RBS cards executive Ron Kalifa joins Magex board of directors

Source: Magex Holdings

Magex Holdings Ltd, a leading provider of electronic payment services, announced today that Ron Kalifa, Managing Director, Retailer Card Services at The Royal Bank of Scotland Group (RBS), has joined the Magex Holdings Board of Directors.

Magex Holdings has three operating subsidiaries: Magex Ltd which provides electronic payments services across the Internet and mobile channels; Open Payment Technologies Inc in the United States; and Open Payment Technologies Ltd in the UK which both provide electronic gift card and loyalty programs to retailers.

RBS is one of the leading investors in Magex and has traditionally held two seats on the board. Mr. Kalifa joins his RBS colleague, Finlay Williamson, Finance Director, Retail Direct as the other RBS director. "Ron has held a number of important management roles at RBS, and his experiences across a range of banking, card acquiring, and business development positions will bring an important perspective to Magex as we continue building our prepaid cards and electronic payments businesses," commented Josh Groves, CEO of Magex.

Mr. Kalifa joined NatWest in 1978 prior to its acquisition by RBS in 2000, and has held various positions within NatWest and The Royal Bank of Scotland. He served as COO of NatWest Bancorp, was head of Internet banking for RBS, and became Managing Director of WorldPay in 2002 following its acquisition by RBS.
In 2004, WorldPay acquired Bibit, the leading European payment provider specialising in the corporate sector. Mr. Kalifa managed this combined entity along with Streamline International as Managing Director. The business has operations throughout Europe, Asia and North America and is the leading multi-currency credit card acquirer/processor in Europe. In 2005, Mr. Kalifa was appointed Managing Director of Retailer Card Services which includes the Streamline and TrustAssured businesses as well as the WorldPay and Bibit services. Streamline is the leading UK merchant acquirer, servicing over half of the businesses accepting cards in the UK.

"Ron Kalifa has done a remarkable job building up the RBS card acquiring business both through acquisitions and internal growth. At Magex, we look forward to his insights and strategic advice as we continue to grow our business in a similar way," said Steven L. Fingerhood, Chairman of Magex.

Commenting on his appointment to the Magex Board, Mr. Kalifa said, "I'm delighted to join the Magex team that has successfully deployed innovative payments services and is rapidly growing its Opticard prepaid cards business in the U.S. and Europe. I look forward to contributing to Magex's expansion in these areas."

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