About

About

      M1 Payments Corridor

An M1 ‘Digital Payments Cluster’ is a key part of the Government’s NorthEast Action Plan for Jobs which proposes the creation of a ‘digital payments hub’ along the M1 economic corridor with the potential to create hundreds of sustainable new jobs.

The M1 Payments corridor has been developed and proposed by The Mill Enterprise Centre, Drogheda, as a means of utilising and adding value to the geographic concentration of ePayments and Fintech transaction companies along the M1 corridor (i.e. PayPal, Vesta, State Street, Yapstone etc)

It is an industry grouping of ePayments / Fintech companies, and allied stakeholders (IDA, EI, DCU, DKIT, Louth Economic Forum), promoted by The Mill, that serves the wider geographic M1 corridor in a Fintech vertical known as ePayments.

Industry members of the M1 Steering Group include Vesta, PayPal, State Street, Aphix Software, Yapstone, and Coca-Cola International Services.

M1 Payments Corridor Map

THE THREE STRATEGIC PILLARS

Building R&D capacity with the two major 3rd level institutions – DCU and DkIT

Enabling up/down stream interaction between the Startup/SME community and MNC to drive innovation and capability building

Providing marketing supports and collateral
for Foreign Direct Investments

The specific deliverables within the charter of M1 Payments Corridor are:

  • Acting as the regions facilitator for an open talent marketplace where, in coming years, payment companies transform toward models where they run their organization less like a hierarchy of static business processes and operate collaborative payment ecosystems

  • Creating such a regional payments ecosystem built on interdependence within which the cluster of payment companies collaborate seamlessly to develop interoperability and financial inclusion

  • Fostering and facilitating, together with our academic partners (DCU and DKIT) collaborative R&D for Platform developments that act as the central hubs for digital ecosystems and being the catalyst for innovation in indigenous companies

  • Being the primary stimulus in concert with government agencies (EI and IDA) to deliver regional jobs, as per Regional Action Plan Strategy

  • Link the IFSC FinTech Strategy (specifically Payments) to the rest of the M1 corridor / North-East / Nationally

  • Being a marketing vehicle to attract new FDI to Ireland, and the North East in particular – the Gateway for Payments companies to Europe

  • Developing further international partnerships, with relevant innovating organisations, as in the example of ATP in Transaction Alley/Georgia

  • Leveraging location of M1 Payments Centre with Drogheda having ‘stepping-stone’ advantage – Close enough to IFSC Dublin & Airport , but also key gateway to North-East for true regional development

  • Supporting member companies in accessing EU research funding, for example, H2020

Mary McAleese Boyne Valley Bridge Images by Damian Smith are licensed under CC BY 2.0