24 May BOIPA announces new partnership with Intelligent Payments
BOIPA announces new partnership with Intelligent Payments
- Partnership will see BOIPA move into online payments
- Irish e-commerce valued at €4.3b in 2015 and expected to be €5b in 2016
- IPG is one of the world’s leading providers of customised payments solutions for e-commerce
BOI Payment Acceptance (BOIPA) has announced a new partnership with global online payments company, Intelligent Payments (IPG). BOIPA, a technology alliance between Bank of Ireland and EVO Payments International, specialises in providing card payment facilities.
Founded in early 2015, the Dublin-based company is now looking to build on the recent success of its physical payment business and replicate this model online. The partnership will see BOIPA process online payments via IPG’s e-commerce gateway.
Cashless transactions in Ireland are currently valued at over €35 billion per year. Within this, the Irish e-commerce market was valued at €4.3 billion in 2015 and this is expected to rise to €5 billion in 2016. Mobile shopping alone accounted for €1.4 billion of this in 2015, and this is on course to eclipse €2.7 billion in 2016.
IPG specialises in providing tailored solutions for merchants with specific sector needs. This had been driven by its experience with complex gaming merchants where they have developed advanced fraud tools and superior mobile commerce solutions for high-volume merchants. IPG are also at the forefront of hospitality payments with unique booking engine products, enabling merchant PCI compliance and outsourcing of secure card data entry and transmission to hundreds of thousands of hotels throughout the world.
Speaking at the announcement, Brian Cleary, General Manager of BOIPA, said: “We are very excited to announce this new partnership with IPG. BOIPA only entered the payments market in early 2015, and in a very short space of time we have been hugely successful in delivering a superior card payment service and value proposition for businesses across Ireland.
“Retail, hospitality and other point-of-sales businesses, from large corporates to small SMEs, have all been quick to recognise the obvious benefits of card and contactless payments, including the ability to process more transactions, experience reduced banking costs and less exposure to theft and the misappropriation of cash for the business.
“Applying these same principles to growing our online market felt like a logical next step, and in partnering with IPG, we are doing so with a market-leading expert in this field.”
According to Conor Quirke, Group CEO of IPG: “E-commerce payments have advanced considerably and merchants have high expectations for fast, efficient and cost-effective payment solutions. I am delighted that the EVO Group has selected IPG as its e-commerce payments partner and to be launching in the Irish market with BOIPA. Our solution offers a compelling proposition for their merchants and we look forward to rolling out the service over the coming months.”