CardSave is a UK-based

payment processing A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts. They are usually broken dow ...

company, the organisation was rebranded to WorldPay in February 2014 after being acquired by WorldPay in December 2010. It provides an online

payment gateway A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payment processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The ...

and

point of sale The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice f ...

credit card processing for small to medium businesses.

Overview

WorldPay (formerly 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 Grimsby or Great Grimsby is a port town in Lincolnshire, England with a population of 86,138 (as of 2021). It is located near the mouth on the south bank of the Humber that flows to the North Sea. Grimsby adjoins the town of Cleethorpes dir ...

, England, with offices in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

and

Nottingham Nottingham ( , East Midlands English, locally ) is a City status in the United Kingdom, city and Unitary authorities of England, unitary authority area in Nottinghamshire, East Midlands, England. It is located south-east of Sheffield and nor ...

. However, since the merge with WorldPay they now have offices in

Gateshead Gateshead () is a town in the Gateshead Metropolitan Borough of Tyne and Wear, England. It is on the River Tyne's southern bank. The town's attractions include the twenty metre tall Angel of the North sculpture on the town's southern outskirts, ...

Cambridge Cambridge ( ) is a List of cities in the United Kingdom, city and non-metropolitan district in the county of Cambridgeshire, England. It is the county town of Cambridgeshire and is located on the River Cam, north of London. As of the 2021 Unit ...

and

Manchester Manchester () is a city and the metropolitan borough of Greater Manchester, England. It had an estimated population of in . Greater Manchester is the third-most populous metropolitan area in the United Kingdom, with a population of 2.92&nbs ...

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

hairdresser A hairdresser is a person whose occupation is to cut or style hair in order to change or maintain a person's image. This is achieved using a combination of hair coloring, haircutting, and hair texturing techniques. A hairdresser may also be re ...

s. In 2007 Clive Kahn, former Chief Executive of

foreign exchange The foreign exchange market (forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. By trading volume, it i ...

company

Travelex Travelex International Limited is a foreign exchange company founded by Lloyd Dorfman and headquartered in Peterborough, United Kingdom. Its main businesses are foreign currency exchange, issuing prepaid credit cards for use by travellers, sup ...

, led a £72m buyout of Cardsave, backed by

private equity firm A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...

, Exponet. In March 2010 Cardsave acquired TNS, a UK POS terminal hire business, which mainly provides terminals to

petrol station A filling station (also known as a gas station [] or petrol station []) is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold are gasoline (or petrol) and diesel fuel. Fuel dispensers are used to ...

s. On 21 December 2010 Cardsave was acquired by a former partner company, the UK card processor WorldPay. Cardsave was re-branded to WorldPay in February 2014.

References

{{Reflist

External links

Cardsave Official WebsiteCard Payment Machine Uk
Companies based in Grimsby Payment service providers 2010 mergers and acquisitions