Contis Group, one of Europe's leading e-money institutions, today announces a strategic partnership with prepaid specialist Oblong Cards. Under the terms of the partnership, Contis Group's next generation payments infrastructure will power a portfolio of open, restricted and closed loop prepaid card solutions delivered by Oblong to its international client base of member organisations.
Oblong Cards specialises in delivering card solutions that create unique value for the members of clubs, unions and other community and member-driven organisations across a variety of sectors, from travel and tourism, to sport and financial services. Through the partnership, Oblong can leverage the flexibility and versatility of Contis' prepaid platform, together with its status as a Principal Member of Visa, in order to design solutions that are tailored precisely to the individual needs of each of its clients.
Commenting on the partnership, Ian Hossack, Managing Director of Oblong Cards, says: "Oblong doesn't produce standard products for its clients. Our relationship with Contis empowers us to create solutions that meet each of our client's specific objectives with the confidence that our core supporting platform is capable of supporting the concept. Contis is one of just a handful of providers capable of offering all the components needed to bring a prepaid solution to market under one roof, which helps us to deliver innovative solutions in a fraction of the usual time. By harnessing this flexibility, we are able to integrate loyalty and rewards schemes, member discounts, bespoke online accounts, multiple cards and other value-generating initiatives into a single solution, enabling our clients to increase their own member value as a result. We already have a variety of exciting solutions currently being implemented and we look forward to sharing more details on these in the coming weeks."
"Large member associations can benefit greatly from bespoke, integrated card solutions," adds Mike Fromant, Managing Director, Contis Group. "By creating value through payment, loyalty and rewards schemes designed around the interests of members, Oblong's clients can boost member engagement, extend the longevity of their subscriber base and even drive greater cost efficiencies in their own operations. Oblong is known for its innovation in this sector so it makes perfect sense to marry their skills with ours; the result is a powerful combination of unconventional thinking and real technical agility. Product ideas can now be conceived, designed and brought to market in a matter of days. We're very excited by the disruptive potential of this partnership."
Contis and Oblong expect to deliver a series of announcements detailing successful customer implementations across a variety of vertical industries in the coming months.
The partnership with Oblong follows recent news of Contis' corporate expansion and revenue growth. Also in June, the firm has announced annualised monthly compound annual growth rate of 202% between June 2012 and March 2014. Year on year revenue has increased by 93% in FY14 and management is forecasting further growth of 147% for financial year ending March 2015.