NOMAD PAYMENTS SURPASSES 1 MILLION TRANSACTIONS PER MONTH
3 July 2007
Europe’s leading prepaid and debit payments processor, Nomad Payments, is now handling well over 1 million financial transactions per month in the UK and Ireland. A significant increase from the 20,000+ transactions per month processed in the same period last year, and a clear indicator of the success of the processing division of the business which was launched only two years ago.
With research (Boston Consulting Group) predicting that the UK is set to become the largest prepaid card market in Europe, the huge advances made in the last year mean that Nomad Payments is ideally positioned to support the growth in the industry and work closely with its partners to facilitate innovative solutions.
John Yeomans, Chief Executive, Nomad Payments commented, “Reaching the 1 million financial transactions per month threshold is a significant achievement; not only for Nomad, but also for the industry, as it demonstrates a definite culture shift and growing consumer acceptance of the prepaid proposition.”
Nomad Payments made huge advances in the prepaid market in 2006 with 40 new programmes introduced and nine additional customers live on prepaid projects. Over the last six months Nomad Payments, a MasterCard approved processor, implemented open loop prepaid projects for companies such as IDT Financial Services, Tuxedo Money Solutions, Think Money, Chequepoint and CredEcard. In addition Nomad Payments supports a wide range of debit programmes for customers such as the Bank of Ireland and the Islamic Bank of Britain.