Payment Data Systems unwraps digital card platform

Source: Payment Data Systems

Payment solutions provider Payment Data Systems, Inc. (NASDAQ: PYDS) is opening up its fully digital card platform to third party businesses and developers.

Attendees of Money20/20, October 23-26 in Las Vegas, are invited to visit the Payment Data Systems booth (#1430) to learn how the cutting-edge technology behind the Akimbo Card can benefit their operations.

Payment Data Systems’ digital card platform is the technology supporting the Akimbo Prepaid MasterCard® and Akimbo Gift MasterCard®. It’s the first of its kind in that it supports real-time provisioning of reloadable prepaid debit cards to mobile wallets, like Apple Pay®.

“A customer can sign up for a new Akimbo Card account and have the card in their Apple Wallet moments after completing the enrollment process,” said Houston Frost, Senior Vice President of Prepaid Products at Payment Data Systems. “There’s no longer the need to wait for a plastic card to arrive in the mail before being able to use the prepaid account.”

The Akimbo platform also provides instant issuance and real-time delivery of gift and incentive cards. Businesses and consumers can send customizable gift, incentive and reward cards via email or text. While the recipient can still choose to receive a physical card in the mail, they also have the option to receive the card number virtually through a mobile application. The digital card option results in up to 90 percent lower costs due to the elimination of plastic card fulfillment. Additionally, with transaction text alerts, an intuitive mobile application, and mobile wallet support, Akimbo improves upon the customer experience as compared to the traditional “plastic-only” gift card.

“We’re very excited to share what the Akimbo platform can do for businesses, banks, and developers. Whether they’re looking to launch their own prepaid card programs, or just seeking a novel and inexpensive way to send incentives, rewards, and other payments, the Akimbo platform provides capabilities matched by no other provider today,” said Frost.

“We have a number of partners currently implementing our new digital card platform and look to announce those in the near future,” Frost continued.

Money20/20 attendees visiting the Payment Data Systems booth will receive a complimentary $10 digital Akimbo Gift MasterCard.

The Akimbo Card is available on the App Store and Google Play, and can be used with Apple Pay, Android Pay, and Samsung Pay.

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