SafeCharge, a

Nuvei Nuvei is a global payments technology company with headquarters in Montreal. Nuvei provides businesses with pay-in and payout options including card issuing, banking, risk and fraud management services, and enables them to accept more than 570 a ...

company, is a global payments technology company that provides omnichannel payment services,

fraud prevention In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compens ...

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, Canada and it has offices in Israel, UK, Netherlands, Hong Kong, Italy, Austria,

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

, Cyprus, Bulgaria,

Guernsey Guernsey (; Guernésiais: ''Guernési''; french: Guernesey) is an island in the English Channel off the coast of Normandy that is part of the Bailiwick of Guernsey, a British Crown Dependency. It is the second largest of the Channel Islands ...

, Mexico, Singapore and in the US. 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 __NOTOC__ Poli can refer to: Food * ''Puran Poli'', a poli made up of wheat flour and puran (sweet cooked gram paste) * A Marathi name for ''chapati'', a bread made up of wheat flour Organisations * FC Timişoara Romanian first league football cl ...

(Australia), PayPal (global), and Amex (global). 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

, 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. The company began trading on the London Stock Exchange in 2014. At that time, SafeCharge International had revenues of $43.18 million, and it raised $126 million from public offerings with its IPO pricing. That was the second largest IPO out of the main Israeli companies going public in 2014. In 2017, SafeCharge International expanded to the Asian markets via a partnership with

2C2P Alipay () is a third-party mobile and online payment platform, established in Hangzhou, China in February 2004 by Alibaba Group and its founder Jack Ma. In 2015, Alipay moved its headquarters to Pudong, Shanghai, although its parent company An ...

, and working with WeChat Pay in London’s Camden market. In 2018 The company was authorized as a payment institution by the UK

Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulation, financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The ...

. In 2019, Nuvei Corporation announced its acquisition of SafeCharge, and agreed to pay US$889 million in cash for it. The deal saw Nuvei pay $5.55 for each SafeCharge share, representing a 25% premium to the London-listed company's stock. 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. In February 2020, Credit card company Max signed a deal with SafeCharge to acquire control of CreditGuard.

References

{{reflist Financial technology companies 2014 initial public offerings Payment service providers