Global Processing Services (GPS) strengthens its advisory and leadership team for its next phase of growth

  • GPS recently received investment of £44 million from private equity firm Dunedin to support the company’s next phase of the growth
  • To support its expansion GPS announces several strategic appointments

September 2018, LONDON: Global Processing Services (GPS) today announces strategic appointments to further support its next phase of growth and expansion plans.

Since the beginning, GPS has built a different kind of issuer processing platform, one that allows flexibility, speed to market and enables fintechs to push the boundaries to innovate. Its GPS Apex platform and its team of experts continue to be the preferred choice for many banks, non-banks and fintechs, with significant strength in revenues growing 150% YoY since 2016.

To lead the company into the next chapter of growth, GPS is delighted to announce the appointment of John Chaplin as Chairman. He has a history of senior roles at Visa and First Data and is currently an active participant in private equity investment in payments as well as being the organiser of the Global Payments Innovation Jury which provides unique insights into how the payments market is changing.

John Chaplin commented, “I really admire what the team at GPS has done so far especially in powering the next generation of major players in payments. I am excited about the company getting to the next level by expanding both our geographic reach and the range of clients that we serve. The GPS formula of flexibility, functionality and speed to market is exactly what clients are looking for.”

The company will also be strengthening its leadership team with Keith Butcher, joining as Chief Financial Officer. A highly experienced CFO, Keith strengthens the GPS leadership team with 17 years of delivering business growth, transformational acquisitions and in creating shareholder value in technology-based businesses. He combines hands on management skills with strategic thinking and strong financial controls managing large international finance teams.

Keith was previously CFO at Paysafe for five years during its period of rapid growth, which included management of the FCA regulated NETELLER e-wallet business and oversaw the acquisition of Skrill in 2015 which took Paysafe into the FTSA250. Previously he was CFO of online payments company DataCash for six years where the company grew substantially before being acquired by MasterCard.

Commenting on his appointment, Keith Butcher said; “It’s an exciting time to be joining GPS as the company develops and implements its ambitious growth plans. GPS has an outstanding reputation within the payments industry for innovation and I believe it’s poised to become the global leader in its space.”

Newly appointed CEO at Global Processing Services, Joanne Dewar said, “I am delighted to have been joined by both John as Chairman and Keith as CFO. Both John and Keith bring a wealth of payments experience and will provide invaluable guidance as we progress the growth agenda for GPS whilst continuing to deliver the innovative payment processing solutions that our clients and partners have come to expect.”

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Added note to editors:

About Global Processing Services

Global Processing Services (GPS) is the issuer processor enabling many of today’s most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or pre-paid card transaction globally.

GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.

At the heart of its capability is GPS Apex, its single global issuer processing platform. Built entirely by its own payment experts, GPS Apex offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers.

It has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies, enabling its clients to innovate and deliver exciting new value propositions for end users around the world.

For more information: http://globalprocessing.net/

For media enquiries:
Nim Haas | Head of Marketing | nhaas@globalprocessing.net

Global Processing Services Appoints Kevin McAdam as Vice President of Card Services and Global Strategy

01 October 2018: Global Processing Services (GPS), the issuer processor enabling next-generation payment technology for banks, non-banks and Fintechs, today announced the appointment of Kevin McAdam as VP Card Services and Global Strategy. Kevin brings to the team more than 20 years’ experience in strategy, marketing, product development and regulation across Payment Solutions, Prepaid and Financial Services.

Kevin joins Global Processing Services from allpay, where he was Director of Prepaid and Compliance, responsible for developing the business strategy for Prepaid expansion within the UK and globally, managing the existing portfolio across the business within the public and private sector. Parallel to this, Kevin was in charge of leading the business compliance team, covering all aspects of accreditation for card manufacture and bureau, ISO standards and FCA for Prepaid licensing and Issuance.

During his time at allpay, he led a cross-functional project and business solutions team on the development of a Prepaid IT platform, to serve existing and new opportunities with Government and Local Authorities. Kevin played a key role in gaining its e-Money license, and regulation requirements to enable the business to offer Prepaid solutions in new markets.

Prior to allpay, Kevin was a Consultant, Capital Markets Trading, at Canadian Imperial Bank of Commerce based in Canada, where he held an advisory role in the development of new products and services within the financial services sector providing industry, product and project management expertise across the business divisions within the bank.

Kevin has also held executive strategic roles in a variety of companies, such as VP Business Development Americas at International Currency Exchange (ICE), Director of Financial Services at Thomas Cook for North America and Head of Marketing and Travel Services at the Post Office.

Of his new appointment with Global Processing Services, Kevin says: “The demand for alternative innovative payment methods is growing exponentially and GPS brings unique technologies and capabilities to this domain. Our ambition is to make GPS a ubiquitous part of consumers future payment experiences on a global scale and I’m excited to be part of it.”

Neil Harris, Chief Commercial Officer commenting on the appointment, says, ‘We are delighted to welcome Kevin on board. He is an accomplished leader in our sector with proven expertise and joins GPS at a pivotal time. His immediate focus areas will be on assessing routes to market and business growth opportunities in South East Asia, India, and North America.”

--ENDS--

NOTE TO EDITORS

About Global Processing Services

Global Processing Services (GPS) is the issuer processor enabling many of today’s most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or prepaid card transaction globally.

GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.

At the heart of its capability is GPS Apex, its single global issuer processing platform. Built entirely by its own payment experts, GPS Apex offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers.

It has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies, enabling its clients to innovate and deliver exciting new value propositions for end users around the world.

For more information: http://globalprocessing.net/

Media enquiries:

Nim Haas | Head of Marketing | nhaas@globalprocessing.net

NBPCA Blog: Collaboration and Innovation with our Partners Across the Pond

Brian Tate, President & CEO, Network Branded Prepaid Card Association (NBPCA): Last week I was very fortunate to attend the Prepaid International Forum (PIF) in the United Kingdom. I was invited by Craig James, PIFs Chairman, and his colleague Diane Brocklebank, PIF’s Commercial Director. Craig is the Founder and CEO of Neopay and is an NBPCA Board Member... Read the full blog 

PIF in the News: Appetite for Innovation is Driving ‘Brexit-Proof’ Boom in Fintech

Finance Monthly: The UK’s passion for innovation means it is now seen as a global leader in the development of financial services that are powered by prepaid technology, according to data released by Prepaid International Forum (PIF).

PIF, the not-for-profit trade body representing the prepaid sector, reports that the percentage of UK adults using tech-based financial services has risen to 42% (up from 14% in 2015). The UK is at the forefront of this growing market in Europe, ahead of Spain (37%) and Germany (35%). The UK is third globally to only China (69%) and India (52%). Read the full article 

Paysafe: How the growth of challenger banks has refocused consumer appetite for prepaid cards

Sara Rita, VP, Paysafe Issuing Europe

One of the greatest shifts in financial services in the past five years has been the emergence of challenger banks. These new competitors to high street incumbents have gained traction in the market through offering the first legitimate alternative to high street financial services for decades, if not longer, and appear to be here to stay.

As the world moves to full adoption of digital and mobile services, there is a prevailing thought in some quarters that digitally native challenger banks already hold an edge over the incumbents when it comes to long term prosperity in the banking industry. Read the full article 

PIF announces agenda for its twelfth AGM

The future for the high-growth prepaid and fintech sectors takes centre stage on 19-20 September 2018

PIF, the not-for-profit industry body representing the prepaid sector, has released details of its twelfth annual AGM & Summit. The event will be held at Lainston House in Winchester on 19-20 September.

Now in its twelfth year, the event brings together organisations from the high-growth prepaid and fintech sectors to explore the opportunities and the future for the industry. Delegates will hear from a stellar line up of fintechs who are using prepaid technology as a driving force for innovation in financial services which meet ever-evolving customer needs, and how new and revised regulation is shaping the industry.

Attendees joining the member-only AGM from 2:00-5:00pm on 19 September will be brought up to date on how and where PIF is engaged with tackling the multitude of issues facing the industry, delivering advocacy wins for PIF members and the industry,

Confirmed speakers and panellists include:

  • Muhammad Asim, CEO, Arro Money
  • Daniel Blondell, Chief Operating Officer, McLEAR
  • Timothy Poole, International Trade Advisor, Department for International Trade
  • Tim Fouracre, Founder & CEO, Countingup
  • Chet Behl, General Counsel, New Payment System Operator 
  • Paul Swinton, CEO, B4B Payments
  • Jason Field, Director, Business Development, Mastercard
  • Kate Johnson, Partner, Osborne Clarke
  • AnaLiza Grandner, Director of Private Label Banking, The Bancorp
  • Peter Sidenius, Director, Edgar, Dunn & Company
  • Siobhan Moore, Partner, Locke Lord LLP
  • Judith Rinearson, Partner, K&L Gates LLP
  • Brian Tate, President & CEO, NBPCA
  • Samee Zafar, Director, Edgar, Dunn & Company 
  • Dr Hartwig Gerhartinger, Vice President, Legal & Regulatory, Deputy General Counsel, Paysafe 
  • Craig James, CEO, Neopay

The event runs from 2pm on Wednesday 19 September (or from 7pm for non-members) until 5pm on Thursday 20 September.

To learn more and to register www.prepaidforum.org/pif-agm-summit-2018

PIF in the News: UK’s Appetite For Innovation Is Driving A ‘Brexit-Proof’ Boom In Fintech And Prepaid Sectors

Global Banking & Finance Review: The UK’s passion for innovation means it is now seen as a global leader in the development of financial services that are powered by prepaid technology, according to data released by Prepaid International Forum (PIF).

Read more

PIF: UK’s appetite for innovation is driving a “Brexit-Proof” boom in fintech and prepaid

The UK’s passion for innovation means it is now seen as a global leader in the development of financial services that are powered by prepaid technology, according to data released by Prepaid International Forum (PIF).

PIF, the not-for-profit trade body representing the prepaid sector, reports that the percentage of UK adults using tech-based financial services has risen to 42% (up from 14% in 2015).  The UK is at the forefront of this growing market in Europe, ahead of Spain (37%) and Germany (35%).  The UK is third globally to only China (69%) and India (52%).

Fueling this growth in the UK is prepaid, which has become a driving force for the fintech companies who are rapidly transforming the way we pay and get paid.  The prepaid sector in Europe is growing faster than anywhere else in the world (up 18% since 2014 compared to just 6% growth in the US) is now worth $131bn*.

Experts believe that the UK’s passion for innovation may help to offset the potential negative effects of a no-deal Brexit, should UK financial service providers lose its right of automatic access to EU markets.

Diane Brocklebank, spokesperson for PIF, says:

“The UK is a globally significant player in the creation of prepaid-enabled financial services with consumers keen to adopt new and innovative services and a growing industry of experts with the knowledge needed to develop such products and bring them to market.

“In a global sector, the UK stands out as being a key market and one that should retain its prized status even if it loses its financial passporting rights as a result of a no-deal Brexit.”

The UK’s status in prepaid is significant as it is a sector that is growing much faster than other financial services.  In Europe, the 18.6% growth in prepaid since 2014, compares to just 7.8% growth in consumer debit and 5.8% growth in consumer credit markets*.

Diane Brocklebank, continues:

“Prepaid and Fintech are the areas where people looking to invest in financial service businesses are seeing the most potential.  This is being driven by increased dissatisfaction with mainstream financial services and a desire for greater innovation and flexibility, particularly amongst consumers looking for lower costs and fees as well as smartphone accessible products.

“The UK’s status as a global player is therefore crucial to it continuing to be seen as a key market for such investment. To maintain this, it must continue to be a positive environment for innovation with a supportive regulatory environment and strong skills base.”

NOTES TO EDITORS

*Mastercard Global Prepaid Sizing Study 2016

About PIF

The Prepaid International Forum (PIF) is the not-for-profit industry body representing organisations who are regulated under e-money and payment services legislation and who operate in the high-growth prepaid and fintech sectors. Prepaid technology underpins a vast range of financial products, from everyday payment accounts and challenger bank accounts to corporate incentive and expense management solutions. Driven by a belief that prepaid delivers a wealth of financial and social benefits, PIF works to protect and advance prepaid as a driving force for innovation in financial services.

To learn more about PIF visit www.prepaidforum.org and follow us @prepaidintforum

For further information

Laura Connelly
PR Agency One
T: 0161 871 9140
E: laura@pragencyone.co.uk

Steve Leigh
PR Agency One
T: 0161 871 9140
M: 07734 805 499
E: steve@pragencyone.co.uk

FCA announces creation of new Global Financial Innovation Network

07 August 2018: The Financial Conduct Authority (FCA) has today announced the creation of the Global Financial Innovation Network (GFIN), in collaboration with 11 regulators and related organisations. It builds on the FCA's proposal earlier this year to create a 'global sandbox'.

The network seeks to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas. It will also create a new framework for cooperation between financial services regulators on innovation related topics, sharing different experiences and approaches.

View the full press release here

Global Processing Services joins the Women in Finance Charter

July 2018, London: A further 68 companies have signed up to HM Treasury's Women in Finance Charter, including Global Processing Services, J.P. Morgan, Bupa, Admiral Group, Equifax and Investec Asset Management taking the total number of signatories to 273. This means that the Charter now covers 760,000 financial services employees in the UK.

John Glen, Economic Secretary to the Treasury said: "From banking to asset management, too few women get to the top in financial services. That's why it's so important that firms sign our Charter and commit publicly to take action. It's not just the morally right thing to do; a balanced workforce is good for business, for customers, and for profitability too."

"I commend our new signatories for taking a step in the right direction, but of course there is more to do. I urge firms who've not already signed our Charter to join us in building a more representative and inclusive industry. "

As recommended in Jayne-Anne Gadhia's review into the representation of women in financial services, the Women in Finance Charter asks firms to commit to four industry actions to prepare their female talent for leadership positions:

  • Having one member of our senior executive team who is responsible and accountable for gender diversity and inclusion
  • Setting internal targets for gender diversity in our senior management
  • Publishing progress annually against these targets in reports and on our website
  • Having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity

Joanne Dewar, CEO of Global Processing Services (GPS) comments: 

"At GPS we are proud to be leading the way in diversity across all levels and all departments. Signing up to the Charter further demonstrates our commitment in supporting diversity and gender inclusion both within our company and in the payments industry as a whole."

Further information

272 firms have now signed the Women in Finance Charter. The 67 new firms that signed the Charter between 1 March 2018 and 30 June 2018 are:

  • Admiral Group
  • AE3 Media
  • Armstrong Wolfe
  • Australia and New Zealand Banking Group Limited
  • Barrington Hibbert Associates
  • BNP Paribas Personal Finance
  • BondMason
  • Bovill Ltd
  • Bower Retirement
  • Brooks Macdonald plc
  • Bupa
  • Canada Life
  • Coventry Building Society
  • Daiwa Capital Markets Europe Ltd
  • EIS Association
  • Ellis Davies Financial Planning Ltd
  • Engage Financial Services Ltd
  • Equifax Ltd
  • Evolution Financial Planning
  • Fintech Strategic Advisors Ltd
  • Fintellect Recruitment
  • First Wealth LLP
  • Flood Re Ltd
  • Foresight
  • Franklin Templeton Investments
  • GAM
  • Global Processing Services
  • Goji Investments
  • Grant Thornton
  • Hinckley and Rugby Building Society
  • HUBX
  • ICAEW
  • Intermediate Capital Group
  • Investec Asset Management Limited
  • J. P. Morgan
  • Kames Capital plc
  • Lazard & Co Limited
  • Lazard Asset Management Limited
  • LifeSearch
  • Magenta Financial Planning
  • Marsh Ltd
  • Medianett Ltd
  • Mortgages for Business Ltd
  • MT Finance Ltd
  • Mustard Seed Impact Ltd
  • National Association of Commercial Finance Brokers
  • Nomura International
  • PIMCO
  • Prytania Solutions Limited
  • Pukka Insure Ltd
  • Rathbone Brothers plc
  • Scottish Equity Partners
  • SDB Bookkeeping Services
  • Semper Capital Management
  • Shepherd Compello Ltd
  • St. James’s Place plc
  • Stonehaven International
  • Sussex Independent Financial Advisers Ltd
  • Tesco Underwriting
  • The Meyer Partnership
  • The Mortgage & Insurance Bureau
  • TP ICAP
  • UK Government Investments
  • UniCredit Group
  • Vanguard Asset Services Limited
  • Whyfield
  • Yorkshire Building Society Group
  • Zopa Limited

 

About Global Processing Services

Global Processing Services (GPS) is the issuer processor enabling many of today’s most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or pre-paid card transaction globally.

GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.

At the heart of its capability is GPS Apex, its single global issuer processing platform. Built entirely by its own payment experts, GPS Apex offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers.

It has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies, enabling its clients to innovate and deliver exciting new value propositions for end users around the world.

For more information: http://globalprocessing.net/

For media enquiries, please contact:

Nim Haas | Head of Marketing | nhaas@globalprocessing.net