Cardsave

From Wikipedia, the free encyclopedia
Jump to: navigation, search
CardSave
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 an online payment gateway and point of sale credit card processing for small to medium businesses. It was acquired by WorldPay in 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 in Grimsby, England, with 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 reduce the processing charges that were set by the main commercial 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 £72m buyout of Cardsave, backed by private equity firm, Exponet.[citation needed]

In March 2010 Cardsave acquired TNS, a UK POS terminal hire business, which mainly provides terminals to petrol stations.[citation needed]

On 21 December 2010 Cardsave was acquired by a former partner company, the UK card processor WorldPay.[2]

In November 2011 Cardsave and the electronic microdonation company Pennies launched 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.[citation needed]

References[edit]

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

External links[edit]