Cardsave

From Wikipedia, the free encyclopedia
Jump to: navigation, search
CardSave
Type Private
Industry Electronic Payment Services
Founded 1995
Headquarters Grimsby, United Kingdom
Key people Clive Kahn (CEO)
Services Payment Services
Parent WorldPay
Website www.cardsave.net

CardSave is a UK-based payment processing company. It provides online payment solutions as well as point of sale credit card processing solutions for small to medium businesses. It has been part of WorldPay since 2010.

Cardsave provides electronic Point of Sale terminals to merchants, plus a backup manual card processing machines, known as the "zip-zap" machine. The latter is available in case the former becomes faulty.

The companies head office is based in Grimsby, with additional offices in London and Nottingham.

History[edit]

Cardsave was formed in 1995 by an independent retailer to negotiate lower rates for credit card processing, their aim was to relieve small to medium businesses of the high charges that were set by the high street banks. Although they offered their services to various businesses, their main clients were tyre fitters and hairdressers.[1]

In 2007 Clive Kahn, former Chief Executive of foreign exchange company, Travelex, led a successful 72m buyout of Cardsave, backed by private equity firm, Exponet.

In March 2010 Cardsave acquired TNS, the UK POS terminal hire business of global communication, which mainly provides terminals to petrol stations.

On 21 December 2010 Cardsave was acquired by WorldPay, the UK's largest card processor. Whereas before they were partners Worldpay will now be able to improve its servicing to the small-medium business market.[2]

In November 2011 Cardsave partnered with Pennies, the electronic charity box, to launch a community initiative in Grimsby and Cleethorpes, giving customers the option to top up their bill by 25p when paying by card in local shops and restaurants and donate the 'electronic' change to local charities.

References[edit]

  1. ^ "Cardsave Deal Buyout". RJD Partners. 2004. 
  2. ^ Sophie Baker (20 December 2010). "WorldPay acquires Cardsave". FStech. 

External links[edit]