Payment processor's major Grimsby expansion

By Grimsby Telegraph | Posted: 14 Dec 2018

A £2 million investment in Grimsby payment processing pioneer Paul Bentham’s home town has been completed by his second venture in the sector, creating more than 20 new jobs.

Retail Merchant Services has significantly expanded on to Europarc, where something of a cluster is forming on the back of more than two decades of entrepreneurialism. 

It now employs nearly 40 staff in Grimsby alone, and is the second largest of three offices for the Milton Keynes-based company he sold his controlling interest in early last year.

RMS followed Cardsave, his Nineties response to being ‘over-charged and under serviced’ by the banks for customers’ card payments, when at the helm of North Lincs Tyres on Lock Hill. Building the first independent merchant services business up over 12 years, he sold Cardsave in 2007. Successor Clive Kahn, backed by private equity, continued the growth, with Worldpay swooping in 2010. But when 145 jobs were pulled from the town, Mr Kahn returned to the town and sector, with Payzone - also on Europarc’s Genesis Business Park - while Worldpay has reinvigorated itself in a neighbouring office suite too.

From left, Peter Matassa, head of operations, Ian Langham, contact centre manager, Bonita Merritt, team leader, Stephen Wells, vice president operations and sales and Scott Wing, sales team manager.

TCV, a major US investor in technology companies, bought Mr Bentham’s majority share out in RMS, and investment has flowed as it pushes on, with the founder still on the board. 

Vice president of operations and sales, Stephen Wells, said: “There is a big mandate to grow the business and we have invested several millions of pounds in new infrastructure and training to continue to do so. 

“We have been investing into the business and into the Grimsby team. We had a small office, in Abbey Walk, but now we are at 40 staff, having had an aggressive recruitment campaign, which is good for Grimsby and good for the team.  All being well in the next 18 months we will be at 60 to 65 people.” 

Read more: Grimsby seafood supplier triples processing capacity with opportunity for further growth

Revenues are up 20 per cent year-on-year, aiding the investment strategy, which has seen a split of Origin One completely refurbished following Engie’s move to New Oxford House in Grimsby town centre.

“We have made a commitment to Grimsby, and the reason is the talent pool,” Mr Wells said. “For card payment expertise Grimsby is a centre of excellence and we can attract some very competent people into the business.” 

Half the team are former Cardsave employees, with others joining from retail backgrounds. Mr Wells added: “The high calibre of individuals is clear and productivity and performance is strong.”

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