with unique capability to power global integrated omni-commerce, any payment, anywhere. With industry-leading scale ad an unmatched integrated technology platform, Worldpay offers customers a comprehensive suite of products and services globally, delivered through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.
About UC's 1819 Innovation Hub
The 1819 Innovation Hub is home to innovation, connecting the resources organizations need to succeed. As the anchor to Cincinnati's developing innovation district, it provides a place for organizations from start-up to Fortune 500 to interact with each other and with university talent to collaborate, accelerate, and solve today's complex problems. Visit www.uc1819.com.
1 The Nilson Report, Issue #1149, March 2019
Adam Kiefaber, Leader of Corporate Communications, Worldpay, Adam.Kiefaber@Worldpay.com l (513) 900-5097
For University of Cincinnati:
Matt Koesters, PIO, Media Relations + Content, University of Cincinnati, Matthew.Koesters@uc.edu l (513) 556-5279
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SOURCE Worldpay, Inc.