Store Financial Services UK (SFUK), trading as Emerchants Europe, has inked a new BIN sponsorship agreement with Transact Payments, a subsidiary of The Bancorp, to issue new Emerchants prepaid products in Europe.
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Transact Payments, a regulated and authorised e-money licensee by the Gibraltar Financial Services Commission, serves as a principal member of MasterCard and Visa Europe.
The sponsorship deal will allow Emerchants to leverage its e-money issuing capabilities across all EU member states as well as support the growth of the Emerchants prepaid business into the European marketplace.
Emerchants managing director and CEO Tom Cregan said: "The acquisition of SFUK enabled us to acquire a profitable and growing prepaid business with experience in multiple European markets and an experienced management team capable of growing the core business and leading the transition to focus on prepaid debit programs.
"We identified The Bancorp as our preferred European partner, and we have been working with their team to execute this agreement, which will see us be in a position to launch programs in the near term. We couldn’t be happier with the discussions we have had with them and we look forward to a mutually beneficial relationship in the years to come."
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By GlobalDataSFUK was acquired by Emerchants in December 2014.
