Contis Group, which provides online banking and prepaid card technologies and services to global banking and retail brands, has acquired card issuer GTP Financial Services for an undisclosed sum.
The purchase of GTP Financial Services – with a full e-money licence, passported through all 28 EU Member States – boosts the group’s standing to one of a handful of end-to-end service providers in the prepaid card industry.
With a portfolio also comprising Contis Card Solutions, Contis Collections, Contis Technologies India and GTP Solutions, Contis general manager and director, Mike Fromant says the group will further develop its strengths and capabilities as a full supplier of Visa prepaid card solutions across the UK and EU.
Fromant said: “This milestone positions us as a major player in what is becoming a complex and often poorly serviced sector. We see great opportunities in developing innovative prepaid solutions which can be linked to our internet banking solutions, as well as to our advanced payment platforms.”
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