Advanced Payment Solutions (APS), has announced the acquisition of a card portfolio from Blue Sky Card Solutions Ltd, consisting of over 12,000 customers.
Richard Wagner, CEO of APS commented; "We recognise that consolidation in the prepaid card industry was inevitable. We are glad to be in a strong position to help prepaid card programmes who want to exit and achieve the best for their customers and shareholders"
Amit Patel, CEO of Blue Sky, commented; 'APS was quick to respond to our strategic sale and we knew they were in the best position to give our cardholders the best alternative product. In addition to their experience with migrations, APS provided some great technology to simplify the customer transition which ultimately gave us the confidence that the bid from APS was the clear winner in the sales process'.
APS continues to be well placed to acquire other prepaid card portfolios whether winding up or wanting to exit the prepaid market. The APS technical solution ensures a quick and easy transfer of customers' databases and a trouble-free process. It works for portfolios of all sizes and database structures. The main APS advantage is a bespoke 'quick app' solution requiring just 1-click by the customer and the rest is down to APS to migrate the customer successfully.
Richard Wagner, CEO of APS reiterated; "We've developed this turnkey solution for providers that want to exit the market. We make the process very straightforward for the company and their existing customers. We are looking to do more in the future"