Financial technology firm FIS said today it has completed its acquisition of Global Payments’ Issuer Solutions business, formerly known as TSYS, in a deal valued at $13.5 billion.

The transaction, which closed ahead of schedule, carries a net purchase price of $12 billion after accounting for tax assets, according to today’s release. The acquired business will operate under the FIS Total Issuing Solutions brand. FIS also completed the sale of its remaining minority stake in Worldpay to Global Payments as part of the transaction.

FIS Chief Executive Stephanie Ferris said the deal positions FIS to begin 2026 with greater scale and momentum across its banking and payments businesses.

The issuer solutions portfolio processes more than 40 billion transactions annually for clients in more than 75 countries and maintains partnerships with more than 150 financial institutions and corporate customers, according to the release.

The company said the acquisition expands its capabilities in credit processing, fraud prevention, loyalty and other value-added services, complementing its existing debit, payments and banking offerings. FIS also said the combined data scale strengthens its ability to deploy artificial intelligence across consumer and commercial card portfolios.

FIS expects the deal to generate about $500 million in incremental adjusted free cash flow in 2026, rising to $700 million by 2028, and to significantly expand its addressable market in global issuer services.

Register here by Jan. 16 for early bird pricing for the inaugural FinAi Banking Summit, taking place March 2-3 in Denver. View the full event agenda here.