PPS, formerly PrePay Solutions, and subsidiary of Edenred, the everyday companion for people at work, has today been approved to become an issuer and processor of Visa.
Through the partnership, PPS will be able to offer its customers, including fintech providers and challenger banks, full access to Visa’s products, including issuing Visa branded cards. Incorporating Visa’s product range into PPS’ award-winning payment platform further enhances its ability to power fintechs and in general, financial institutions who wish to partner with Visa. Following the certification, PPS’ innovative processing platform will facilitate issuer and programme manager integrations with Visa across Europe.
Ray Brash, CEO and Chairman of PPS, said: “The digital payments market is growing exponentially, and Visa is investing heavily in the fintech sector. PPS is already a leader in providing a full Bank out of a Box service with Issuing, Card and Bank Processing and Core Banking Services all from one provider both in the UK and in the EU. That’s why we’re delighted to start our collaboration which will offer more choice to the market and look forward to becoming a fully certified Visa issuer and processor in the coming months.”
The news comes just after PPS’ rebrand, marking the company’s shift from supporting not just prepaid solutions but also to working with the broader fintech market.