09:52 AM
Connect Directly

Metavante Announces Rollout of MasterCard rePower

Metavante's European arm, Metavante Technologies Ltd., (London) which provides prepaid and debit services in Europe, has gone live with the MasterCard rePower solution, the point-of-sale reload service for MasterCard and Maestro prepaid cards in Europe.

MasterCard rePower uses the MasterCard merchant infrastructure through its acquiring partners to deliver a network of top-up locations in Europe for prepaid MasterCard and Maestro cards. According to Metavante, it has been working closely with MasterCard and will be the first processor in Europe to complete the implementation which will service Advanced Payment Solutions' (APS) range of prepaid card programs. APS is a European prepaid card provider that outsources the processing of all of its card programs to Metavante.

"This is a major step forward for the prepaid card industry," said John Yeomans, president of Metavante Technologies Ltd., in a statement. "One of the most significant hurdles for any issuer in providing customers with high utility prepaid products is the provision of widely available reload points. MasterCard rePower allows our card issuers and program managers to do just that, and the return on investment of their card programs is likely to improve as a result."

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology - August 2014
Modern core systems are emerging as the foundations of effective channel integration and customer engagement initiatives.
Bank Systems & Technology Radio
Archived Audio Interviews
New IT Models for New Financial Services Challenges