The Cardsave Group, the largest provider of
credit and debit processing facilities to independent UK retailers,
has unveiled plans to increase its transaction levels by over £1
billion a year within three years.
Cardsave’s recent acquisition of the UK
terminal hire business of global communications company Transaction
Network Services (TNS) marks the start of an aggressive growth
strategy by the Grimsby-based firm.
Clive Kahn, Chief Executive of the Cardsave
Group said: “We have spent the past three years developing an
organic growth strategy which has seen us double the number of
merchants we recruit each year. Business has been growing and
transactions are up almost 20 percent over last year”
Kahn also announced that the company was keen
to use Cardsave as a platform for making further acquisitions in
the payments sector.
“The demise of cheques and the move from cash
to cards, enhanced by the increasing use of e-commerce, means the
market is healthy and, thanks to continued growth over the past
three years, we are well placed to take advantage of the
opportunities that arise,” he said.
Cardsave currently provides credit card
processing services to 36,000 customers, taking more than £2.7bn in
card payments a year.