Netspend and Rêv Worldwide have completed the integration of their key strategic assets and formed a new global financial services, loyalty and technology solutions parent company named Ouro. The new company plans to aggressively expand its multi-brand portfolio spanning prepaid, debit, cross-border payments, and loyalty products and service innovations across the globe. The new name and strategy follow the May return of the founders to run the company they started nearly 25 years ago.
The new Ouro group of fintech brands maintains Netspend as a flagship brand and leader in the prepaid card market. This serves underserved customers looking to access payment network merchant acceptance. The company’s X World Wallet, developed byRêv continues. It will expand domestically and internationally with a focus on lifestyle, tourism, and cross-border commerce.
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“With the successful integration and alignment of our people, platforms, and purpose, we are primed to help more consumers worldwide access innovative financial solutions that provide exceptional value, control, flexibility and security,” said Ouro Co-founder, Chairman and CEO Roy Sosa. “The decision to rebrand as Ouro signifies the transformation we’ve undergone the past six months. It reignites our shared commitment to our legacy of customer and partner-centric innovation and reminds us of the infinite possibilities that come with pursuing it.”
Founders Roy and Bertrand Sosa returned to lead the firm in May
The name Ouro draws inspiration and meaning from the Greek word ouroboros. This is an ancient symbol depicting a closed circle with a dragon consuming its own tail.
The Ouro brand acknowledges and reflects the cyclical nature of the journey and transformation the company has undergone since founders Roy and Bertrand Sosa returned to the helm with an acquisition completed in May.
Ouro Co-Founder, President and Chief Brand Officer Bertrand Sosa said: “Ouro is building on a vast set of strategic assets. This includes several proprietary payment processing platforms, a worldwide network of card sale and cash load retail partners, and multiple innovative international brands which today span the entire economic ladder and a global footprint.”
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By GlobalDataOuro will capitalise on its existing portfolio of consumer brands. This includes one of the largest prepaid debit card providers in the United States under the Netspend brand, as well as international brand X World Wallet direct-to-consumer program, Walletplusin partnership with Etihad Airways, andGlobal Wallet in partnership with Itaú bank in Brazil, among other consumer and enterprise programs under management
