Payment technology company reports increased manufacturing & sales of £18m

Thames Card Technology reports increased sales of £18mThames Card Technology (TCT) are one of the UK’s largest plastic card manufacturers and since receiving a £3.2m investment they have increased manufacturing capacity by 50% and generated sales of £18m.

Investment in the company
£3.2m in funding from growth capital investor Business Growth Fund (BGF) has enabled TCT to buy new card manufacturing and printing machinery. This has allowed the company to manufacture over 250m credit, debit, prepaid, gift and loyalty cards; a manufacturing increase of 50%.

“2014 was a year of huge progress at Thames Card Technology across almost all aspects of our business. BGF’s funding has broadened the range of products and services we are able to offer customers, and enables us to keep up with the ever-growing demand for our services. 2015 promises to be a year in which we continue to capitalise on our unrivalled expertise in the card manufacturing industry.”

Paul Underwood, Managing Director and co-founder of Thames Card Technology

Company growth
Thames Card Technology is the UK's largest plastic card manufacturersTCT delivers its products globally to more than 50 countries supplying many blue chip customers across the banking, retail and telecoms industries. They have further expanded their client list with the addition of several significant new clients in the banking and travel industries.  They have recently been working with TUI UK & Ireland, manufacturing the next generation travel money.

Prepaid cards offer a multi-currency solution for travellers and can be used to make a payment in any country or currency where the MasterCard symbol is displayed.

“We have worked incredibly hard to build up our industry expertise and as we enter our 20th year we are aggressively positioning the business for its next phase of growth.”

Paul Underwood, Managing Director and co-founder of Thames Card Technology

TCT has over 20 years experience in manufacturing, personalising and distributing plastic cards for customers all over the world. The business operates from a single secure site in Essex with clients from various different industries ranging from banking and retail to telecoms and ID.

Financial technology industry in Essex
Financial services and related activities are strong in Essex. They account for almost 90% of Essex’s overall finance and business services sector:

• Essex is the largest processor of credit card transactions in the UK
• The county has a key strength in financial administration technology
• 97,700 people employed in financial and business services in Essex

The county benefits from a uniquely strategic location in the UK with strong infrastructure links to the rest of the UK and Europe and close proximity to London, Europe’s no.1 finance hub.

Rise of the fintech sector
The UK is a global hub for finance and business services operations with over two million people employed in the sector. Global investment in financial technology (fintech) companies has tripled in the past year, with the fastest growth witnessed in Europe.

“Fintech is empowering new competitors and start-ups to move into parts of the banking business but, paradoxically, it is also helping banks to create better, more convenient products and services for their clients."

Julian Skan, Accenture Managing Director Banking in Europe, Latin America and Africa

The prepaid card market has been the fastest growing form of payment in the past five years. Prepaid card deposits are expected to rise an additional 120% by 2015 to $168.4b globally*.

Sources: *Mercator Advisory Group [Techworld] [Thames Card Technology]
 

Corinne Hearne
Corinne Hearne

Inward Investment Manager (London-Essex UK Finance Corridor)

+44 (0) 7702 900667

Biography

With over 25 years’ experience in the Financial Services and Global Relocation industries, Corinne has developed an extensive, specialist, commercial network and has successfully supported projects focused on the strategic development and growth of both overseas and UK companies in business, professional and financial services sectors.