Finance

How The Worldpay and FIS ‘Original Sin’ Derailed A $43bn Merger

Published

3 years ago

March 2, 2023

Harry Williams

It’s a tale as old as time: two companies, one with an eye on the future and one with an eye on the past. The former, Worldpay, was a fast-growing payments technology firm that had its sights set on disrupting the industry. The latter, FIS, was an old-school banking behemoth that pursued a more traditional approach to the business. When their merger agreement for $43bn was announced in early 2019, it seemed like the perfect match of traditional values and forward-thinking tech. However, by mid-2019 Worldpay pulled out of the deal due to what is known as ‘original sin’ – a term used to describe hidden costs and issues arising from a merger or acquisition. In this blog post, we’ll explore what exactly led to this unexpected setback and why original sin derails mergers before they can even get off the ground.

The failed merger between Worldpay and FIS

In June 2019, Worldpay Inc. and FIS announced that they were terminating their merger agreement. The $35 billion deal, which would have created a global leader in payments processing, had been announced just six months earlier.

The termination of the merger was a direct result of the “original sin” committed by Worldpay and FIS when they first announced the deal. Specifically, the terms of the deal violated UK takeover rules, which state that any company making a public bid for another company must do so within 28 days of the announcement of its offer.

By violating this rule, Worldpay and FIS opened themselves up to a lengthy review process by the UK’s Takeover Panel. This review process ultimately led to the demise of the deal, as it put significant pressure on both companies to reach a resolution before their shareholders lost patience.

The failed merger between Worldpay and FIS is a cautionary tale for all companies considering a public takeover bid. It highlights the importance of following all applicable rules and regulations, as even a small violation can lead to major consequences.

What went wrong?

It’s been a long and winding road for Worldpay and FIS, but the two companies have finally called it quits on their merger. The $34 billion deal, which was first announced in March 2019, has been fraught with problems from the start.

The original sin, as it were, was the decision to structure the deal as a reverse merger. That meant that Worldpay would technically be acquiring FIS, even though it was smaller and had less revenue. The logic behind the move was that it would be easier to get Worldpay shareholders to sign off on the deal than it would be to get FIS shareholders to do so.

Unfortunately, that strategy backfired. Worldpay shareholders were unhappy with the terms of the deal, and they made their displeasure known loud and clear. In particular, they objected to the fact that FIS CEO Gary Norcross would be running the combined company. They also didn’t like that Worldpay would be taking on a lot of debt to finance the deal.

As a result of all of this shareholder unrest, Worldpay’s board decided to walk away from the deal in September 2019. However, FIS refused to give up easily and sweetened the pot by increasing its offer for Worldpay. This time around, though, Norcross agreed to step aside as CEO of the combined company if the deal went through.

In spite of these concessions, Worldpay shareholders still weren’t happy. They felt that FIS

The role of ‘Original Sin’

In the world of mergers and acquisitions, there is always the potential for things to go wrong. And when they do, it is often because of what is known as “original sin.”

Original sin occurs when one company acquires another and then discovers that the target company has hidden problems that were not previously disclosed. This can be anything from financial problems to regulatory issues. And in the case of Worldpay and FIS, original sin derailed a $bn merger.

Worldpay is a payments processing company that was acquired by FIS in 2019. The deal was valued at $43 billion, making it one of the largest ever in the financial technology sector.

However, just months after the deal was completed, it became clear that Worldpay had some hidden problems. In particular, the company had been overstating its revenue for several years. This led to an investigation by the Securities and Exchange Commission (SEC), which ultimately concluded that Worldpay had engaged in “accounting manipulation” dating back to 2015.

As a result of the SEC’s findings, Worldpay was forced to restate its financials for the years 2015-2017. This put a significant dent in FIS’s share price, as investors began to question whether or not they had paid too much for Worldpay.

The situation was made even worse by the fact that Covid-19 hit just months after the deal closed. This caused a sharp decline in demand for Worldpay’s

Why the merger was doomed from the start

The Worldpay and FIS merger was doomed from the start for a number of reasons. First, the two companies had different cultures and values. Worldpay was a fast-paced, entrepreneurial company, while FIS was a more traditional, risk-averse organization. This difference in culture made it difficult for the two companies to work together and ultimately led to the demise of the merger.

Second, the two companies had different strategies for growth. Worldpay was focused on organic growth, while FIS was focused on acquiring other companies. This difference in strategy made it difficult for the two companies to align their goals and ultimately led to the failure of the merger.

Third, the two companies had different approaches to risk. Worldpay was willing to take risks in order to grow its business, while FIS was more conservative and risk-averse. This difference in approach led to disagreements between the two companies about how to run their business and ultimately led to the failure of the merger.

What could have been done differently

1. What could have been done differently

If Worldpay and FIS had been more transparent about their true intentions from the start, it is possible that the deal could have gone through without hitches. However, it is also possible that the cultural differences between the two companies would have eventually led to problems down the line.

Conclusion

The ‘Original Sin’ between Worldpay and FIS that led to the $43bn merger deal being derailed provides a valuable lesson for companies looking to form big partnerships. Corporate culture is key in any successful merger, as it can play an integral role in shaping how two or more entities come together. For future deals of this magnitude, both parties need to be aware of their respective corporate cultures prior to making any major commitments – otherwise they risk running into similar difficulties that Worldpay and FIS experienced.

Author

Harry Williams

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Business

RBI Gold Loan Guidelines 2025: What Borrowers Must Know

Published

4 days ago

November 21, 2025

ishasingh1699

Reviewed
By Elena Avery

Introduction

Gold Loans continue to be one of the most accessible credit options in India. With their quick processing and security-backed nature, they’ve helped millions manage short-term financial needs. In 2025, the Reserve Bank of India (RBI) introduced a revised set of Gold Loan guidelines to improve transparency, borrower protection, and uniformity in lending practices. These updates are particularly relevant for anyone considering a Gold Loan, whether for personal emergencies, minor business requirements, or planned expenses.

Understanding RBI’s Tiered LTV Policy

RBI now follows a tiered loan-to-value (LTV) ratio based on the total loan amount. The LTV ratio indicates the percentage of the gold’s value that can be sanctioned as a loan. As per the latest framework:

Loans up to ₹2.5 Lakh: Maximum LTV capped at 85%
Loans between ₹2.5–₹5 Lakh: Maximum LTV capped at 80%
Loans above ₹5 Lakh: LTV restricted to 75%

This change encourages responsible lending and ensures that smaller borrowers can access slightly higher loan amounts relative to the value of gold pledged.

Assessment of Borrower Creditworthiness

While smaller loans up to ₹2.5 Lakh may be offered without detailed credit appraisals, any loan amount exceeding this threshold requires a thorough credit assessment of the borrower’s repayment capacity. This step protects financial institutions and borrowers alike by aligning loan disbursements with the borrower’s ability to repay. Loan renewals or top-up loans can only be sanctioned following such credit assessments and must remain within permissible LTV limits. Bullet repayment loans may only be renewed after accrued interest has been paid.

Valuation and Purity Checks

RBI mandates a standardised process for assaying the gold pledged as collateral. The valuation of the pledged metal must be based solely on its intrinsic value without including stones, gems, or other embellishments. The price used to assess the value of the collateral should reflect its actual purity (caratage). This value must be based on the lower of either the average closing price over the past 30 days or the closing price from the previous day. These prices should be sourced from either the India Bullion and Jewellers Association Ltd. (IBJA) or a commodity exchange regulated by the Securities and Exchange Board of India (SEBI).

If prices for a specific purity are unavailable, valuation should be adjusted proportionately based on the nearest available purity. The assaying procedure and valuation methodology must be consistent across all branches of a lender, and borrowers must be present during assaying. Deductions related to non-metallic components, such as stones or lac, should be explained and documented in a certificate issued to the borrower. The lender is required to issue this certificate in duplicate, one for its records and one for the borrower’s acknowledgement.

Ownership Documentation and Anti-Money Laundering Measures

Lenders are required to ascertain that the ownership of the pledged collateral is not doubtful. Where ownership documents such as purchase bills are unavailable, lenders should obtain a declaration from the borrower affirming rightful ownership. Further, multiple or frequent loans granted to a single borrower aggregating beyond a certain threshold must be closely monitored under anti-money laundering (AML) regulations to prevent misuse or fraud.

Restrictions on Collateral Use and Loan Tenure

The RBI prohibits lending against primary gold, such as financial assets backed by gold ETFs or mutual funds. Collateral that has been pledged to a lender must not be repledged or used to secure loans from other institutions. Additionally, the tenure of consumption loans structured as bullet repayments is capped at 12 months, though renewals are permissible by appropriate regulations.

Collateral Limits for Ornaments and Coins

To mitigate risks linked to collateral management, the maximum aggregate weight of gold ornaments pledged by a borrower should not exceed 1 kilogram. Similarly, limits apply to coins: 50 grams for gold coins.

Settlement, Auction Procedures, and Borrower Protection

Upon full repayment or settlement, lenders must release the pledged collateral within seven working days immediate release on the same day is encouraged wherever possible. Before auctioning pledged items due to non-repayment, lenders are required to notify borrowers or legal heirs, allowing a reasonable time for settlement. Auctions must be conducted transparently with adequate public notice, including advertisements in a regional language newspaper and a national daily. The collateral’s reserve price at auction must not fall below 90% of its current value, except after two failed auctions, where it may be reduced to 85%.

In instances of collateral loss, damage, or discrepancies observed during audits or returns, lenders are mandated to compensate borrowers or their legal heirs promptly. Moreover, if collateral release is delayed due to the lender’s reasons, compensation at the rate of ₹5,000 per day of delay must be made.

Lender Obligations and Disclosure

Loan agreements must comprehensively describe collateral, auction procedures, borrower rights for settlement, timelines for releasing collateral, and applicable charges related to assaying or auctioning. Communication must be provided in the borrower’s regional or preferred language. Lenders must also maintain proper infrastructure and security protocols to store collateral safely and restrict handling to authorised personnel. Periodic internal audits, surprise verification of pledged items, and regular reporting to supervisory boards on unclaimed collateral are essential components of compliance.

Ensuring Borrowers Benefit from Competitive Gold Loan Rates

For borrowers, obtaining the lowest Gold Loan rate requires careful attention to lender policies, transparency in valuation, and adherence to prescribed limits. A practical approach includes using an interest calculator for a Gold Loan to estimate monthly repayments and total interest payable based on the loan amount, LTV ratio, and tenure. This tool helps borrowers compare offers across lenders and choose the most economical option while ensuring loan terms comply with RBI regulations.

Conclusion

The RBI’s updated gold loan guidelines for 2025 contribute to a regulated, transparent, and secure credit system for pledged gold collateral. By setting clear limits on LTV ratios, collateral valuation, borrower assessment, equitable auction processes, and borrower protection measures. The Reserve Bank promotes trust and stability in gold-backed lending. Borrowers are advised to understand these provisions fully and utilise tools such as the interest calculator for a Gold Loan to make prudent borrowing decisions. Adhering to the RBI’s framework will help borrowers secure the lowest Gold Loan rate while protecting their interests throughout the loan lifecycle.

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ishasingh1699

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Finance

FAQs List of Coinbase Support SERVICE (24/7 Talk)

Published

4 days ago

November 21, 2025

coinbasetollfree

Reviewed
By Lucy Coll

Coinbase-Customer-Service-Support-by-Phone-1858-765-8486

Introduction

In the event that one encounters difficulties with their Coinbase account be it transactional anomalies, access impediments, or concerns regarding digital security it becomes imperative to ascertain the proper channels through which support may be expeditiously solicited. Coinbase affords users a multiplicity of remedial avenues, encompassing a continuous, 24-hour telephonic assistance service.

A recurrent query among users pertains to the operational mechanics of this support, the optimal junctures for engagement, and the anticipated procedural outcomes. This compendium of frequently asked questions endeavors to furnish lucid elucidations to the most prevalent inquiries surrounding Coinbase’s customer service apparatus. Regardless of whether one is a neophyte to the cryptographic domain or a seasoned practitioner, this guide is designed to facilitate the acquisition of assistance with both alacrity and security.

Frequently Asked Questions (FAQs) About Coinbase Support Service (24/7 Talk)

Q1. What Is Coinbase’s 24/7 Talk Support?

Coinbase’s 24/7 talk support allows users to call a support agent at any time, day or night. This means if you have trouble with your account, a payment, or need help with security, you can reach a live person who can guide you through the issue. This service is useful for urgent matters that cannot wait for email or chat replies.

Q2. How Do I Reach Coinbase Support by Phone?

To call Coinbase support, you usually go through the Help Center on the Cryptocurrency exchange

website. There, you may find an option to “Request a Call” if phone support is available for your account and region. Once you click that, Coinbase arranges a support agent to call you back. This method ensures you are reaching the real support team and not giving your number to a random person.

Q3. Is the Coinbase 24/7 Number the Same for Everyone?

No, it may not be the same for every user. The number or call-back method you get depends on:

Your geographic location
Your account type (regular user, Coinbase Pro, Coinbase One)
The type of issue you raise
Because of this, Cryptocurrency exchange often uses dynamic call‑back options rather than listing a single global number for all users.

Q4. Is There a Direct Public Phone Number Listed for Coinbase 24/7 Support?

Coinbase no longer widely publishes a fixed public phone number for all customer service calls. Instead, it prefers users to go through its Help Center to request a call. This helps reduce fraud risk and ensures users connect with genuine support agents. Be careful of unofficial numbers circulating online, as they may be scams.

Q5. How Do I Request a Support Call Back From Coinbase?

To request a call back:

Go to Coinbase Help Center while logged into your account.
Find the category that matches your problem (for example, account issues, security, transactions).
Click on “Contact Us” or “Get Help.”
Select “Request a Call” if available for your issue.
Provide your phone number and submit the request.

Coinbase support will then call you back, usually within a short time.

Q6. Do I Need to Pay for Coinbase 24/7 Support Calls?

No, Coinbase does not charge users for support calls. The call-back service is part of its customer support, and legitimate calls from Coinbase support agents are free. But you should always make sure you are calling or receiving calls from the correct source to avoid fraudulent calls that may try to scam you.

Q7. What Kind of Issues Can Be Handled Over a 24/7 Call?

You can get help for many different issues:

Account access or login problems
Identity verification or KYC issues
Payment or deposit problems
Withdrawal delays or errors
Security concerns, like 2FA or phishing
Transaction status checks
Any urgent or complicated issue that needs live assistance

Some very technical questions might be escalated, but a 24/7 agent can help guide you or pass the case on as needed.

Q8. Is 24/7 Support Available for All Coinbase Users?

Not necessarily. While Coinbase does offer 24/7 support in many places, it depends on:

Your country or region
Your user level (some features may be limited for free or new accounts)
The type of support plan you have (for example, Coinbase One or premium users may get faster service)

Always check in the Help Center to confirm whether 24/7 call-back is offered for your account.

Q9. How Can I Prepare Before the Support Call?

Preparing well can make the call faster and more effective. Here are some tips:

Write down your issue clearly (what happened, when, and how)
Have your Coinbase-registered email or phone ready
Note any transaction IDs, transaction dates, or screenshots if you can
Keep your device nearby in case you need to log in or share information
Never share your password, private keys, or one-time codes

Being ready helps you get a helpful response faster.

Q10. How Long Does It Usually Take for the Support Agent to Call Back?

The wait time for a callback can vary based on how many users are asking for help, where you are, and what kind of problem you have. In many cases, you may get a return call within minutes or up to a few hours. For urgent or high-severity cases, the response tends to be faster.

Q11. What Should I Do If the Agent Asks for My Password or Private Key?

You should never share sensitive data like your password, private keys, or wallet seed phrase. Real Coinbase support agents will never ask for this kind of personal or security information. If anyone asks for these details, it is a red flag for fraud. Politely end the call and report the number or incident to Coinbase directly via their official help portal.

Q12. Can I Use 24/7 Support for Fraud or Scam Reports?

Yes. If you believe you are being targeted by a scam or if your account has been compromised, contacting Coinbase support via the call-back option is one of the best steps to take. A support agent can help you secure your account, pause transactions, or escalate the matter to Coinbase’s security team.

Conclusion

Coinbase’s 24/7 talk support is a vital lifeline for users who need help with urgent account issues, security concerns, or transaction problems. By understanding how the call-back system works, preparing in advance, and recognizing genuine agents, you can get the help you need quickly and safely. Remember never to share passwords or private keys, and always use Coinbase’s official Help Center to start the support process. With the right approach, you can navigate issues with confidence and make full use of Coinbase’s round‑the‑clock service.

Author

coinbasetollfree

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Finance

Full List of Coinbase Help Desk Number USA Numbers

Published

4 days ago

November 21, 2025

coinbasetollfree

Reviewed
By Mila Parker

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