Sage Pay

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Sage Pay Limited
Sage Pay
Formerly
  • Protx
  • Sage Pay
  • Opayo
Company type Subsidiary
IndustryPayments processing
Founded2001;24 years ago (2001)
Defunct2020 (2020)
FateAcquired by Elavon and folded into their business
Headquarters
London, United Kingdom [1]
Newcastle upon Tyne, United Kingdom (registered office) [2]
Area served
UK, Ireland
Revenue£41 million [3]  (2018)
£15 million [3]  (2018)
Number of employees
300 [4]
Parent Elavon
Website www.sagepay.co.uk

Sage Pay was a payments processing service owned by The Sage Group plc between 2006 and 2020. It operated in the UK, Ireland, Germany, Spain, South Africa and the United States. The company provided online payments processing as well as products for face-to-face and telephone payments.

Contents

The UK and Ireland business was acquired by U.S. Bancorp's UK arm of Elavon in 2020 and was initially rebranded as Opayo, before taking on the group's Elavon branding.

History

UK and Ireland

The Opayo business was founded in 2001 as Protx, a business that processes online payments for small and medium sized businesses. [5] Sage Group purchased Protx for £20 million in 2006. [5] Protx had 10,000 customers in 2006. [5] Protx was rebranded as Sage Pay in April 2009. Sage Pay entered the Irish market and opened a customer service centre in Newcastle upon Tyne during the same year. [4]

As of 2019 Sage Pay had 300 employees and serves 50,000 customers. [4]

In February 2012 Sage Pay entered the card machine payment market when they acquired Integral Computers Ltd for €20 million. [6] Integral Computers was founded in 1989 and its point of sale technology was used in 25,000 locations in 2012 across the UK and Ireland. [6]

In 2019 Sage Pay and Worldpay, Inc. announced they were to partner to provide additional services in the UK and Ireland. [7]

In November 2019 Elavon announced the acquisition of the UK and Irish Sage Pay business for £232 million. [8] [3] The Sage Salary and Supplier Payments portion of Sage Payments was not included in the deal with Elavon. The sale was completed on 11 March 2020 and the business was rebranded as Opayo in July of the same year. By 2024 the Opayo brand had fallen out of use with the business simply operating under the wider group's Elavon brand name.

Germany and Spain

Sage Pay launched in Germany in October 2012 [9] and in Spain in September 2013. [10] Sage Pay is no longer listed on the German and Spanish Sage websites.

South Africa

In May 2010, Sage South Africa announced the acquisition of Netcash (Pty) Ltd, [11] a company that provides transaction processing services in three primary areas: electric funds transfer payments, debit order collections and credit card transaction processing.

Netcash had been established in 2002. [12] In 2013 Sage Netcash was rebranded as Sage Pay. [13] Sage sold the South African payments business in July 2019 for £5 million. [14] The South African business reverted to its Netcash name in December 2019. [15] and launched Netcash Shop in 2021 as an online platform solution. [16]

United States

Sage previously operated a payments processing service in the United States called Sage Payment Solutions. Sage Group divested the US Sage Payments Solutions business to GTCR in 2017 for $260 million. [17] Sage Payments Solutions was later rebranded as Paya. [18]

See also

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References

  1. ↑ "Company Overview of Sage Pay Europe Limited". Bloomberg . Retrieved 6 May 2019.
  2. ↑ "SAGE PAY EUROPE LIMITED". Companies House. Retrieved 18 November 2019.
  3. 1 2 3 "Disposal of Sage Pay". Sage Group plc. 18 November 2019. Retrieved 18 November 2019.
  4. 1 2 3 "About us". Sage Pay Europe Limited. Retrieved 6 May 2019.
  5. 1 2 3 Leyden, John (13 November 2006). "Sage pays £20m for payment processing firm Protx". The Register . Retrieved 6 May 2019.
  6. 1 2 "Sage Pay buys Integral Computers". Finextra. 7 February 2012. Retrieved 6 May 2019.
  7. ↑ "Worldpay and Sage partner to provide fast and efficient Payments to businesses across the UK and Ireland". Worldpay. February 2019. Retrieved 6 May 2019.
  8. ↑ "Elavon acquires Sage Pay, expanding its presence and services for customers in the UK, Ireland". Elavon. November 2019. Retrieved 18 November 2019.
  9. ↑ "2012 results" (PDF). Sage Group. Retrieved 6 May 2019.
  10. ↑ "¡Viva España! Sage Pay launches in Spain". Sage Pay Europe. 30 September 2013. Retrieved 6 May 2019.
  11. ↑ "The Sage Group PLC – Softline acquires a leading Transaction Services Provider, Netcash". Archived from the original on 26 September 2011. Retrieved 3 October 2011.
  12. ↑ "Softline - Sage - Netcash - Payment Provider". SagePay South Africa. 1 November 2012. Retrieved 20 November 2019.
  13. ↑ "Sage Netcash rebrands to Sage Pay". Sage Pay (Pty) Ltd. 2013. Retrieved 6 May 2019.
  14. ↑ "Full Year 2019 Results press release" (PDF). Sage Group plc. Retrieved 20 November 2019.
  15. ↑ "Netcash brand reveal". Netcash. 1 December 2019. Retrieved 8 December 2019.
  16. ↑ "Free eCommerce shop platform". Netcash Shop. Retrieved 16 May 2024.
  17. ↑ "GTCR Announces Acquisition of Sage Payment Solutions". GTCR. 2 June 2017. Retrieved 6 May 2019.
  18. ↑ "Sage Payment Solutions Announces Company Rebrand to Paya". Paya. 30 January 2018. Retrieved 6 May 2019.


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