Aconite today announced an agreement with Paymobile Inc., that provides for a complete outsource solution for EMV open loop prepaid issuance.
Paymobile's prepaid programs, using Aconite's smart card prepaid and application management platforms, will enable issuers to quickly move to EMV prepaid card products. The issuer is also 'future proofed', as this solution provides the ability to issue and manage multiple applications such as benefits payments, public transport ticketing and other specialized prepaid card products.
Aconite is a leading provider of software and consulting services for managing business applications on chips in smart cards, tokens and mobile phones. Paymobile is a Canadian technology company providing businesses and government with complete program management services for a wide range of open loop prepaid and virtual card accounts.
Paymobile's use of Aconite's Prepaid Value Manager provides world-class EMV open loop prepaid card issuance program management services to Paymobile issuer clients. Aconite Prepaid Value Manager supports the issuance, available balance and shadow/sub account management of an overall, EMV based prepaid / pre-authorized processing environment. Aconite Prepaid Value Manager supports smart prepaid products that can be used with both online and/or offline terminals; in contact and/or contactless mode, and closed or open-loop schemes.
Mike Vasalenak, Aconite's Regional Director for Canada, said "We are very excited to be working with Paymobile in the Canadian market as our two companies can together offer unique capabilities in smart prepaid services to Canadian issuers. This partnership also reinforces Aconite's commitment to the Canadian market" added Patrick Regester, Aconite's EVP Sales and Marketing.
President and CEO of Paymobile, Gino Porco, commented, "EMV is a progression which we believe will soon totally replace magnetic stripe cards. We are excited about the opportunity to partner with Aconite, which will provide us a meaningful advantage in delivering value and security to our existing and future clients in the prepaid space. Aconite's expertise coupled with Paymobile's card management systems and mobile technology will catapult us beyond what's currently available in today's marketplace and for years to come".