In addition, the group’s long-established software business, which licenses the Cortex software, will be known as Nomad Cortex.
In 2006, Nomad Payments made huge advances in the prepaid market with the introduction of 40 new programs and nine additional customers live on prepaid projects. In 2007, the MasterCard-approved processor implemented open loop prepaid projects for companies such as ThinkMoney and Tuxedo Money Solutions. Nomad Payments also supports a wide range of debit programs for customers such as the Bank of Ireland and the Islamic Bank of Britain.
Furthermore, Nomad Payments’s gift card programs have seen massive growth, with the addition of 11 new schemes going live in the final quarter of 2006.
Nomad Payments’s chief executive, John Yeomans, commented: We have changed the name of the company in order to more accurately reflect the offering of both licensed software and processing services. Those looking for partners are looking for those with a clear track record in card payments solutions and Nomad Payments’s offering, where the company can act as a facilitator as well as a provider of robust, secure processing technology, is a clear differentiator.
