PayPal – (Dublin & Dundalk) a global leader in online payments processing, PayPal Ireland houses the company’s European Customer Support, risk & fraud prevention, merchant services and process excellence teams in Ireland. Recently announced expansion of 1,000 additional jobs in Dundalk (total employment will be 2,400). Ireland home to the company’s Global Centre of Excellence for Customer Service. Young, multilingual workforce representing 40 nationalities, speaking 45 different languages.MasterCard – will employ c.200 people, the Dublin operation is MasterCard’s Global Innovation Centre (part of MasterCard Worldwide’s R&D Hubs). Acquired Irish payments company Orbiscom when establishing presence in Ireland. The centre focuses on technology development for mobile & peer-to-peer payments, as well as development of innovative solutions in e-Commerce.First Data – leading global provider of payment processing solutions, and merchant services (acquiring). Established partnership with AIB to establish AIB Merchant Services. Also hold stake in numerous Irish operations, including OmniPay and Fexco.Chase Paymentech– Dublin is home to group’s EMEA HQ, employing 30-40 people. Activities undertaken include R&D (newpayment methods for EMEA clients),Sales & marketing,Account Management, and Operational support. Key to CP’s establishment in Ireland is its strategic location, bridging the time gap between East & West and allowing 24hour payments service globally.Sage Pay – Sage are a leading software development and BPO company headquartered in the UK. The company established a new payments business (branded SagePay) through the acquisition of Irish company Integral. Now provide transaction processing & switching services for SME’s using electronic POS devices. Employ approx 40 peopleWestern Union – employ c.70 people in Dublin, which serves as a Management Centre for Tax & Internal Audit, financial shared services, general ledger, accounts payable and payroll.Vesta Payments – the Portland, Oregon based company providing e-commerce, remittances, and mobile payments solutions (card not present services). Vesta is HQ’d in Dundalk, Co. Louth, employing c.75 people in their European shared services operation, providing European finance & accounting support, call centre & customer support, and currently building a software development team which will develop new products in Ireland, and localise new products coming from HQ in Portland. ACI Payments – ACI Worldwide are a leading global provider of software solutions. The company’s payments arm established a Shared Services facility in Limerick, employing c.50 people in European Sales & Marketing and back office support.FEXCO – a leading Irish multinational payments company providing a range of financial services, payments solutions and ancillary services to payments. Fexco are headquartered in Killorglin, Co. Kerry, providing Dynamic Currency Conversion (DCC), multi currency pricing, credit card processing, global treasury solutions, gift & pre-paid spending solutions, and Bureau de Change. Fexco employ approx 800 people in Co Kerry.Monex – headquartered in Killarney, Co. Kerry, Monex provide multicurrency pricing, DCC, and cross-border acquiring solutions. Monex employ approx 135 peopleRealex – Services include online payments, fraud & currency management, call centre solutions – employ 110 people in DublinCard Commerce – Payment solution provider including credit & debit card processing, currency conversionDaon - is a leading provider of identity assurance and identification and verification software and services worldwideOmnipay – Provide merchant services which enable banks and their merchant customers to accept payment transactions– they employ approx 60 people in DublinPayzone – one of Europe’s largest branded payments services companies. Payzone operates a network of 66,000 retailer POS, and provides solutions for online and mobile payments. Services include mobile top-up, tolling payments, electronic gift and transport ticketing, bill payment and pre-payment meter services. (employ approx between 50-100)Pay by mobile – is a prepaid online mobile payments company (employ under 50)
Ireland - The location of choice for International Payments firms
IrelandThe location of choice forInternational Payments firms September 2012 a
Why Ireland?1) Why Ireland?2) Strong portfolio of International Financial Services firms3) Ireland – a global cluster for Software & ICT4) Convergence & Emergence of Financial Technology5) Multinational & Indigenous business environment6) Financial Regulatory Environment7) Irish Research Institutions in Payments Technology8) IDA & Government support for companies
Software & ICT Industry in Ireland 800+ software €25 billion firms revenue 24,000+ 10% of employees Ireland’s GDP #2 largest 8 of the top 10 exporter of ICT companies software in in the world the world Operations in Ireland• Sales & Tech Support • Product Localisation• R&D / Software Eng • Datacentre & Cloud• EMEA Inside Sales services• EMEA HQ • Semiconductor manuf.
Recent Irish & MultinationalPartnerships in Payments • MasterCard acquired Orbiscom in April 2009 • February 2011 – European operations and customer service HQ announced • Ireland hosts MasterCard’s “Global Innovation Centre” • Integral provides transaction processing & switching services to SME’s using electronic POS devices. • Processed 87m transactions in 2011 (€5 billion) • April 2012 – Integral acquired by Sage and rebranded “Sage Pay” • AIB Merchant Services is a joint-venture with First Data • In March 2012, won 2 awards at European Merchant Payment & Ecosystem Conference (awards for Innovation & Information) • No.1 Currency is a leading UK corporate payments & Bureau de Change business based in Edinburgh • Fexco announced acquisition in February 2012 • Fexco is a global leader in Dynamic Currency Conversion (DCC), corporate payments, global treasury solutions
Financial Regulation in Ireland... ...serving the payments market of Europe Regulatory Authorisation of your entity can be achieved in Ireland (10 Payments entities currently regulated)EU DirectivesIreland is signatory to the primary EuropeanCommission Payments Directives:• Payment Services Directive (PSD)• E-Money DirectiveEU InitiativesIreland is a member of theSingle Euro Payment Area (SEPA)• Driving the conformity of payments across theEurozone• Comprised of key agencies from each Eurozonecountry
Regulatory Authorisation Process Registration Process is “practical,collaborative, and business friendly” Welcome & initial “meet & greet”. Initial Meeting Discussion on business plan & regulation process Set out Initial Proposal - Legal Preliminary entity, management & auditing Submission structure, transaction flow & processes etc. Collaborative discussion on Preliminary submission to define a „road-map‟ Meeting for application Final Submission incorporating Application new structures / changes as Proposal discussed at preliminary meeting Central Bank processes application Review & in detail and works with company Authorisation to grant authorisation
Irish Research Institutions in Payments Technology ResearchResearch Focus Research Strands Centres Illegal distribution of software, abuses of multiplayer online gaming, Centre for Cybercrime mobile forensicsCybercrime & InvestigationFraud Analysis Research in coding theory and cryptography, discrete mathematics, algebra and number theory Computer Distributed access control, autonomic security trust, security analysis & Science security risk management Centre IT Security & Fundamental & applied research in IT security for data communication Data-Comm Cryptography networks, authentication & access control schemes, formal verification of Security security protocols using steganography & information hiding Laboratory Computer Identity based encryption & signature schemes, cryptanalysis & biometric Security & cryptography, smart card security Cryptography Network GroupAnalysis & Data Analysis & visualisation of graphs and social / biological networks. Matrix Clique Research Analytics analysis techniques, information flow monitoring, discovering network Cluster structure Dependable Development of more reliable & secure software, encompassing software Systems code refinement, verification and automatic program construction Software & Group Technology Research into all aspects of distributed computing extending from Dependable Optimisation theoretical foundations to system engineering issues. Expertise in the areas Systems of ubiquitous computing, mobile computing and software engineering. Group
How IDA Ireland can help…1) R&D Grant Aid (c.10 - 20%) 1) Property & Office Solutions2) R&D Tax Credit (25%) 2) Introductions to Universities & Research3) Assistance with VISA’s / Centres Work Permits 3) Introduction to peers4) Employment Grant Aid 4) Continuous "After Care” support
International & Irish PaymentsCompany Profiles in Ireland • MasterCard • PayPal • Elavon • Chase Paymentech • Irish company profiles
in Ireland Global Centre of Excellence for Customer Experience, Dublin • Focuses on developing product, process, First Global established people and technology solutions to – Centre of c.2,4002003 in Ireland 2009 Excellence Today employed • Improve customer experience set up • Drive increased revenues for PayPal worldwide • As a result of success of this Centre to date, a number of global roles are now located inPayPal European Operational Ireland including –Headquarters, Blanchardstown, Dublin • Global Head of Customer Support• PayPal’s first entity outside of The US • Global Head of Process Excellence • Global Head of Training• Hosts PayPal’s European customer service, risk & fraud prevention, merchant services and • In 2009, PayPal expanded into a new, larger process excellence team. facility in Dublin• Over 2,400 native European speakers employed• Young and educated workforce – average age Ireland Benefits PayPal: of 27 years • Quick access to operational & multilingual professionals• Over 40 different nationalities represented • Convenient access to The EU & The US • Cost-effective labour
in Ireland Java Centre of Excellence 1998 2009 Today • MasterCard Labs chose Ireland to house the group’s only Java Centre of Excellence, Orbiscom After designing MasterCard Labs expanding on its existing capability which founded, providing “MasterCard establish Global developed “MasterCard InControl” mainly Card-Not- InContol” as a joint Innovation Centre Present solutions. venture in in Dublin, growing Employed 36 2007, MasterCard to 200 people • Highly skilled employees, including: acquires Orbiscom 1) Java.net developers 2) Mobile App developers 3) QA Engineers 4) Implementation engineersMasterCard Global Innovation Centre,Sandyford, Dublin • Responsible for design & upgrade of Apps and solutions for existing payments• Comprises 2 technology development units: platforms, as well as Risk & Fraud 1) MasterCard Labs (the company’s R&D functions arm) 2) Java Centre of Excellence Why Ireland benefits MasterCard• The Global Innovation Centre will employ 200 highly skilled software & technology • Access to highly skilled, cost-effective software developers developers by 2014 • Convenient access to MasterCard HQ in New York • Access to and understanding of European payments market, essential• 1 of only 3 MasterCard Labs globally for deployment of payment solutions & Apps in Europe • Building on existing partnership with indigenous company in the• MasterCard’s only Java Centre of Excellence payments space
in Ireland 400 staff in Ireland – 2000 2004 Today Supporting European-wide operations, using multi-US Bancorp enters joint US Bancorp buys Elavon employsventure with Bank of out EuroConex, and 350 people in currency, multi-lingualIreland to create rebrands as Elavon. Ireland, through a platformEuroconex. Operations Retains Dublin & variety of businessin Dublin & Arklow Arklow facilities lines Elavon is a wholly-owned subsidiary, providing payments processing services to financial institutions & merchants Elavon Financial Services Elavon Merchant Services “With Elavon’s business constantly Loughlinstown, Dublin Arklow, Co. Wicklow evolving in this competitive market, • EMEA HQ for US Bancorp • Customer support now is the time to invest in our • Provides the banking • Telesales skilled professionals who provide function / partnership for • Fraud Analysis & Chargeback critical infrastructure support for our Elavon in Europe • Payment Processing European operations from our • Regulated credit institution • Product development by the Central Bank of Ireland • Accounts (Merchant Arklow location,” Simon Haslam, Reimbursement) President of International Markets • Data Centre operations
in Ireland Chase Paymentech 1997 2004 Today processes the merchant Management centre side of cheque and Began serving the Consolidated for European credit, debit, and pre- European market European operations, and operations, creating a regulated through paid card payments European HQ in Europe by the Central Dublin Bank of Ireland Activities: • Sales & marketing • Account Management“We do not consider the launch of this • R&D (new paymentnew European headquarters in Dublin methods for EMEAas the start of operations here, but as c. 30 staff clients)a major milestone in our global • Operational supportstrategy to expand internationally andsupport the growth of our US basedmerchant customers in Europe…Dublin will also be a platform for Dublin is thedeveloping into Eastern Europe and Ireland’s strategic location enables Chase Paymentech Group’sthe Asian Pacific markets.“ ShaneFitzpatrick, MD to support 24 hour markets EMEA HQ between East and West.
Indigenous Payments Sector in Ireland• Competitive cluster: Competitive cluster of 25 indigenous companies in the payments sector exporting c. €225m in 2010 and employing c.1,600 people.• Irish clients winning key accounts with: Hertz (Monex), HBOS (Omnipay), BMW Sauber (TaxBack), Tommy Hilfiger (Fintrax), bmibaby (Continuum Commerce), Eastern Airways (Realex)• Strength of capability within Ireland: Ireland has strong capability in particular in Dynamic Currency Conversion (DCC), PCI compliance, prepaid cards, payment processing platforms• Strong Ecosystem of overseas owned companies based in Ireland: Paypal, Chase Paymentech, Mastercard, Elavon Financial Services, ACI Payment Systems, Vesta Payment Solutions active in Ireland