eCOMM Merchant Solutions
Institutions > Best Accelerator
Picture the scene – it’s 2014, Noel & Valerie Moran having launched a successful Prepaid Card business 7 years previously are now looking for new ideas. They establish eCOMM Merchant Solutions in Noel’s hometown of Navan, Ireland. The company has a completely self-built and scalable technical platform, combining gateway, acquiring, processing and provision of terminals all under one roof.
In 2019, Noel and his wife Valerie addressed an Industry issue - when a merchant receives a payment via a Point of Sale terminal, he or she to wait at least 24 hours before those funds ‘settle’ into their account. In fact, a common problem within the industry is that many merchants must wait 2 or 3 days for settlement, or more if the transaction was made over a weekend.
As an entrepreneur who started his business from scratch, Noel knows that for small merchants, this delay presents a serious concern. Some need to approach finance companies for day-to-day finance.
Noel and Valerie’s answer is Instant Payments for merchants – a first for Ireland. This product provides merchants with immediate access to their funds, as well as a 0.5% rebate on what is spent. Once a merchant receives payment from a customer via the terminal, the funds are transferred instantly into their eCOMM Business Current Account and will be available for the merchant to spend, instantly, via their eCOMM Mastercard:
The company is enjoying rapid growth - the workforce has grown from 2 to 50, with operations in Ireland, the UK, Malta, Greece and Cyprus – and is licensed to operate in 35 countries. In addition, Valerie, a native of Zimbabwe, who is also keen to give back to society, has become a regular speaker on TV and radio on the topic of inclusion for black women in the Industry.