Who is involved in the deal that was just announced?
The deal announced today involves two private investment companies, Advent International and Bain Capital. Both companies have a successful track record of investing in the banking and financial services sectors.
Will my business be safe in the hands of the new owner?
The two companies manage combined funds of more than $85bn. Advent International and Bain Capital have invested in securing this business and they are committed to continuing to growing it.
What are the new owners’ plans for this business?
At this point, we do not have the details on their plans for WorldPay. However, these will become clearer in the coming months.
Why did RBS sell the business?
In late 2009, RBS announced a restructuring plan that had been provisionally agreed with the European Commission. The EC formally approved this on 14 December 2009. Each of the businesses RBS was asked to divest currently occupy market-leading positions in their respective markets and the divestment has nothing to do with financial performance. The sale of WorldPay forms part of the EC agreement.
Why wasn’t I informed of this?
RBS’ requirement to sell WorldPay was made public following an agreement reached with the European Commission in 2009. However, as a listed company on the stock exchange RBS could not formally write to you with the name of the buyer before notifying the stock exchange.
Is this sale related to WorldPay’s financial performance?
No. This sale is to meet requirements set out by the European Commission (EC) in their review of the state aid RBS received from the UK Government during the financial crisis. WorldPay remains a profitable and attractive business which has attracted a large amount of interest from potential bidders and, prior to the EC
decision, remained a core part of RBS business strategy at that time.
What does the sale mean for me, as a customer of WorldPay?
You will continue to receive the high quality of service you have come to rely on. Our aim in the future is to minimise customer changes but some may be necessary and these will be communicated well in advance.
Which businesses/brands are included in the sale?
All those associated with WorldPay. The business operates under a number of brands which have evolved over time and in some cases have been purchased as businesses over recent years. They include Streamline, WorldPay, Bibit, PaymentTrust, RiskGuardian, Ulster Bank Merchant Services and RBSLynk.
What will happen to the WorldPay brand?
RBS branding is likely to change and this will be the subject of discussions with the buyer. As soon as a decision has been made on this and we are clear on the details, we will inform you of any changes.
Are you going to change my Account Manager?
No, there are no plans to change your Account Manager. Account Manager and Relationship Manager contact details will remain exactly the same.
Will there be any immediate changes to the agreements/terms I currently have with WorldPay?
We are currently working through the legal implications of this sale and will advise of any changes caused by new ownership in due course.
Who do I speak to about my Merchant Services or banking agreements?
Please continue to contact your Account Manager, Relationship Manager and your usual contacts.
Will I have to change my company’s bank account numbers?
No. We will continue to settle funds as per your instructions.
I’m going to take this opportunity to put my merchant servicing business out to tender.
We believe that market leading products and service levels are key to maintaining your confidence in our ability to process your transactions. Above all, that commitment will continue from Global Merchant Services. We would hope that this announcement does not give you any reason to change arrangements. We value
each and every customer, and look forward to continuing to serve your business needs.
What have you actually done to minimize disruption?
There will be no disruption to service. We are still in the negotiation phase of the sale and this may take a number of months to complete. As such, there will be no need to change any arrangements. Our priority is to continue to provide you with the same high standard of service that you have come to expect from us and we
will aim to minimize disruption for you as a result of the sale process. After the sales process is complete, we have every confidence that the owner will continue to look after customers well. If you are required to take any action, we will inform you well in advance.
What impact will the sale of WorldPay have on merchant services for my business?
Global Merchant Services is one of the leading merchant services providers in the world. It has delivered outstanding services to its customers for a number of years. We are committed to continuing to provide the highest quality of services to our customers regardless of ownership. We do greatly value your business,
and appreciate the loyalty you have shown us.
I’m currently in the process of becoming a customer of WorldPay. How does this affect me?
This sale will not affect the service you will receive from WorldPay.
Will your product range remain the same?
There are no current changes. All products currently provided will continue to work as they do now. Our priority is to continue to provide you with the same high standard of service that you have come to expect from us.
When will the transfer of WorldPay to the new owners happen?
The formal agreement to sell was signed today. However, the process for finalizing will take a number of months to complete. We will ensure we keep you informed of progress on the sale and dates for completion as soon as we know when this might be.
Will the Help Desk facility change?
There will be no change to the Help Desk. It will continue to be business as usual.
What will I have to do differently?
Nothing. All settlement and payments will be delivered as before.
I have your brand on my Web transactions page. Do I need to change it?
No action is required by you at the moment. Should there be any changes in future, we will notify you well in advance.
Has your relationship with RBS changed?
Although we are moving to new ownership, RBS remains a key partner for the business and we will continue to work together to provide best in class solutions for our customers.
