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E-Clear was a British payment processor that provided merchant accounts for companies, allowing them to accept credit cards. E-Clear specialised in the travel industry in the United Kingdom. Members of the company's board included Elias Elia,
Derek Tullett TP ICAP Group plc is a financial services firm headquartered in London, United Kingdom. Its stock is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. History The company was founded by Derek Tullett in 1971 as a ...
and Sir Edward du Cann. Formed in 2002 and based in
Mayfair Mayfair is an affluent area in the West End of London towards the eastern edge of Hyde Park, in the City of Westminster, between Oxford Street, Regent Street, Piccadilly and Park Lane. It is one of the most expensive districts in the world. ...
,
City of Westminster The City of Westminster is a City status in the United Kingdom, city and London boroughs, borough in Inner London. It is the site of the United Kingdom's Houses of Parliament and much of the British government. It occupies a large area of cent ...
, the company was based in Britain, but owned by a parent company registered in Cyprus, and its chief executive Elias Elia is a Greek Cypriot.


History

The company was formed in 2002. In 2007, Deutsche Bank announced the end of its agreement for card processing with E-Clear. As a result, E-Clear began buying shares in NordFinanz, a small loss-making bank in
Bremen Bremen (Low German also: ''Breem'' or ''Bräm''), officially the City Municipality of Bremen (german: Stadtgemeinde Bremen, ), is the capital of the German state Free Hanseatic City of Bremen (''Freie Hansestadt Bremen''), a two-city-state consis ...
. By 2009, E-Clear owned 97% of the shares in the bank. In 2010, it sold the stake. In January 2010, the company was put into administration.


References

{{Reflist Companies based in the City of Westminster Financial services companies of the United Kingdom Defunct companies of the United Kingdom Financial services companies established in 2002 Financial services companies disestablished in 2010 British companies established in 2002 British companies disestablished in 2010 2002 establishments in the United Kingdom 2010 disestablishments in the United Kingdom Privately held companies of the United Kingdom Payment service providers