ireland - the location of choice for international payments firms
DESCRIPTION
TRANSCRIPT
Ireland The location of choice for International Payments firms
September 2012a
Why Ireland?
1) Why Ireland?
2) Strong portfolio of International Financial Services firms
3) Ireland – a global cluster for Software & ICT
4) Convergence & Emergence of Financial Technology
5) Multinational & Indigenous business environment
6) Financial Regulatory Environment
7) Irish Research Institutions in Payments Technology
8) IDA & Government support for companies
Software & ICTIndustry in Ireland
800+ software firms
24,000+ employees
€25 billion revenue
10% of Ireland’s GDP
#2 largest exporter of software in the world
8 of the top 10 ICT
companies in the world
Operations in Ireland
• Sales & Tech Support• R&D / Software Eng• EMEA Inside Sales• EMEA HQ
• Product Localisation• Datacentre & Cloud services• Semiconductor
manuf.
Financial TechnologyConvergence & Emergence
Online/Mobile Banking
Risk Modelling, Management &
Compliance
Security & Transparency
Data & Predictive Analysis / Business
Intelligence
Automation
E-Payments
Financial Services Cluster
Software / ICT Cluster
High-Growth Payments Sector in IrelandMNC’s & Indigenous
Indigenous30 companies
c.1,600 employed(€225m in exports)
Multinationals12 companies
c.3,700 employed
Recent Irish & MultinationalPartnerships in Payments
• AIB Merchant Services is a joint-venture with First Data
• In March 2012, won 2 awards at European Merchant Payment & Ecosystem Conference (awards for Innovation & Information)
• Integral provides transaction processing & switching
services to SME’s using electronic POS devices. • Processed 87m transactions in 2011 (€5 billion)• April 2012 – Integral acquired by Sage and
rebranded “Sage Pay”
• No.1 Currency is a leading UK corporate payments & Bureau de Change business based in Edinburgh• Fexco announced acquisition in February 2012• Fexco is a global leader in Dynamic Currency Conversion (DCC), corporate payments, global treasury solutions
• MasterCard acquired Orbiscom in April 2009• February 2011 – European operations and customer
service HQ announced• Ireland hosts MasterCard’s “Global Innovation
Centre”
Financial Regulation in Ireland......serving the payments market of Europe
Regulatory Authorisation of your entity can be achieved in Ireland
(10 Payments entities currently regulated)
EU DirectivesIreland is signatory to the primary European Commission Payments Directives:
• Payment Services Directive (PSD)• E-Money Directive
EU InitiativesIreland is a member of the Single Euro Payment Area (SEPA)• Driving the conformity of payments across the Eurozone • Comprised of key agencies from each Eurozone country
Regulatory Authorisation Process
Registration Process is “practical, collaborative, and business friendly”
Preliminary Submission
Preliminary Meeting
Application Proposal
Set out Initial Proposal - Legal entity, management & auditing structure, transaction flow & processes etc.
Collaborative discussion on submission to define a ‘road-map’ for application
Final Submission incorporating new structures / changes as discussed at preliminary meeting
Review & Authorisation
Initial MeetingWelcome & initial “meet & greet”.Discussion on business plan & regulation process
Central Bank processes application in detail and works with company to grant authorisation
Distributed access control, autonomic security trust, security analysis & security risk management
Research into all aspects of distributed computing extending from theoretical foundations to system engineering issues. Expertise in the areas of ubiquitous computing, mobile computing and software engineering.
IT Security & Cryptography
Software & Technology
Optimisation
Network Analysis & Data
Analytics
Cybercrime & Fraud Analysis
Illegal distribution of software, abuses of multiplayer online gaming, mobile forensics
Irish Research Institutions in Payments Technology
Research Focus Research StrandsResearch Centres
Research in coding theory and cryptography, discrete mathematics, algebra and number theory
Analysis & visualisation of graphs and social / biological networks. Matrix analysis techniques, information flow monitoring, discovering network structure
Development of more reliable & secure software, encompassing software code refinement, verification and automatic program construction
Centre for Cybercrime Investigation
Clique ResearchCluster
Computer Science Centre
Dependable Systems Group
Identity based encryption & signature schemes, cryptanalysis & biometric cryptography, smart card security
Computer Security & Cryptography Group
Fundamental & applied research in IT security for data communication networks, authentication & access control schemes, formal verification of security protocols using steganography & information hiding
Data-Comm SecurityLaboratory
Dependable Systems Group
How IDA Ireland can help…
1) R&D Grant Aid (c.10 - 20%)
2) R&D Tax Credit (25%)
3) Assistance with VISA’s / Work Permits
4) Employment Grant Aid
1) Property & Office Solutions
2) Introductions to Universities & Research Centres
3) Introduction to peers
4) Continuous "After Care” support
International & Irish PaymentsCompany Profiles in Ireland
• MasterCard
• PayPal
• Elavon
• Chase Paymentech
• Irish company profiles
in Ireland
Global Centre of Excellence for Customer Experience, Dublin• Focuses on developing product, process,
people and technology solutions to – • Improve customer experience• Drive increased revenues for PayPal
worldwide
• As a result of success of this Centre to date, a number of global roles are now located in Ireland including –
• Global Head of Customer Support• Global Head of Process Excellence• Global Head of Training
• In 2009, PayPal expanded into a new, larger facility in Dublin
First established in Ireland2003 Global Centre of
Excellence set up2009 c.2,400 employed Today
PayPal European Operational Headquarters, Blanchardstown, Dublin• PayPal’s first entity outside of The US
• Hosts PayPal’s European customer service, risk & fraud prevention, merchant services and process excellence team.
• Over 2,400 native European speakers employed
• Young and educated workforce – average age of 27 years
• Over 40 different nationalities represented
Ireland Benefits PayPal:• Quick access to operational & multilingual
professionals• Convenient access to The EU & The US• Cost-effective labour
in Ireland
MasterCard Global Innovation Centre, Sandyford, Dublin
• Comprises 2 technology development units: 1) MasterCard Labs (the company’s R&D arm)
2) Java Centre of Excellence
• The Global Innovation Centre will employ 200 highly skilled software & technology developers by 2014
• 1 of only 3 MasterCard Labs globally
• MasterCard’s only Java Centre of Excellence
Java Centre of Excellence
• MasterCard Labs chose Ireland to house the group’s only Java Centre of Excellence, expanding on its existing capability which developed “MasterCard InControl”
• Highly skilled employees, including: 1) Java.net developers2) Mobile App developers3) QA Engineers4) Implementation engineers
• Responsible for design & upgrade of Apps and solutions for existing payments platforms, as well as Risk & Fraud functions
Why Ireland benefits MasterCard
• Access to highly skilled, cost-effective software developers• Convenient access to MasterCard HQ in New York• Access to and understanding of European payments market, essential
for deployment of payment solutions & Apps in Europe• Building on existing partnership with indigenous company in the
payments space
1998 2009 Today
Orbiscom founded, providing mainly Card-Not-Present solutions. Employed 36
After designing “MasterCard InContol” as a joint venture in 2007, MasterCard acquires Orbiscom
MasterCard Labs establish Global Innovation Centre in Dublin, growing to 200 people
in Ireland
“With Elavon’s business constantly evolving in this competitive market, now is the time to invest in our skilled professionals who provide critical infrastructure support for our European operations from our Arklow location,” Simon Haslam, President of International Markets
Elavon Merchant ServicesArklow, Co. Wicklow
• Customer support• Telesales• Fraud Analysis & Chargeback• Payment Processing• Product development• Accounts (Merchant
Reimbursement)• Data Centre operations
400 staff in Ireland – Supporting European-wide
operations, using multi-currency, multi-lingual
platform
Elavon Financial ServicesLoughlinstown, Dublin
• EMEA HQ for US Bancorp• Provides the banking
function / partnership for Elavon in Europe
• Regulated credit institution by the Central Bank of Ireland
2000 2004 Today
US Bancorp enters joint venture with Bank of Ireland to create Euroconex. Operations in Dublin & Arklow
US Bancorp buys out EuroConex, and rebrands as Elavon. Retains Dublin & Arklow facilities
Elavon employs 350 people in Ireland, through a variety of business lines
Elavon is a wholly-owned subsidiary, providing payments processing services to financial institutions & merchants
in Ireland
c. 30 staff
“We do not consider the launch of this new European headquarters in Dublin as the start of operations here, but as a major milestone in our global strategy to expand internationally and support the growth of our US based merchant customers in Europe… Dublin will also be a platform for developing into Eastern Europe and the Asian Pacific markets.“ Shane Fitzpatrick, MD
Activities: • Sales & marketing• Account Management• R&D (new payment
methods for EMEA clients)
• Operational support
Ireland’s strategic location enables Chase Paymentech to support 24 hour markets between East and West.
Dublin is the Group’s
EMEA HQ
Chase Paymentech processes the merchant side of cheque and credit, debit, and pre-paid card payments
1997 2004 Today
Began serving the European market
Consolidated European operations, creating a European HQ in Dublin
Management centre for European operations, and regulated through Europe by the Central Bank of Ireland
Indigenous Payments Sector in Ireland
• Competitive cluster: Competitive cluster of 25 indigenous companies in the payments sector exporting c. €225m in 2010 and employing c.1,600 people.
• Irish clients winning key accounts with: Hertz (Monex), HBOS (Omnipay), BMW Sauber (TaxBack), Tommy Hilfiger (Fintrax), bmibaby (Continuum Commerce), Eastern Airways (Realex)
• Strength of capability within Ireland: Ireland has strong capability in particular in Dynamic Currency Conversion (DCC), PCI compliance, prepaid cards, payment processing platforms
• Strong Ecosystem of overseas owned companies based in Ireland: Paypal, Chase Paymentech, Mastercard, Elavon Financial Services, ACI Payment Systems, Vesta Payment Solutions active in Ireland
Irish Payments Companies (1)
Irish Payments Companies (2)
THANK YOU
For more information please see our website
www.idaireland.ie
Or Contact
International Financial Services Division
Telephone: +353 (0)1 6034000