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Referral Arrangement with RBS
RNS Number : 2427F
Worldpay, Inc
26 October 2018
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

FOR IMMEDIATE RELEASE

 

October 26, 2018

 

 

Worldpay, Inc.

 

Announcement - Referral Arrangement with The Royal Bank of Scotland

 

CINCINNATI, October 26, 2018

 

Worldpay Inc. (NYSE: WP; LSE: WPY) ("Worldpay") announces that Worldpay (UK) Limited ("Worldpay UK") and The Royal Bank of Scotland ("RBS") have agreed to end their referral arrangement during 2019. Under the arrangement, RBS exclusively refers potential clients to Worldpay UK, and Worldpay UK sells Worldpay-branded merchant acquiring and related services to these referred clients. Following the conclusion of the arrangement, Worldpay UK will continue to own the merchant acquiring relationships for its existing portfolio of clients that were previously referred by RBS.

               

Worldpay expects this agreement to have an immaterial impact on its operational and financial results. Worldpay operates multiple direct and referral-based distribution channels within the United Kingdom (U.K.) as well as globally. In 2017, RBS provided referrals that generated approximately $4.8 million in annualized net revenue from new sales or approximately 0.1% of Worldpay's annualized total company net revenue.

 

Worldpay expects its previously provided 2018 net revenue guidance to be unaffected by this announcement and for the impact on future revenue expectations to be similarly immaterial.

 

Pursuant to its obligations under the U.S. Securities Exchange Act of 1934, as amended, a Form 8-K will be filed with the Securities and Exchange Commission on October 26, 2018. A copy of the Company's Form 8-K will also be available on the SEC's website at http://www.sec.gov.

 

The Company will shortly submit the corresponding Form 8-K to the National Storage Mechanism and they will be available for inspection at: http://www.morningstar.co.uk/uk/NSM.

 

 

Enquiries

 

Worldpay, Inc.

Nathan Rozof or Ignatius Njoku, Investor Relations

Andrew Ciafardini, Corporate Communications

Claire Hardy, Corporate Communications

 

+1 513 900 4811

+1 513 900 5308

+44 (0) 203 664 4902

Goldman Sachs International (U.K. Corporate Broker to Worldpay, Inc.)

Charlie Lytle

Tom Hartley

Adam Laikin

 

Smithfield (PR adviser to Worldpay, Inc.)

John Kiely

 

 

+44 (0) 207 774 1000

 

 

 

 

+44 (0) 203 047 2538

Worldpay, Inc. LEI number: 213800TV56O7TZI4U902

 

About Worldpay, Inc.

 

Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global integrated omni-commerce. With industry-leading scale and an unmatched integrated technology platform, Worldpay offers clients a comprehensive suite of products and services globally, delivered through a single provider.

 

Worldpay processes over 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies. The company's growth strategy includes expanding into high-growth markets, verticals and customer segments, including global eCommerce, Integrated Payments and B2B.

 

Worldpay, Inc. was formed in 2018 through the combination of the No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc. trades on the New York Stock Exchange as "WP" and the London Stock Exchange as "WPY."

 

 


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