Cardsave

CardSave
TypePrivate
IndustryElectronic Payment Services
Founded1995
Headquarters
Grimsby
,
United Kingdom
Key people
Clive Kahn (CEO)
ServicesPayment Services
ParentWorldPay
Websitewww.cardsave.net

CardSave was a British payment processing company based in Grimsby. It was renamed as WorldPay in February 2014 after being acquired by WorldPay in December 2010.

It has head office is in Grimsby, England, with offices in London and Nottingham. However, since the merge with WorldPay they now have offices in Gateshead, Cambridge and Manchester as well.

History

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.[2][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.[3]

Cardsave was re-branded to WorldPay in February 2014.

References

  1. ^ "Cardsave Deal Buyout". RJD Partners. 2004. Archived from the original on 8 August 2014. Retrieved 6 August 2014.
  2. ^ https://www.ft.com/content/98dbe7d8-e22a-11df-9233-00144feabdc0
  3. ^ Sophie Baker (20 December 2010). "WorldPay acquires Cardsave". FStech.

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