Allied Wallet, Inc. is a provider of e-commerce merchant services and online payment processing services, enabling business owners to accept credit cards and other payments on their websites. The company has offices in Los Angeles and Trafalgar Square, London.
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History
Allied Wallet was founded by businessman Andy Khawaja (then Ahmad Khawaja) in California in 2002. He resigned from being a vice president of men's fashion company Bernini in 2001 and hired a group of developers to implement his payments company plan. Khawaja did not rely on investors' money to start the company, using his own money instead.
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Operations
Allied Wallet told the press in 2013 that it had 88 million customers in 196 countries and processed 50 currencies. The company uses a secure Internet payment mechanism like PayPal. It forecast $55 billion (£36 billion) of transactions in 2013.
It is a licensed issuer and acquirer of Visa and MasterCard. It also handles peer-to-peer money moves and smartphone payments. Allied Wallet says that its credit card fraud rate is 0.04%, which is lower than the average 2% fraud rate reported by the United States Department of Justice.
According to KCBS-TV in 2015, Allied Wallet's starting salary is around six figures. Its perks include Friday lunches and weekly massages.
Offshore gambling settlement
In 2010, Allied Wallet reached an agreement with the U.S. Justice Department to forfeit $13.3 million to settle allegations that the money was traced to illegal gambling at offshore websites, including Isle of Man-based pokerstars.com.
References
External links
- Official website
- "Allied Wallet Review". Card Payment Options. Nov 13, 2013. Retrieved May 1, 2015.
Source of article : Wikipedia
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