FIS has signed up 80 new contracts for prepaid
card processing solutions so far in 2011.
The banking and payment technology provider
said that the new contracts were agreed worldwide and included
clients that were just entering the prepaid market.
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FIS said its prepaid card processing solutions
covered all aspects, such as setting up accounts and managing them,
producing the cards and offering personalisation; as well as
inventory and distribution management, transaction processing,
fraud detection and prevention, fund settlements.
According to Frank D’Angelo, executive vice
president, FIS Payment Solutions Group, FIS has 100m cards
worldwide and processes 775m transactions every year.
One of its newest clients is Los
Angeles-headquartered 24/7 Card, which is going to use the
processing platform to offer remittance services on reloadable
prepaid cards.
24/7 Card’s 24/7 Visa Prepaid Debit + Remit
Card is especially targeted at Filipinos living in the US and
offers card holders debit card functionality in combination with
the prepaid remittance service.
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