View source for E-Clear

{{outdated|date=January 2020}}
{{short description|British payment processing company}}
{{Infobox company
| name = E-Clear
| type = Private Limited Company
| industry = Finance, digital payment
| founded = 2002
| defunct = 2010
| hq_location_city = [[Mayfair]], [[City of Westminster]], United Kingdom
| services = [[Payment processing]]
}}
'''E-Clear''' was a British [[payment processor]] that provided [[merchant account]]s for companies, allowing them to accept [[credit card]]s. E-Clear specialised in the travel industry in the United Kingdom.<ref>{{cite news | url=https://www.phocuswire.com/FlyGlobespan-attention-turns-to-travel-technology-partner-EClear | title=FlyGlobespan – attention turns to travel technology partner EClear |  first=Kevin | last=May | work=Phocuswire | date=December 17, 2009}}</ref>
Members of the company's board included [[Elias Elia (businessman)|Elias Elia]], [[Derek Tullett]] and Sir [[Edward du Cann]].<ref>{{cite news| url=https://www.thetimes.co.uk/article/city-bigwigs-derek-tullett-and-sir-edward-du-cann-dragged-into-flyglobespan-row-q8wmtl62gd2 | work=[[The Times]] | title=City bigwigs Derek Tullett and Sir Edward du Cann dragged into Flyglobespan row | date=December 27, 2009 | first1=Dominic | last1=O'Connell | first2=Jane | last2=Bradley | first3=Kasmira | last3=Jefford}}</ref>
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 (businessman)|Elias Elia]] is a [[Greek Cypriot]].<ref>{{cite news | url=https://www.theguardian.com/business/2009/dec/13/globespan-faces-funding-crunch | title=Globespan faces funding crunch | work=[[The Guardian]] | date=December 13, 2009}}</ref>
==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.<ref>{{cite news | url=https://www.mayerbrown.com/en/news/2010/10/mayer-brown-advises-on-acquisition-of-nordfinanz-b | title=Mayer Brown advises on acquisition of NordFinanz Bank | work=[[Mayer Brown]] | date=October 19, 2010}}</ref>
In January 2010, the company was put into [[Administration (law)|administration]].<ref>{{cite news | url=https://www.theguardian.com/business/2010/jan/19/e-clear-globespan-administration | title=E-Clear, credit card processor involved in the Globespan collapse, goes under | first1=Elena | last1=Moya | first2=Simon | last2=Bowers | work=[[The Guardian]] | date=January 19, 2010}}</ref><ref>{{Cite news | url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7028760/E-Clear-placed-in-administration.html | title=E-Clear placed in administration | work=[[The Daily Telegraph]] | date=January 19, 2010}}</ref>
==References==
{{Reflist}}
[[Category:Companies based in the City of Westminster]]
[[Category:Financial services companies of the United Kingdom]]
[[Category:Defunct companies of the United Kingdom]]
[[Category:Financial services companies established in 2002]]
[[Category:Financial services companies disestablished in 2010]]
[[Category:British companies established in 2002]]
[[Category:British companies disestablished in 2010]]
[[Category:2002 establishments in the United Kingdom]]
[[Category:2010 disestablishments in the United Kingdom]]
[[Category:Privately held companies of the United Kingdom]]
[[Category:Payment service providers]]