Online banking and prepaid card technologies
provider Contis Group has acquired prepaid card issuer GTP
Financial Services for an undisclosed sum.
The acquisition is expected to “turbo charge”
Contis into becoming one in only a handful of true end-to-end
service providers in the prepaid card industry as it serves to
strengthen its capabilities as a full supplier of Visa prepaid card
solutions across the UK and EU.
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“This milestone positions us as a major player
in what is becoming a complex and often poorly serviced sector,”
said Mike Fromant, Contis’ general manager and director.
“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.”
Contis will use the acquisition of GTP
Financial Services to answer the “voracious demand” from programme
managements throughout the UK and EU that are looking for a partner
who can retain total in-house control, demonstrate a full set of
capabilities and can be relied on for timely and professional
delivery of schemes.
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