Paynetics appoints Ian Clowes as chairman of UK business

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Fintech and trusted payment services provider Paynetics AD has announced the appointment of Ian Clowes as chairman of Paynetics UK.

Clowes brings over 30 years of executive and board experience in the financial services, payments and fintech industry. Most recently he was founder and CEO of Payment Cloud Technologies (PCT), a B2B digital banking and payments platform started in 2008. Ian merged PCT with Tuxedo Money Solutions to form the Omnio group in 2019.

“I am thrilled to be joining Paynetics at this inflection point in its growth,” said Clowes. “Paynetics is uniquely positioned to provide end-to-end payment solutions to companies and become a leading player across Europe, with global reach. Moreover, as it’s not encumbered by legacy systems Paynetics is a driving force in the digital-first agenda.”

Clowes is an influential player within the payments industry and serves in board and advisory capacities for companies such as Abbey Bank, Money Card Ltd, Travelex, Change Account, Travel Welfare and FS Horizons, as well as industry associations and regulatory bodies including the The Payments Association, APACS Council, BACS and the Cheque and Credit Clearing Company. 

Clowes is also a seasoned entrepreneur and has an impressive track record of launching and building successful businesses in the fintech space. His career has included roles such as director of Abbey Bank (now Santander), director of Unisys and CEO of an investor-backed, high-growth digital payments and banking platform company. He earned his MBA from Warwick University.

The appointment follows Paynetics UK’s acquisition of Wirecard UK & Ireland assets, in the form of corporate customers, late last year as well as the appointment of Mike Peplow as its new CEO. Built around a mission to democratise and simplify payments, Paynetics brings together next-generation payment technologies, including card acquiring and issuing, IBAN accounts, money transfers, e-wallets and software POS, all under one roof.

Valeri Valtchev, co-founder, Paynetics, said: “We’re thrilled to appoint Ian as chairman of our UK business. The UK is the most sophisticated financial services market in the world and as a young, innovative company we’re proud to bring something different to the table. But in order to keep up with the high standards that are demanded by this industry, we need a trusted pair of hands and know that Ian is just that, together with Mike and the rest of the UK team.”

Ivo Gueorguiev, co-founder and executive chairman, Paynetics, added: “Ian’s appointment is another key milestone in the growth of Paynetics and we are so pleased to have him join us in our mission to simplify payments. We’re growing rapidly but it’s still of the utmost importance to us that we keep our deep industry knowledge and technical expertise at the heart of what we do which is why, with his wealth of experience in the fintech and payments industry, bringing Ian on board is so exciting for us.”

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