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March 3, 2017

TCV acquires card payments services firm Retail Merchant Services

TCV, a provider of capital to growth-stage private and public enterprises in the technology industry, has purchased British payments services company Retail Merchant Services (RMS).

By Verdict Staff

TCV, a provider of capital to growth-stage private and public enterprises in the technology industry, has purchased British payments services company Retail Merchant Services (RMS).

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RMS, which was established in 2007 to deliver affordable card payment solutions to small businesses, has grown into a trusted payment services provider by offering payments solutions to SMEs.

TCV noted that the takeover and associated investment will support RMS’ next phase of growth and continued innovation of payment services for its merchant customers.

Under the terms of the transaction, John Rosenberg, general partner at TCV, will join the company’s board of directors, together with Jim Aviles, former COO of Merchant e-Solutions. The investment in RMS comes from TCV’s $2.5bn growth fund.

RMS founder Paul Bentham said: “TCV has a stellar track record and brings a genuinely distinct approach of real partnership with CEOs and founders as they scale their business to reach market leadership.”

RMS managing director Gareth Poppleton said: “What especially attracted us to TCV is its tremendous expertise in the fintech sector and broader connections with technology leaders around the world.”

Financial terms of the transaction have not been disclosed.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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