Banking and payments technology provider FIS
has agreed to provide its card processing services to support the
launch of a prepaid card program.
Under the agreement with the Association of
British Credit Unions Limited (ABCUL), FIS Card Processing Services
will be used to provide card acquisition, transaction processing
and BIN sponsorship services to ABCUL’s credit union members.
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“We live in an increasingly card-based economy
where the underbanked are at a disadvantage when payment by debit
or credit card is the preferred method of buying goods or
services,” said Sam Hardwick, project operations manager, ABCUL.
“The agreement with FIS provides us with a cost-effective prepaid
program that meets the needs of ABCUL and our membership.”
The launch is viewed as an important addition
to ABCUL’s centrally-sponsored services to its member credit
unions.
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