E-Clear is a British payment processing company handling credit card transactions, presently under an administration order. It provides merchant accounts for companies, allowing them to accept credit cards as a form of payment.
Formed in 2002 and based in Mayfair, City of Westminster, the company is based in Britain, but owned by a parent company registered in Cyprus, and its chief executive Elias Elia is a Greek Cypriot. E-Clear specialises in the travel industry, and is one of the main four companies handling credit card transactions for airlines and travel agents in the UK.
In 2007, Deutsche Bank announced the end of its agreement for card processing with E-Clear. As a result, E-Clear began buying shares in NordFinanz, a small loss-making bank in Bremen. By 2009, E-Clear owned 97% of the shares in the bank.
Board Members
Members of the company's board include Elias Elia, Derek Tullett and Sir Edward du Cann.