Fintech company Prepaid Financial Services (PFS) has completed the acquisition of the physical prepaid card portfolio of Barclaycard in the UK.
The migration of the acquired Barclays prepaid card portfolio onto PFS platform is also complete.
Go deeper with GlobalData
PFS CEO Noel Moran said: “We had been in discussion with Barclays regarding their physical prepaid cards and looking at opportunities to work together.
“In January, we agreed a deal whereby PFS acquired Barclays’ portfolio and would work with Barclays to migrate clients off the existing prepaid platform and over to PFS.
“We are working hard to achieve a seamless migration for clients of Barclays.”
PFS acquisition
The acquisition will strengthen the overall portfolio of PFS. Moran expected that the deal will also provide a better service to its existing and future payroll and corporate clients.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBased in London, PFS provides payment technology solutions including e-wallets, physical and virtual prepaid cards. It is also associated with designing, developing, implementing and managing these programmes.
It is authorised and regulated by the FCA. Furthermore, the company has active programmes in 25 countries and offers transaction services in 23 currencies.
PFS’ clients include governments, local authorities, NGOs, mobile network operators, banks and corporate clients.
Very recently, Barclaycard signed a new card acceptance partnership with UnionPay International.
