Realex in online payments deal with global gaming giant Cryptologic

11 Jan 2010

Colm Lyons’ Realex Payments has secured a major three-year contract to support one of the world’s leading online gaming giants, Cryptologic, which manages payments for 300 online casino titles, including including Party Gaming, and Virgin Games.

Founded in 1995, Cryptologic is a pioneer in the multi-billion pound global internet gaming market. 

The company is a global developer of branded online betting games and internet casino software and provides support services and manages payments for some of the world’s biggest gaming companies – including Party Gaming, and Virgin Games.

Realex Payments’ background

Realex Payments was founded in 2000 by award-winning entrepreneur, Colm Lyon, and has more than 3,500 clients across Europe. Clients include The AA, Virgin Atlantic, Vodafone and Aer Lingus, we well as a number of major gaming companies, such as Party Poker.

The deal with Cryptologic involves Realex Payments providing payment processing for Cryptologic across a variety of currencies, regions and card types, acting as a gateway service to its card-acquiring partners.

“Although we had a very tight deadline and an extensive wish list of specific requirements, Realex was able to implement the solution quickly and efficiently, meeting our demands in the time frame required,” said Kieron Nolan, director of treasury at Cryptologic.

“As well as providing an impressive cost-effective solution, Realex offered a high level of support and consultancy. Compared with other solutions on the market, Realex Payments technology and operational approach is far more advanced, modern and fitting to our needs. We receive concise and easy-to-follow monthly reports and we always deal with a very professional, prompt and responsive dedicated account manager.”

Hundreds of games

With more than 300 games, CryptoLogic has one of the most comprehensive casino suites on the internet, with award-winning games featuring some of the world’s most famous action and entertainment characters.

The company’s licensees include many top internet gaming brands, including the “big four” international operators. CryptoLogic’s leadership in regulatory compliance makes it one of the few companies with gaming software certified to strict standards similar to land-based gaming.

CryptoLogic’s common shares trade on the Toronto Stock Exchange (CRY, CXY), the NASDAQ Global Select Market (CRYP) and the main market of the London Stock Exchange (CRP).

Speaking about the deal, Realex Payments CEO and founder Colm Lyon described Cryptologic as a dynamic and fast growing company, who like Realex Payments focus on delivering innovation to their clients.

“We have grown our business by delivering best-of-breed payment processing services, which includes market-leading support and payments expertise. For Realex Payments to be selected as Cryptologic’s global payment partner ahead of an incumbent demonstrates our leadership and our ability to deliver bespoke requirements within a tight time frame,” Lyon said.

By John Kennedy

Photo: Realex Payments CEO and founder Colm Lyon

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years