Ixaris, a provider of prepaid payment applications, which launched Visa Europe's first virtual Visa programme in 2003, is now working directly with Transact Network to issue both virtual and plastic prepaid VISA cards for its leading EntroPay and Opn payment solutions.

Transact Network has worked with Ixaris since 2009 to issue MasterCard products. This new deal signifies the Gibraltar-based company's first large scale Visa implementation since announcing earlier this month its ability to offer services through Visa Europe.

William Lorenz, Banking Director at Ixaris, said: "Given the success of the partnership with Transact Network, it was only natural to expand our relationship to include virtual and plastic prepaid Visa products. Transact's ability to design and deliver prepaid programs in a cost effective manner is critical to our successful partnership. We are excited about expanding our existing partner network."

Kriya Patel, Sales Director at Transact Network, added: "We've worked with Ixaris for more than two years, and I'm delighted we can build on this successful relationship to offer added value through our recent membership with Visa. Ixaris is one of the original innovators in the European prepaid space and we are pleased to be able to support enhancing their core product offering through our partnership.

"This is a great example of how Transact Network can now offer increased choice and flexibility to existing and new program managers through being one of just a few prepaid service providers offering programs on both major payment systems."