E-Clear was a British payment processor that provided merchant accounts for companies, allowing them to accept credit cards. E-Clear specialized 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
- Kevin May. FlyGlobespan – attention turns to travel technology partner EClear Phocuswire, December 17, 2009^
- Dominic O'Connell, Jane Bradley, Kasmira Jefford. City bigwigs Derek Tullett and Sir Edward du Cann dragged into Flyglobespan row The Times, December 27, 2009^
- Globespan faces funding crunch The Guardian, December 13, 2009^
- Mayer Brown advises on acquisition of NordFinanz Bank Mayer Brown, October 19, 2010^
- Elena Moya, Simon Bowers. E-Clear, credit card processor involved in the Globespan collapse, goes under The Guardian, January 19, 2010^
- E-Clear placed in administration The Daily Telegraph, January 19, 2010^