M2 Global Ltd. (BSX:M2G) and Altair Technologies Ltd., a London based company, today announced the formation of a business relationship designed to help each be a more formidable competitor in the financial transaction processing, prepaid and debit card operations business.
M2 Global is widely regarded as an experienced, stable and secure processing firm and will assume management of Altair's entire processing capability, including the operation of its data centers. This move allows Altair to focus more resources on expanding its innovative card products and building on the client delivery strengths and positive customer experience it is known for.
Consolidating operations with a strong processor will create added efficiency and ensure cost competitiveness for both organizations. M2 also brings its patented security and fraud mitigation capability to the business, a strong value proposition for Altair's clients. "As we build our relationship, the combined strengths of both companies will lead to innovative yet sound business opportunities for our present and future customers," said Mike Muscato, Chairman of M2 Global. He added, "Our immediate focus, however, is to make this a seamless transition for Altair's banking relationships, customers and card holders."
Executives from both organizations see this as an opportunity to build stronger relationships with the global brand-name clients each represents, while strengthening each other's position in a competitive market. In interviews, each company stressed the importance of improved services for clients and partners. Financial details were not disclosed.