Nucleus venture, Smart Transactions Group, featured in The Times ‘10 Hottest Payments Start-ups’

07 December 2011

Why it’s hot

“Despite a relatively low public profile, Smart Transactions Group is something of a growing powerhouse in the UK payments market. It’s the fruition of a merger in May between Applied Card Technologies, which is very active in transport and tourism-related payments, and digital payments company sQuid. Reportedly it now supplies 85% of the the UK’s smart cards and payments, with its collective customer base accounting for 500,000 payments and 50 million transit transactions every month. Ranked 49 in the Sunday Times 2011 Tech Track 100 league table. It’s seen as one of the fastest growing private technology companies in the UK.” © Raconteur Media for The Times

Smart Transactions is the only UK company to be rated in the Top Ten, with five from the US, including Jumio, Square, Dwolla and Boku, and others from Scandinavia and The Netherlands. 

Other recent coverage of sQuid and Smart Transactions Group

The previous day, sQuid CEO, Adam Smith, wrote a lead though-piece for CITY AM challenging Transport for London to open up the Oyster card rather than charging ahead with TfL’s expensive alternative

To see more news on Smart Transactions, sQuid and ACT, visit or follow or

About Smart Transactions Group

Smart Transactions Group was formed out of the merger of sQuid and Applied Card Technologies (ACT) in May 2011, creating a new UK leader in next generation payments, ticketing and rewards. The company has 120 employees with 2011 revenues of more than £7m.

ACT’s systems support more than 80% of ITSO transit smart cards issued to date, processing more than 50 million transactions a month and sQuid currently handling nearly 1.3m payment transactions across its end-to-end payment platform during November 2011.

Nucleus was the founder of sQuid and retains a near 25% stake in the enlarged Smart Transactions Group.