Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
eWise is working with VocaLink to introduce in the United Kingdom an alternative payments network.
London, UK - eWise, a global provider of online payments and personal financial management solutions, today announced that John France has been appointed as Managing Director of the eWise European Payments Division, based in the UK.
John France was formerly Head of Processing Sales for Visa Europe where his exposure across the entire payments value chain enabled him to understand the various stakeholder models and value propositions associated with B2C and B2B payments. Prior to Visa, John held senior sales roles with ACI Worldwide and Nomad.
John France says "After over 20 years experience in the payments industry, I am excited to join the eWise team to deliver real online payments innovation in response to the inherent security, adoption and cost issues associated with more traditional online payment methods. eWise is establishing a new alternative online payments solution that will address the increasing demand by consumers for a simple and secure payment option as ecommerce volumes continue to grow."
eWise is partnering with VocaLink, the international payments specialists to introduce a new, safer and more secure online payments solution to the UK.
The eWise Online Banking ePayments (OBeP) network, unlike other alternative payment options, keeps financial institutions in the primary position of the payment chain, allowing them to protect and regain revenue being lost to alternative payment providers while leveraging existing online banking infrastructure. By utilising VocaLink's Immediate Payments platform in partnership with the eWise OBeP network, financial institutions will also benefit from a service that provides real-time consumer authentication, validation of sufficient funds and a guaranteed payment to the merchant.
"eWise is going through a significant growth phase and we are delighted to have a payments veteran such as John France on board to lead our expansion into the UK online payments market. eWise is transforming alternative payments with Online Banking ePayments networks that provide a win-win for consumers and the payments industry," explains eWise Founder & CEO, Alex Grinberg.
The appointment comes after a recent announcement that eWise has completed a
$12.1 million funding round to expand operations in its 4 key markets including the launch and support of an Online Banking ePayments (OBeP) network in the UK. This follows the commencement of the commercialisation rollout of the Secure Vault Payments network in the US, sponsored and governed by NACHA, the Electronic Payments Association.
eWise is a founding member of the International Council of Payment Network Operators (ICPNO), established in 2008 to develop common standards and rules for global interoperability between OBeP networks. Currently, there are over
15 successful OBeP networks operating around the world which, by working together through the ICPNO, could reach 400 million enabled users within 5 years.