OmniPay Wins Four Awards At Major US Payments Event
26-May-2012 | News-Press Release
OmniPay, the global payments processor, has won four awards at the 2012 Card Not Present (CNP) Expo in Orlando, Florida. These awards recognise outstanding success achieved by payment processors throughout the world. OmniPay won the four awards by virtue of its unique ability to provide a single global platform and service supporting the multi-currency processing requirements of many of the world's leading merchant acquiring banks, payment processors and eCommerce merchants.
The CNP Awards ceremony was attended by many of the world’s largest payments processors, merchants and acquiring banks. By winning these awards, OmniPay has further demonstrated its market leading position for global payments processing. OmniPay was the only company to win four awards, namely customer choice for best processor, customer choice for best chargeback management solution, first runner up for best CNP program outside the US and first runner up for best chargeback management solution.
This latest industry recognition for OmniPay at a global level follows its double win earlier this year at the European payments awards, MPE 2012.
OmniPay’s client base includes many of the world’s leading acquiring banks, payments processors and merchants, including HSBC Merchant Services, Equens and PayPal. OmniPay processed €55 billion worth of transactions for 5.4 million merchants in 73 countries and 158 currencies in 2011. OmniPay manages its global payments platform and portfolio of products from its head office in Dublin, with international sales offices in New York and Sydney.
OmniPay won the best processor awards for a number of reasons highlighted by the CNP judging panel. These include:
- Operating the largest single global end-to-end and fully integrated payments platform
- Best-in-class, pioneering multi-currency processing platform and service that is unmatched in the industry
- Optimal transaction interchange qualification and economies of scale ensure a low cost, high value payments processing service for each customer
- OmniPay employs the most knowledgeable and experienced global payments team, managing more than one billion transactions per year
OmniPay won the best chargeback program awards in recognition of the highly innovative system it has developed to enable banks to automate otherwise very manually intensive business processes. It allows 83% of all credit card disputes to be handled electronically, with only 17% requiring manual operator intervention. The savings and efficiencies gained by the global banking industry are substantial. In addition, it is the only global chargeback program sitting on a single platform, and providing reach across six continents.
Hubert O'Donoghue, CEO, OmniPay said: “Dispute handling is the single most expensive element in a card operation today. On average, less then 2% of the card payments transaction volume contributes to 12% of the operating budget. Omnipay has been able to reduce the time to process a dispute by two thirds since 2005 and automates 5 out of every 6 disputes to hit its platform, without involving any personal intervention by an operator. Such solutions help to substantially reduce cost and grow profitability in the card business.”
Speaking at the awards ceremony, John Power, Global Sales & Marketing Director, OmniPay, said, “To achieve this global recognition, following our recent success in Europe, is particularly invigorating for everybody at OmniPay and affirms our reputation as the world's leading global payments processor delivering competitive advantage to our customers."
OmniPay is a First Data company, one of the world's largest providers of merchant processing services.
OmniPay is the only truly global provider of card and electronic payment processing services to acquiring banks worldwide. The company provides a range of innovative and functionally rich transaction processing solutions to financial institutions worldwide. OmniPay was established in Ireland in 2000 to enable acquiring banks, and their merchant customers to accept payment transactions, both in the face-to-face and online environments. OmniPay is a First Data company, one of the world's largest providers of merchant processing services.
Today, OmniPay supports 28 acquiring banks and 5.4 million merchants in 73 countries and in 158 currencies. OmniPay’s head office is in Dublin, with other offices in Sydney and New York. As the market leader in multi-currency transactions, OmniPay brings very large economies of scale to clients like PayPal, HSBC Merchant Services and Equens, enabling them to minimise the costs associated with maintaining international card scheme compliance and domestic regulatory compliance. OmniPay's innovative technology is underpinned by a deeply experienced cohort of some 160 staff, collectively able to claim more than 2000 man-years experience in the merchant processing environment. http://www.omnipaygroup.com/
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