W2 has signed an agreement with GPS, a MasterCard and Visa accredited processor.
GPS’s fully outsourced end-to-end solution includes: payment processing at its core, programme management tools, bespoke software development, financial control and reconciliation, technical support and card-holder customer services.
GPS specialises in the prepaid sector and offers expertise in prepaid products across a number of sectors including open and closed loop gift cards, general spend, corporate spend, payroll, sub-prime/ debt management, teenage spending, business-to-consumer (B2C) ‘cash out’, and travel money/remittance.
The addition of W2 web based, online verification screening tools to the core GPS management platform means that GPS and their clients can now conduct Know your Customer (KYC), Anti Money Laundering (AML) and Fraud prevention due diligence, supporting future growth and achieving regulatory compliance to ensure frictionless customer on-boarding, safer account acquisition and increased application conversion with a reduced total cost of operation.
Martin Pashley, Chief Commercial Officer, said “We are delighted that GPS have chosen W2 to be their strategic partner in this area; together we aim to bring a unique sense of trust and intelligence,” Pashley added.
“It is difficult to offer all the elements of the payments value-chain without losing focus of our key strengths as a leading issuer-processor, so the GPS strategy has always been to partner with service providers that offer the best of breed for their sector” said Suresh Vaghjiani, Executive Vice President, Card Services at GPS. “By partnering with W2 all our clients have direct access to a myriad of global KYC providers via a simple API call to us without the need to integrate with any third party providers. We continue to enhance our offering by giving our clients unrivalled flexibility in the way they use our services, W2 has allowed us to do this in relation to a complete KYC solution.”