News
The tenth anniversary FST Awards 2010 were held on 25 March 2010 in the Nine Kings Suite at the Lancaster London Hotel, Bayswater. The event attracted 435 guests, across 43 tables, from all sectors of the financial services industry.
OmniPay's Authorisation Service won the FST Award for Best Business Continuity Implementation and was also shortlisted for the FST Award in the Best Payments Deployment Category.
The FST Awards, celebrating its tenth anniversary this year, aim to recognise excellence and innovation in the field of information technology within the UK and EMEA financial sector. These prestigious awards are designed to emphasise the importance of IT as a key driver in business and to acknowledge and reward IT specialists working within the sector. The primary criteria for judging is the delivery of definable and significant business benefits, innovation and originality of application. Project management issues, such as the scale and delivery on time and within budget, are also be taken into account.
The Best business continuity implementation award recognises the best business continuity plan to be put in place by a financial services provider. The judges considered the technological aspects of the plan and the processes for recovery. The OmniPay entry demonstrated clear planning, rational utilisation of technology, anticipated speed of recovery, the business benefits and evidence of regular testing. The category was judged against factors such as physical and online threats, compliance requirements and so-called ‘acts of God’ such as fire and flood.
OmniPay’s COO Patrick Clarke and Authorisation System Manager John Ward were at the FST Awards and John was presented with the FST Award for Best Business Continuity Implementation by Mark Evans of the award sponsor CIR and the awards host Hugh Dennis.
OmniPay recognised for expertise and innovation
Dublin, March 8 2010: Dublin, Ireland-based OmniPay Ltd. has been awarded the first ever Guiding Hand Award for Processing Excellence, presented at the Empiria Group’s European Card Acquiring Forum (ECAF), held in Berlin.
The ECAF is widely regarded as the most important European conference focusing exclusively on Merchant Acquiring, drawing over 300 acquiring professionals from Europe and beyond. At this year’s conference, the organizers launched the Guiding Hand Awards, a series of 9 awards intended to recognize merchant acquirers and 1 award to recognize Excellence in Processing.
More than just processing
In the words of the Awards' sponsors, these are 'Guiding Hand' Awards because "Guiding Hand is how the ECAF sees the Acquirers in the business: telling issuers, schemes, processors, payment service providers, etc. what is commercially possible."
The ECAF Awards acknowledged the important role of the acquiring business by highlighting the most relevant achievements in various areas of this business. OmniPay’s selection was based on its specialised expertise as a third-party processor for leading acquirers, several of whom provided outstanding references in support of OmniPay’s Award candidacy.
OmniPay’s staff and platform enable acquirers to run fast, flexible, cost-efficient acquiring businesses in any combination of currencies, countries, channels, languages and products. Today, OmniPay processes for 27 acquirers across Europe, the US, Asia and Australia, processing more than 750 million transactions per annum in 185 different currencies.
Now celebrating its 10th year as a multi-currency acquiring processor, OmniPay’s receipt of the Processing Excellence Award further validates the unmatched value that its focus, deep experience and 'Guiding Hand' approach bring to its acquirer customers.
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Case Study: Laying the foundations for profitable merchant acquiring growth at PaySquare BV
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Recruitment drive planned as profits rise at OmniPay
Sunday Business Post Article - 18th January 2009
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by Gavin Daly
OmniPay, a Dublin firm that processes credit card payments for banks around the world, has recorded sharply increased profits and plans to expand.
The firm has deals with 25 banks and handled a record 64 million transactions in December - more than two million transactions a day.
Brian Connolly, chief executive of OmniPay, said that the company's revenues and profits continued to rise last year, and that it would be hiring this year, despite the economic downturn and the global banking crisis.
The company hired about 30 new staff last year, bringing total employment to 170 people. It expects to add at least ten more staff this year. "We are slated to grow this year," said Connolly. "Everything is moving upwards - the market, the transactions, staff numbers."
OmniPay recorded pre-tax profits of €7.5 million in 2007, as revenues rose by 44 per cent to €24.5 million. While the company's accounts for the last year has not been finalised, Connolly said that business was helped by the growth in online shopping, with online transactions accounting for about 70 per cent of OmniPay's business.
"It is not all doom and gloom," said Connolly. "We are operating from the east coast of Australia to the west coast of the US - and everywhere in-between. We run everything off a single platform based in Ireland with 170 staff. From an Ireland Inc point of view, if we win more business - and we expect to - it will mean more employment."
Connolly said that the company had been relatively unaffected by the turmoil in the banking sector, and even saw "some upside" to the uncertainty in the industry.
"Our customers are high street banks, rather than investment banks that have been the worst hit by the turmoil" he said.
"Our core business is in providing services to banks, who provide them on to merchants. With the turmoil in the markets, we anticipate that banks that do their own in-house processing will question if they should be doing that or if they should hand it off to providers like us."
Connolly said there were also opportunities for OmniPay in the new geographic markets. "We have customers in the Far East, Malaysia, Brunei and Singapore," he said. The company has just hired sales staff focused on the Asia-Pacific region and the EU.
- OmniPay to adopt latest version of IST/Switch open systems payment engine from FIS
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London, UK. – (08 December, 2008) – Fidelity National Information Services, Inc. (NYSE:
FIS), a worldwide leader in processing and technology solutions for financial institutions, today
announced that OmniPay is upgrading to FIS IST®/Switch 7.6, the latest version of the credit
and debit processing solution, in preparation for meeting full compliance with the recently
released Payment Application Data Security Standard (PA-DSS).
The goal of PA-DSS is to ensure that payment applications do not store prohibited data (such as
full magnetic stripe, CVV2 or PIN data) and meet a number of other security controls in
accordance with the PCI Data Security Standard, thereby helping merchants and agents mitigate
the possibility of a security compromise.
John Ward, Authorisation System & Relationship Manager at OmniPay, explained: "We process
hundreds of millions of transactions annually for some of the world's largest financial
institutions – and compliance with PCI Security Standards is critical to our business.
"We have a great working relationship with people in FIS, and we have been closely involved in
some very successful enhancement projects with them over recent years. In addition to being
slated for PA-DSS compliance ahead of Visa's July 1, 2010 deadline, the latest version of
IST/Switch incorporates several of our suggestions. This is a testament to FIS' responsiveness to
our needs."
Dublin-based OmniPay is a leading provider of card and electronic payment processing services
to acquiring banks worldwide. Currently, the OmniPay platform supports 24 acquiring
institutions around the world.
With the ability to handle a vast array of devices, networks and host systems, IST/Switch is
flexible enough to accommodate OmniPay’s business in supporting multiple institutions,
multiple currencies, and multiple languages, as well as multiple regions and countries. That
means that IST/Switch powers authorisation for the only merchant acquiring platform that
operates globally.
Mike Haas, General Manager, of FIS' global payment software division commented: "FIS is
committed to enabling OmniPay to provide world-class processing services to financial
institutions. Keeping their platform current with compliance requirements is another example of
that commitment."
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