Based in London, Allied Wallet is an online merchant services and global payment gateway solution for businesses in Asia, the United Kingdom, and the United States. It has a real stronghold in Asia, specifically, China. In fact, in June 2011, Allied Wallet became the first US and European-based merchant services providers to allow transaction settlements in the renminbi and the Chinese yuan.
Allied Wallet is a privately held company that was founded in 2002 by Andy Khawaja, who was then known as Ahmad Khawaja. Since its start, Khawaja has built the business into a multi-billion-dollar company.
Allied Wallet offers customized payment solutions to businesses of all sizes and industries, and claims to serve more than 125 million customers worldwide. It accepts 164 types of currencies in 196 countries. More than 100 million customers use its eWallet services. Additionally, it offers an online payment gateway, a virtual terminal, and online tracking, reporting, and management of transactions. Also, if needed, it offers free integration. Security is important to Allied Wallet. It is PCI-compliant and offers a customizable fraud scrubber. Also, it uses an alternative payment option for declined transactions.
Allied Wallet’s payment processing is done by First Data, which has a worldwide presence across 118 countries, serving 4000 financial institutions and six million merchants. First Data processes more than $1.9 trillion worth of transactions every year and they process 28% of the world’s ecommerce volume.
Though Allied Wallet has an impressive portfolio and a business that continues to expand, it may be best known for its ties to the online gambling business, Pokerstars. In 2010, Allied Wallet and Allied Systems, Inc., which is also owned by Khawaja, agreed to forfeit more than $13.3 million to settle a federal civil forfeiture claim, alleging the funds they processed were involved in money laundering. The FBI was able to trace the funds to proceeds of illegal gambling businesses. This was an isolated incident and the brush with the law did not seem to tarnish Allied Wallet’s reputation.