Optimal Payments’ Stephen Shaper Relinquishes Directorship

Optimal Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Plc announced that Stephen Shaper, the payment provider’s non-executive Director, has decided to relinquish his board role and step down with immediate effect, according to an Optimal Payments statement.

Mr. Shaper’s decision snaps a nearly three-year stint as Optimal Payments’ non-executive Director of the Company - a position he has held since 2012. Optimal Payments has already commenced with an immediate process to tap a replacement to serve as the company’s non-executive Director.

According to Dennis Jones, Chairman of Optimal Payments, in a recent statement on the departure, "On behalf of the Board, management team and shareholders, I'd like to thank Steve for his significant contribution over the last four years as this company has grown so successfully. We wish him the very best for the future."

"On a personal note, I'd like to extend my gratitude to Steve for his significant contribution to the growth and outstanding success at Optimal Payments. Steve has a long history with Optimal as he served as a board member on the earliest iteration of the business, Surefire Commerce. Over the years Steve has become a mentor, friend and trusted advisor to the Executive Team. We wish Steve the best of luck in his future endeavors and continued success in his pursuits," added Joel Leonoff, President & CEO of Optimal Payments, in an accompanying statement.

Earlier this year, Optimal Payments, the group behind the popular NETELLER payment solution, bought out rival Skrill Group (Sentinel Topco Ltd) for a sum of approximately $1.2 billion in a bid to expand its online services.

Optimal Payments is an online payments company based in the Isle of Man and regulated in the UK. The group provides the NETBANX gateway solution, NETELLER e-money payments, and a free person-to-person (P2P) money transfer service.

Optional Payments Plc (LON:OPAY) is currently trading at 259.55p during European trading Monday, having incurred a fall of -1.68% at the time of writing. The stock is sitting just under a 52-week high of 273p set last week.