Worldpay Launches Embedded Finance Solution for Platform Partners
Worldpay has launched a suite of financial service products that can be integrated by its software platform partners.
The new Embedded Finance Engine includes embedded lending, banking and commercial card issuing products, and is expected to gain additional capabilities in the coming months, the company said in a Monday (Sept. 29) press release.
This suite of products is available to partners integrated with Worldpay for Platforms, enabling them to deliver financial services directly from their business management applications, according to the release.
By using these prebuilt embedded finance components, these partners can add services without major investment or additional resources and can let Worldpay handle regulatory requirements and risk management, per the release.
“Our goal is to empower partners to become the everything platform for their users,” Matt Downs, president of Worldpay for Platforms, said in the release. “We are helping them move beyond payments to solutions like the Embedded Finance Engine. By providing partners with purpose-built and easy-to-use technology with simple integrations, we help them unlock new opportunities and deliver greater value to their customers.”
The PYMNTS Intelligence and Worldpay collaboration “Platform Power: The Growing Importance of Embedded Finance to SMB Success” found that about 90% of small and medium-sized businesses said access to embedded finance is essential to their daily operations.
The report also found that embedded finance attracts small businesses and locks them in. Thirty-seven percent of SMBs said they were likely to switch to a provider offering embedded lending. Among those who had used such tools in the last year, that share rose to 69%.
“We’re seeing a fundamental shift in how software providers approach financial integration,” Downs said in the report. “The platforms that thrive aren’t just offering basic functionality — they’re embedding comprehensive financial capabilities so seamlessly that their clients can’t imagine operating without them.”
In another recent move, Worldpay announced in July that it was expanding Worldpay for Platforms to Canada and the United Kingdom and deepening its presence in Australia, in response to rising demand for embedded finance.
Downs said at the time that this expansion was part of Worldpay’s commitment to serving software platforms “in the key geographies where they do business.”
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