US Bancorp-owned Elavon has signed a major deal with Irish e-payments player Realex that will see the Irish firm provide Elavon with a fully branded, managed gateway solution for transactions.
The deal with Elavon will result in Realex deploying a localised, online, multi-channel payment gateway for businesses across the UK and Europe.
“The combination of Elavon’s acquiring experience, processing reach, and financial stability, with Realex Payments gateway expertise, fraud controls and connectivity results in a win-win for our customers,” said Guy Harris, MD and EVP Europe at Elavon.
The deal follows hot on the heels of a similar managed gateway deal last year that Realex signed with Global Payments, formerly HSBC Merchant Services.
Realex is on Fire
Realex is currently experiencing a period of exponential growth. In the last year revenue in the UK market grew by 95pc and their client base doubled to 12,500.
This growth was across all markets – direct corporate and business clients as well as managed gateway solutions.
The company also recently launched Realex Fire, a new personal payment account enabling users to lodge and withdraw funds, create a circle of people to pay, send and receive payments, operate multiple accounts and get notifications on Facebook.
Realex Payments also offers solutions for small, medium and large corporate clients – including many household names such as Virgin Atlantic, AA insurance, Aviva, Paddy Power and notonthehighstreet.com.
Commenting on the Elavon deal, Realex founder and CEO Colm Lyon said: “This is a major partnership for us; we are strategically positioned to offer our partners a holistic and compelling offering that truly enables them to grow their e-commerce business.
“We are extremely excited about the future and working with Elavon to grow our relationship, extend our reach and strengthen our strategic partnership. This announcement is further reinforcement of our commitment to providing the best managed gateway solution, not just a white label but a deep partnership that truly facilitates growth,” Lyon added.
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