Transact Network, a European prepaid card issuer, is now offering its services through Visa Europe as a principal member. The company has completed the implementation of its first Visa bank identification numbers (BINs). Two new Visa Europe prepaid programmes will be going live this month.
Transact Network is one of only a handful of European prepaid issuers offering prepaid card programmes under both major card schemes, giving more choice to existing and new programme managers and brand partners.
Kriya Patel, sales director, Transact Network, said: “As a principal Visa member, we are underlining our leading position in the prepaid market. We are now a one-stop shop for our current partners, and have a stronger proposition for potential partners looking to implement new prepaid card programmes. Transact Network has already issued over half a million prepaid cards with over 100 partners. With the addition of Visa prepaid card programmes, we hope to double our cards issued over the next six months.”
Fiona Duncan, senior vice president (SVP), prepaid at Visa, said: “We welcome Transact Network to Visa Europe. At Visa Europe we estimate that the card opportunity for prepaid in Europe will be €442bn by 2015, so we are tremendously excited by the opportunities this brings to our members.”
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