Myles Stephenson

FIS plans to leverage Modulr’s API-based payments infrastructure to facilitate and automate real-time, business-to-business, payments in the U.K. and Europe as part of FIS’ broader real-time payments strategy.

Modulr has said it is tapping into the massive business-to-business payments digitisation opportunity by working with software platforms that serve small and medium-sized businesses. 2020 was a breakout year for the company as it signed up a number of large enterprise customers, despite the macroeconomic challenges posed by COVID-19.

Myles Stephenson, CEO at Modulr, commented: “FIS and Modulr share the same ambition, to enable businesses to move fast and transform their payment processes, software and experiences in line with the digital world. We look forward to working with FIS to develop and deliver better payments solutions and innovative services to businesses of all sizes.”

Asif Ramji, chief growth officer at FIS, said: “Our investment in Modulr is a key component of our comprehensive vision at FIS to bring the full power and potential of real-time payments to organizations at a global scale. Working with Modulr, we’ll be able to help our clients in the UK and EEA market accelerate their journey to digital payments, as well as work towards delivering a suite of new global real-time payment propositions.”