Vesta vies for the business of mobile operators, financial institutions, and online merchants looking to offer electronic payment services online, via mobile device, or at the retail point of sale. The payment processing firm works as an extension of a client's customer service department, handling transactions under the client's brand and bearing liability for fraudulent transactions. Vesta also provides services to banks, credit card issuers, and others that offer stored value cards, and allows consumers to recharge prepaid phone plans. Customers have included AT&T, Boost, and MasterCard. In addition tho the US, Vesta has operations in Ireland and China.
In the latter country, th company processes payments made for travel on public transportation and in taxis using cards issued by the Beijing Transit Authority. Consumers are also able to buy goods at restaurants and department stores such as Wu Mart in Beijing using their travel cards.
Vesta often forms partnerships in order to expand services or broaden geographic reach. It has teamed up with several companies, such Nuance Communications, Amdocs, and others, in order to grow its prepaid mobile phone services. In 2009 the company announced a partnership with mobile phone software developer Mobiun to develop an application that enables prepaid customers to add calling minutes to their accounts from any location.
In 2010 Vesta sold its public sector and government agencies payment services subsidiary, Point & Pay, to North American Bancard. The move enables the company to sharpen its focus on the retail payments business.
Vesta was founded in 1995 by a group of investors including CEO Douglas Fieldhouse. – less