Worldpay Group: Difference between revisions
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{{Infobox company |
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#REDIRECT [[RBS WorldPay]] |
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| name = WorldPay |
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| logo = [[File:World Pay.png]] |
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| type = [[Privately held company|Private]] |
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| foundation = 1989 (as Streamline) |
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| location_city = |
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| location_country = |
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| industry = Electronic Payment Services |
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| products = |
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| services = [[Payment Service Provider|Payment Services]] |
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| parent = Consortium of [[Advent International]] and [[Bains Capital]] 80.01%<br>[[The Royal Bank of Scotland Group]] 19.99% |
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| homepage = [http://www.rbsworldpay.com www.rbsworldpay.com] |
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| intl = yes |
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}} |
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'''WorldPay''' (formerly '''RBS WorldPay''') is a payment processing company. It provides payment services for mail order and internet retailers, as well as point of sale transactions. Customers are mainly multinational, multichannel retailers. RBS WorldPay started as an [[electronic payment]] provider called Streamline in 1989 but has extended into Mail Order/Telephone Order, "unattended" payments and handling secure payments over the internet through merger and acquisition of several other companies.<ref>[http://www.rbsworldpay.com/about_us/index.php?page=history&c=WW RBS WorldPay - About Us]</ref> |
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RBS WorldPay first provided internet payment services in 1994, making it one of the first providers of such services in the world. It adopted the name of its parent company into its brand in April 2009 and was merged with sister companies Streamline, Streamline International, WorldPay, Payment Trust, Bibit, RiskGuardian and RBS Lynk on 3 June 2009.<ref>[http://www.rbsworldpay.com/media/index.php?page=archive&sub=rbs&c=WW RBS WorldPay - Media Centre]</ref> |
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On 3 November 2009 it was announced that RBS WorldPay had to be sold by the RBS Group despite being a very profitable business, as this was part of the terms negotiated to join the UK Government's asset protection scheme. The company was said to have had around 40 interested buyers and the sale was planned to be completed by the end of April 2010.<ref>[http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7050315.ece RBS starts auction for Williams & Glyn's bank] Marcus Leroux. The Times. 4 March 2010</ref>. On 6 August 2010, Advent International and Bain Capital agreed to acquire WorldPay for £2.025bn including a £200m contingent consideration. The RBS group will retain a 19.9% stake in the newly-independent business.<ref>[http://www.pehub.com/79205/rbs-announces-worldpay-sale/ RBS Announces WorldPay Sale] PEHub. August 2010</ref> |
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The sale completed on 1 December 2010. RBS WorldPay will be renamed [[WorldPay]] as part of the deal.<ref>{{cite web | url =http://www.rbsworldpay.com/media/index.php?page=archive&sub=rbs-complete-sale-of-rbsworldpay&c=UK | title =RBS completes sale of RBS WorldPay |
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| author =RBS WorldPay | date =1 December 2010 | work = | publisher = | accessdate = 25 January 2011}}</ref> |
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==November 2008 hacking== |
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On 11 November 2009, eight Eastern Europeans were indicted in connection with the 8 November 2008 hacking of Atlanta-based Lynk Systems, Inc, which had recently been rebranded as RBS WorldPay (US), which led to them stealing US$9 million from the company.<ref>[http://www.securecomputing.net.au/News/160301,international-cybergang-charged-with-rbs-worldpay-hack.aspx Secure Computing, ''International cybergang charged with RBS Worldpay hack'']</ref><ref>[http://threatpost.com/en_us/blogs/us-takes-down-9-million-rbs-worldpay-hacking-ring-111009 ThreatPost, ''U.S. Takes Down $9 Million RBS WorldPay Hacking Ring'']</ref> |
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==References== |
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<references/> |
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== External links == |
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* [http://www.rbsworldpay.com/ rbsworldpay.com] |
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{{Royal Bank of Scotland Group}} |
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{{Euro-bank-stub}} |
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[[Category:Royal Bank of Scotland Group]] |
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[[fr:Bibit]] |
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[[uk:Bib-it]] |
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Revision as of 13:49, 13 March 2011
| File:World Pay.png | |
| Company type | Private |
|---|---|
| Industry | Electronic Payment Services |
| Founded | 1989 (as Streamline) |
| Headquarters | United States  |
| Services | Payment Services |
| Parent | Consortium of Advent International and Bains Capital 80.01% The Royal Bank of Scotland Group 19.99% |
| Website | www.rbsworldpay.com |
WorldPay (formerly RBS WorldPay) is a payment processing company. It provides payment services for mail order and internet retailers, as well as point of sale transactions. Customers are mainly multinational, multichannel retailers. RBS WorldPay started as an electronic payment provider called Streamline in 1989 but has extended into Mail Order/Telephone Order, "unattended" payments and handling secure payments over the internet through merger and acquisition of several other companies.[1]
RBS WorldPay first provided internet payment services in 1994, making it one of the first providers of such services in the world. It adopted the name of its parent company into its brand in April 2009 and was merged with sister companies Streamline, Streamline International, WorldPay, Payment Trust, Bibit, RiskGuardian and RBS Lynk on 3 June 2009.[2]
On 3 November 2009 it was announced that RBS WorldPay had to be sold by the RBS Group despite being a very profitable business, as this was part of the terms negotiated to join the UK Government's asset protection scheme. The company was said to have had around 40 interested buyers and the sale was planned to be completed by the end of April 2010.[3]. On 6 August 2010, Advent International and Bain Capital agreed to acquire WorldPay for £2.025bn including a £200m contingent consideration. The RBS group will retain a 19.9% stake in the newly-independent business.[4]
The sale completed on 1 December 2010. RBS WorldPay will be renamed WorldPay as part of the deal.[5]
November 2008 hacking
On 11 November 2009, eight Eastern Europeans were indicted in connection with the 8 November 2008 hacking of Atlanta-based Lynk Systems, Inc, which had recently been rebranded as RBS WorldPay (US), which led to them stealing US$9 million from the company.[6][7]
References
- ^ RBS WorldPay - About Us
- ^ RBS WorldPay - Media Centre
- ^ RBS starts auction for Williams & Glyn's bank Marcus Leroux. The Times. 4 March 2010
- ^ RBS Announces WorldPay Sale PEHub. August 2010
- ^ RBS WorldPay (1 December 2010). "RBS completes sale of RBS WorldPay". Retrieved 25 January 2011.
- ^ Secure Computing, International cybergang charged with RBS Worldpay hack
- ^ ThreatPost, U.S. Takes Down $9 Million RBS WorldPay Hacking Ring
External links
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