Monext, a leading European actor of electronic payments, processes over 2 million payment cards on behalf of a variety of high-profile French and international banks, e-commerce organisations and retailers. Its secure online payment solution, Payline, was one of the first of its kind on the market. Mr. Jeremy Altman, Investment Manager of Monext: “We are a major player in the French electronic payment market and aim to become a leading European player in this fast growing market.” Monext was officially established in November 2008, but the company has a longer history. It used to be a part of the French subsidiary of financial services group Experian, which was split up into three different companies: Experian, Extelia and Monext. Monext is backed by the Advent International private equity firm and currently employs around 400 people. The company manages over 2 million bank cards, 3 million transport cards and 5 million private-label cards, issued by petrol stations and retailers for example. Mr. Altman, who has been active for the company for over two years, states: “We handle more than 550 million transactions per year, deliver 150 millions authorisations and answer 5 millions calls.” The company’s goal is to facilitate secure, reliable and immediate electronic payment transactions, with or without a card, at the point of sale, online or via mobile phones. Monext has many competitive advantages, according to Mr. Altman. “Our size gives us the flexibility you need to specialise in value added services. We have longstanding relations with our customers and have been a reliable partner to them for years. They know how responsive we are to the market. Our clients tell us what they need, we develop what they want. We are experts in card payments and are able to develop tailor-made solutions.” One of the projects the company is currently working on, together with Datacard Group is the instant issuing of a credit card at the point of sale. “An EMV payment card can now be delivered securely in as little as one minute,” says Mr. Altman. The company is also developing card personalisation, where clients can chose the visual on their card, the pin code and add, activate or disable, such as payment abroad or through the internet. Monext has a network of partners. Recently the company has entrusted Verizon Business Security Solutions to make sure the confidential data of the company’s online bank-payment processing system is protected in the most secure way. The company has set ambitious goals for the next three years. “We want to triple our revenues, and go from 400 to 1000 employees. In addition we aim to expand in a new country every year. top - home