Company:SafeCharge
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| Type | Privately held company |
|---|---|
| Industry | Payment services |
| Founded | 2006 |
| Founder | Teddy Sagi David Avgi |
| Headquarters | Montreal, |
Number of locations | 13 sites |
Area served | Worldwide |
| Services | Omnichannel payment services, fraud prevention solutions and connection to payment method |
Number of employees | 400 (2019)[1] |
| Website | www.safecharge.com |
SafeCharge, a Nuvei company, is a global payments technology company that provides omnichannel payment services, fraud prevention solutions and connection to payment methods. The company counts 400+ employees, 54% of them are in development and tech support. Its headquarters is in Montreal and it has offices in Israel, United Kingdom , Netherlands, Hong Kong, Italy, Austria, China , Cyprus, Bulgaria, Guernsey, Mexico, Singapore and in the United States .[2]
SafeCharge has payment processing (gateway) licenses from the main card schemes in Europe: Visa and Mastercard. It connected with 300+ global and region-specific alternative payment methods, such as: WeChat Pay and Alipay (China), Apple Pay (US), iDeal (Holland), POLi (Australia), PayPal (global), and Amex (global).[3]
In 2013, SafeCharge received principal membership status for merchant acquiring by Visa and Mastercard Europe. It is an acquiring bank and licensed as a member of Mastercard as of 2014 and of Visa as of 2015.
In August 2019 SafeCharge was acquired by Nuvei, a privately owned electronic payment processing company, for the amount of US$889 million.
History
SafeCharge was co-founded by Teddy Sagi and David Avgi in 2006.[4]
The company began trading on the London Stock Exchange in 2014.[5] At that time, SafeCharge International had revenues of $43.18 million,[6] and it raised $126 million from public offerings with its IPO pricing.[4] That was the second largest IPO out of the main Israeli companies going public in 2014.[7]
In 2017, SafeCharge International expanded to the Asian markets via a partnership with 2C2P,[6] and working with WeChat Pay in London’s Camden market.[8]
In 2018 The company was authorized as a payment institution by the UK Financial Conduct Authority.[9]
In 2019, Nuvei Corporation announced its acquisition of SafeCharge, and agreed to pay US$889 million in cash for it.[10] The deal saw Nuvei pay $5.55 for each SafeCharge share, representing a 25% premium to the London-listed company's stock.[11]
In August 2019, Nuvei completed the acquisition. In the same month, the AIM Stock Exchange in London agreed to SafeCharge's application for the cancellation of the admission to trading SafeCharge shares on AIM.[12]
In February 2020, Credit card company Max signed a deal with SafeCharge to acquire control of CreditGuard.[13]
References
- ↑ ""SafeCharge was my baby"". May 23, 2019. https://en.globes.co.il/en/article-safecharge-was-my-baby-1001287009.
- ↑ ""SafeCharge was my baby"" (in he). 2019-05-23. https://en.globes.co.il/en/article-safecharge-was-my-baby-1001287009.
- ↑ "WeChat partners with SafeCharge for in-store acceptance across Europe" (in en). PaymentsSource. https://www.paymentssource.com/news/wechat-partners-with-safecharge-for-in-store-acceptance-across-europe.
- ↑ 4.0 4.1 "Teddy Sagi's SafeCharge raises $126m on AIM - Globes" (in he). https://en.globes.co.il/en/article-teddy-sagis-safecharge-raises-126m-on-aim-1000928496.
- ↑ Reuters Editorial. "Payment company SafeCharge to list on London's AIM" (in en-GB). U.K.. https://uk.reuters.com/article/uk-safecharge-ipo/payment-company-safecharge-to-list-on-londons-aim-idUKBREA2H0AN20140318.
- ↑ 6.0 6.1 "SafeCharge Three Years After IPO | Payment Consultants and Interim Managers" (in en-US). Payment Consultants and Interim Managers. 2017-06-05. https://gropay.com/payments/safecharge-three-years-after-ipo/.
- ↑ Armstrong, Ashley (2014-02-11). "Israeli tech start-ups join London IPO wave" (in en-GB). ISSN 0307-1235. https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10632166/Israeli-tech-start-ups-join-London-IPO-wave.html.
- ↑ "SafeCharge, Camden Market team up to offer WeChat Pay in the UK" (in en). https://thepaypers.com/news/safecharge-camden-market-team-up-to-offer-wechat-pay-in-the-uk--770942.
- ↑ "UK Financial Conduct Authority awards license to SafeCharge - Globes" (in he). https://en.globes.co.il/en/article-safecharge-awarded-license-by-uks-financial-conduct-authority-1001219852.
- ↑ PYMNTS (2019-05-22). "Nuvei To Acquire SafeCharge For $889M" (in en-US). https://www.pymnts.com/news/partnerships-acquisitions/2019/nuvei-to-acquire-safecharge/.
- ↑ Orbach, Meir (2019-08-01). "Nuvei Completes $889 Million Acquisition of Paytech Company SafeCharge". https://www.calcalistech.com/ctech/articles/0,7340,L-3767552,00.html.
- ↑ "Scheme of Arrangement becomes Effective - RNS - London Stock Exchange". https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SCH/14172830.html.
- ↑ "Max buys CreditGuard from SafeCharge for NIS 70m" (in he). 2020-02-09. https://en.globes.co.il/en/article-max-buys-creditguard-from-safecharge-for-nis-70m-1001317842.
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