Bambora
 | |
| Formerly | Beanstream, IP Payments |
|---|---|
| Company type | Private company |
| Industry | Financial services |
| Founded | 2004 in Melbourne, VIC, Australia |
| Founders |
|
| Defunct | 2020 |
| Fate | Merged |
| Successor | Worldline SA |
| Headquarters | , |
| Parent | Ingenico |
| Website | www |
Bambora, formerly Beanstream, IP Payments, and various others, was a Swedish payment service provider that provides payment processing, accounts receivable automation, and PCI DSS compliance solutions.[1] Bambora operated in Sweden, Canada, Australia, New Zealand, and the United Kingdom.
In 2012, IP Payments was listed on the Asia Pacific Deloitte Fast 500.[2]
The company expanded through acquisitions in several countries, including Canada, Australia from 2014 to 2015.[3] It was itself acquired by French based Ingenico in 2015 which was then merged with Worldline SA in late 2020.
History
[edit]Bambora was a combination of 12 financial service companies from around the world.
The oldest of these, Beanstream, was founded in 2000 in Victoria, British Columbia, by entrepreneur and military veteran Craig Thomson. It was created to facilitate online payments, and quickly expanded into the United States as one of the first gateway payment systems in North America.[4]
Meanwhile, in Australia, IP Payments – the next largest of the group – was founded in 2004 in Melbourne, Australia, by Jamie Collins, Mark Lewis, and Anthony Fulton.[5] The company provided customised accounts receivable, payments, and PCI DSS compliance solutions. Headquartered in Sydney, it serviced over 3500 enterprises, including global organisations.[6]
Bambora itself was founded in 2015 in Stockholm, Sweden, by Johan Tjärnberg.[7][8] It began as an integration of four global payment-processing companies, including IP Payments (acquired in August 2015)[9] and Beanstream (acquired in September 2015, but which, for marketing reasons, did not fully re-brand until 2017).[7][4]
Two years later, Bambora was acquired by Ingenico Group of France,[10] which subsequently merged with Worldline SA in late 2020.[11] As of 2024, Bambora continued to operate under its own name for some time, but has since been rebranded as "a Worldline brand".
Services
[edit]Bambora offered services which customised and automated existing account receivables operations, including third-party software, as well as merchant level 1 PCI DSS compliance solutions and payment gateways to clients who process credit card transactions.[6]
Bambora services included multiple payment methods (credit card, charge card, direct debit, direct credit, BPay and Over-the-Counter) across multiple payment channels (Internet, mobile, PS3, call centre, batch and recurring) utilising multiple payment types (purchase, refund, pre-auth and completion).[12]
In September 2012, Bambora (then IP Payments) released a study of PCI compliance in Australia[13]
See also
[edit]References
[edit]- ^ "IP Payments > Solutions". Archived from the original on 25 April 2012. Retrieved 12 April 2012.
- ^ "IP Payments again makes Deloitte Fast 50". Retrieved 12 April 2012.
- ^ "Bambora Lands in North America". Business Wire. 10 May 2017.
- ^ a b Wanless, Tony (5 June 2017). "Victoria's Beanstream payments firm to become Bambora's N.A. hub". Financial Post.
- ^ "Swedish payments group expands through acquisition in Asia". nordiccapital.com. Nordic Capital. 7 August 2015. Retrieved 29 August 2022.
- ^ a b "Visa's Merchant Levels". Archived from the original on 13 April 2012. Retrieved 12 April 2012.
- ^ a b "The Road to Bambora". Resource Centre – Bambora. 18 January 2019. Retrieved 1 July 2024.
- ^ Tsnompilantze, Maria (12 September 2022). "Trustly's Johan Tjärnberg to focus on the shift towards open banking during his keynote at SBC Summit Barcelona". SBCNEWS. Sports Betting Community. Retrieved 4 October 2022.
- ^ "Acquisitions by Bambora". tracxn.com. Tracxn Technologies. 9 July 2022. Retrieved 29 August 2022.
- ^ Espinoza, Javier (20 July 2017). "Ingenico buys Swedish payments group Bambora for €1.5bn". ft.com. Financial Times. Retrieved 29 August 2022.
- ^ Manikandan, Aswin (5 November 2020). "Worldline, Ingenico merger to aid combined entity's foray into new businesses in India". The Economic Times. Bennett, Coleman & Co. Ltd. Retrieved 29 August 2022.
- ^ "Ensuring credit card compliance - Government News: Government News and Issues". Government News. 18 February 2011. Archived from the original on 31 March 2012. Retrieved 25 February 2012.
- ^ "Australia's credit card security problem". IP Payments. 9 November 2012. Archived from the original on 11 December 2012. Retrieved 12 December 2012.