E-Clear
TypePrivate Limited Company
IndustryFinance, digital payment
Founded2002
Defunct2010
Headquarters
Mayfair, City of Westminster, United Kingdom
ServicesPayment processing

E-Clear was a British payment processor that provided merchant accounts for companies, allowing them to accept credit cards. E-Clear specialised in the travel industry in the United Kingdom.[1]

Members of the company's board included Elias Elia, Derek Tullett and Sir Edward du Cann.[2]

Formed in 2002 and based in Mayfair, City of Westminster, the company was based in Britain, but owned by a parent company registered in Cyprus, and its chief executive Elias Elia is a Greek Cypriot.[3]

History

The company was formed in 2002.

In 2007, Deutsche Bank announced the end of its agreement for card processing with E-Clear. As a result, E-Clear began buying shares in NordFinanz, a small loss-making bank in Bremen. By 2009, E-Clear owned 97% of the shares in the bank. In 2010, it sold the stake.[4]

In January 2010, the company was put into administration.[5][6]

References

  1. ↑ May, Kevin (December 17, 2009). "FlyGlobespan – attention turns to travel technology partner EClear". Phocuswire.
  2. ↑ O'Connell, Dominic; Bradley, Jane; Jefford, Kasmira (December 27, 2009). "City bigwigs Derek Tullett and Sir Edward du Cann dragged into Flyglobespan row". The Times.
  3. ↑ "Globespan faces funding crunch". The Guardian. December 13, 2009.
  4. ↑ "Mayer Brown advises on acquisition of NordFinanz Bank". Mayer Brown. October 19, 2010.
  5. ↑ Moya, Elena; Bowers, Simon (January 19, 2010). "E-Clear, credit card processor involved in the Globespan collapse, goes under". The Guardian.
  6. ↑ "E-Clear placed in administration". The Daily Telegraph. January 19, 2010.
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