Realex to create 50 jobs

Payment services provider Realex Payments is creating 50 jobs in Ireland over the next six months after it won a significant services deal in the UK.

Details of the deal have not yet been announced, but the company said the agreement would see it providing outsourced services to a financial institution for its retailer’s online payment processing.

The deal will see Realex increase its client bases to 10,000 retailers in the coming year, compared to 5,000 currently.

The new roles will be in customer service, product management and IT, and will be mainly based in the company’s office in Monkstown, Dublin.

“Over the last few years , we have invested heavily in expanding our operations throughout Europe – our UK business is now boarding almost 100 retailers a month, we opened in Paris earlier this year and are now live processing into local French banks,” said chief executive Colm Lyon “Our overseas customers now account for over 50 per cent of our transaction volume.”

The Irish Software Association (ISA) welcomed the announcement by Realex, saying it highlighted the strength of the indigenous software sector.

"Since January this year, over 80 jobs a week have been announced by indigenous or multinational technology firms based in Ireland," said

ISA director Paul Sweetman. " Employment in the sector increased by 6 per cent in 2009 and a further 4 per cent in 2010."

Realex also revealed its financial results for the year, recording a ninth consecutive year of revenue growth. The company increased its revenue by 10 per cent for 2010, reaching €7.7 million, while accumulated profits were 14 per cent higher at €3.5 million.