BancTec a global provider of advanced, high-volume, document and payment processing services and solutions, today announced that it has signed a five-year agreement with Payment Card Technologies (PCT) in which it will deliver IT outsourcing and call center services to support PCT's fast-growing prepaid card business.
PCT integrates banking services and technical infrastructure to provide one of the most robust, reloadable prepaid card systems for businesses around the world, including talkSPORT, Cash Generator and International Bank of Ghana.
Within the agreement, BancTec will support back office process work for PCT, enabling PCT to expand internationally and build upon its leadership position in the movement from paper check processing to electronic card transactions. The outsourced IT services BancTec will provide for PCT include web hosting, software support and application development for both existing and new customers. In addition, BancTec will manage PCT's call center, which provides end-user support and resolves general account holder inquiries.
"The demand for specialized prepaid cards is expanding rapidly in the UK and throughout Europe," said Frank Lambe, Executive Chairman, PCT. "BancTec's services will support us as we grow to meet this demand, primarily by allowing us to focus on our customers and products, not back office operations."
"We look forward to working with PCT to help grow its business and expand its service offering," said Steve Downey, General Manager, BancTec Ltd. "With the flexibility provided by our network of IT service and call center facilities, PCT will be able to rapidly fulfil new customer requirements in the ever-expanding prepaid card market."
PSE Consulting estimates that there are currently 2.3 million prepaid cards in the UK. By 2010, the market is expected to grow to more than 70 million cards. Also by 2010, prepaid card market turnover in EMEA will reach approximately euro 75Bn.