worldpay group plc annual report

You can choose from various message (or report) types. 2014 Proxy Statement. 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. [3] It was listed on the London Stock Exchange until 16 January 2018 when it was acquired by Vantiv to form Worldpay, Inc. History [ edit] Early History [ edit] To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy Please note, this site uses cookies. Select Profile Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes. 5. All statements other than statements of historical fact or relating to present facts or current conditions included in this release are forward-looking statements including any statements regarding guidance and statements of a general economic or industry specific nature. Due to our structure as a C corporation and Vantiv Holding's structure as a pass-through entity for tax purposes, the numerator in the diluted net income per share calculation is adjusted to reflect our income tax expense at an expected effective tax rate assuming the conversion of the Class B units of Vantiv Holding into shares of our Class A common stock. not this report is to be made active - Yes Privacy and Cookie PolicyTerms, *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: Combined company guidance is based on an assumed exchange rate of U.S. dollar/pound sterling of $1.35. Phase 1 of the project was completed in September 2015, Completed enhancements to our Disaster Recovery sites, Banking robots, virtual machines and network access moved to the Worldpay Data Centres, Completed componentisation of the existing Gateway code base to measurably reduce the complexity, Ratio monitoring of permanent colleagues versus temporary/contractors to ensure key knowledge is retained in the business following implementation of changes, Monitor the completion of the new technology platform training to ensure all colleagues have undergone role specific and general training ahead of phased releases, Tracking of actual cost versus budget costs of projects, Failure to deliver high-priority projects impacting customer and/or reputation, Governance structure in place to manage information and decision making across the senior management. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Logo - https://mma.prnewswire.com/media/628755/Worldpay_logo_Logo.jpg, Plus500. These reports include company annual reports (10K, 10Q), news updates (8K), investor presentations (found in 8Ks), insider trades (form 4), ownership reports (13D, and 13G), and reports related to the specific securities sold, such as registration statements and prospectus. Represents adjusted income tax expense assuming the conversion of the Class B units of Vantiv Holding into shares of Class A common stock, including the tax effect of adjustments described above. The Group's policy is for its subsidiary undertakings to bear the costs of their full time staff. Feb 26, 2019. All rights reserved. The definition includes subsidiaries, associates, joint ventures, the Directors and any other entities over which the Directors have significant influence. The forward-looking statements contained in this release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. The Company also provided guidance for the combined Company for the first quarter and full-year 2018 and furnished non-GAAP supplemental "historical as if combined" pro forma financial results for 2017 and 2016. Related Parties and Related Party Transactions. I confirm and agree. Customers are a mix of multinational, multichannel retailers, with the majority being small business merchants. By clicking "I Agree" below, you acknowledge that you accept our. They depend upon future events and are subject to risks, uncertainties (many of which are beyond our control) and assumptions. These are important financial performance measures for the Company, but are not financial measures as defined by GAAP. 2011 Annual Report 827.5 KB. On 16 October 2015, the Company's Ordinary Shares were admitted by the London Stock Exchange. Non-operating expense for the three months and year ended December31, 2016 relates to the change in fair value of the Mercury TRA as well as expenses relating to the refinancing of our senior secured credit facilities in October 2016. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities. These results do not necessarily reflect what the historical results of Worldpay, Inc. would have been if the acquisition of Worldpay Group plc had occurred on January 1, 2016. For the Batch report only, select the Account type from the drop-down list. Company law requires the Directors to prepare Group and parent Company financial statements for each financial year. Net revenue is revenue, less network fees and other costs which primarily consist of pass through expenses incurred by us in connection with providing processing services to our clients, including Visa and Mastercard network association fees and payment network fees. This includes local project meetings, Steering Committees and senior management reporting, An analysis of the impact on resources of business as usual change requests compared to the new technology platform plan is conducted to identify resource constraints, Established and published Organisational and Readiness dashboards to track the new technology platform project at divisional level and Group level, Weekly Senior Management Report produced tracking top four initiatives and the progress made against delivery plans, Identified key roles needed to transition to, and then operate, the new technology platform. Enter an not this report is to be made active - Yes Below are the adjustments to Other operating costs, General and administrative and Depreciation and amortization. [11] The company listed on the London Stock Exchange through an initial public offering (IPO) in October 2015. This website is only for private investors. The RBS Group retained a 20% stake in the newly independent business,[10] with Advent International and Bain Capital owning 40% each. The conference call can be accessed live over the phone in the U.S. and Canada by dialing (888) 710-4011, in the U.K. by dialing 0800 404 7655, or for international callers (719) 325-4891, and referencing code 5521502. the UK, Ongoing monitoring and oversight of our merchants to ensure compliance, Worked with the Regulator and payment schemes to understand and influence the direction of travel of new, Created a Regulatory and Industry Affairs Group to work on EU and UK governmental initiatives, Introduced a horizon monitoring programme, Customer satisfaction (Net Promoter Score), Breaches to identified legal and regulatory standards, Failure to identify or understand the impacts of changing legislation may prevent Worldpay from trading in the relevant jurisdictions, May result in Worldpay or its customers unknowingly breaching regulations, May result in delays in providing services to our customers, Non-compliance may result in loss of business licence, Any regulatory breaches may result in reputational damage and loss of customers, Failure to prevent Worldpay being used to facilitate financial crimes, Risk that Worldpay is blocked or suspended from activities that are critical to its model, Dedicated Legal and Compliance functions and a network of external advisors who maintain a constant review of current and future legal and regulatory developments and their potential impacts, Policies and procedures implemented including contracting, anti-bribery and corruption, competition, data protection, anti-money laundering and sanctions, Dedicated transaction monitoring processes and reporting regarding fraud, Regular business risk meetings with attendance of Legal and Compliance to advise of changes required to address risks identified, Produced an enhanced Gambling Product Heatmap and extended our external specialist Gambling Counsel Alert service, Continued to build a trusted relationship with FCA, PSR and CMA and responded to mandatory requests for information from regulators in a timely and accurate manner, Payments and settlements processed within SLA, Average time to resolve investigation queries, Daylight overdraft facilities in place ready to be utilised in the event of non-receipt of funds from schemes, Card scheme balances are monitored daily to ensure that funds are received and sufficient cash flow is available for us to pay merchants, Daily reconciliation of all Worldpay merchant specific bank accounts, Implementation of automated reconciliation system, Investigations versus adverse action rate, Increase in credit exposure arising from failed Credit Risk Assessment/Autoscore processes leading to increase in loss, Rejection of applications caused by failed Credit Risk Assessment/Autoscore processes leading to a decrease in profitability, Merchant fails to provide goods/services to customers leading to an increase in chargebacks that cannot be passed on to a failed merchant, resulting in financial loss, Each application from a merchant or proposed partnership with a bank or alternative payment provider is risk assessed, Where approval is not automatic, the case is referred for a secondary review, A transaction monitoring system equipped with credit-specific rules and models scans each transaction and aggregates merchant behaviour, A Credit Watch List is used to identify at-risk merchants that may result in financial loss. Notice of the Annual General Meeting 2017 ("AGM"); and Advancing the ways the world pays, banks and invests. Also includes tax benefits due to the amortization of intangible assets and other tax attributes resulting from or acquired with our acquisitions, and to the tax basis step up associated with our separation from Fifth Third Bank and the purchase or exchange of Class B units of Vantiv Holding, net of payment obligations under tax receivable agreements. Worldpay Group plc (formerly RBS WorldPay) was a payment processing company. their own contract with the acquirer, EventReport Worldpay Group PLC. Represents estimated ranges of adjustments for the following items: (a)acquisition and integration costs incurred in connection with our acquisitions, charges related to employee termination benefits and other transition activities; (b)share-based compensation; (c)amortization of intangible assets acquired in business combinations and customer portfolio and related asset acquisitions; (d)non-operating expense is primarily associated with the change in the fair value of a TRA entered into as part of the acquisition of Mercury and a realized gain of approximately $56 million relating to the settlement of a deal contingent forward entered into in connection with the acquisition of Worldpay Group plc(e)adjustments to income tax expense to reflect an effective tax rate for the three months ended March 31, 2018 and the full year 2018 based on Tax Reform and a new tax structure, assuming conversion of the Fifth Third Bank non-controlling interests into shares of ClassA common stock, including the tax effect of adjustments described above; and (f) tax benefits due to the amortization of intangible assets and other tax attributes resulting from or acquired with our acquisitions, and to the tax basis step up associated with our separation from Fifth Third Bank and the purchase or exchange of Class B units of Vantiv Holding, net of payment obligations under tax receivable agreements. Non-operating income for the three months and year ended December 31, 2017 primarily consists of a gain of approximately $418.9 million relating to the impact to the tax receivable agreement ("TRA") liability as a result of the Tax Cuts and Jobs Act ("Tax Reform") being enacted on December 22, 2017 and an unrealized gain of approximately $8.7 million for the three months and $33.1 million for the year ended, respectively, relating to the change in fair value of a deal contingent forward entered into in connection with the Worldpay Group plc acquisition, partially offset by the change in fair value of a TRA entered into as part of the acquisition of Mercury ("Mercury TRA"). Worldpay ) was a payment processing Company payment processing Company or current facts or! Bear the costs of their full time staff are a mix of multinational, retailers! Are a mix of multinational, multichannel retailers, with the majority being business. 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