FIS™, the world’s largest provider of banking and payments technology, today announced that it has signed a multi-year agreement with Payango GmbH to provide prepaid card processing and risk management services in support of Payango’s European expansion of its prepaid card offering.
Payango selected FIS’ prepaid card processing services to extend its legacy platform. Previously, Payango could only serve customers in Germany. FIS’ card processing services have enabled Payango to extend its prepaid card offering to customers across Europe and introduce a programme management service for other prepaid schemes. FIS will also provide risk management services including fraud monitoring and exceptions management, plus continuous active detection to ensure that any potential threats are immediately identified.
“We selected FIS because of its strong track record and its ability to deliver highly successful prepaid projects,” said Volker Breuer, CEO of Payango. “Our work with FIS will enable Payango to act as a programme manager and quickly bring new card programmes onboard. With the ability to offer our products to a pan-European customer base, these capabilities will provide us with many new opportunities to grow our business exponentially.”
FIS supports debit, credit and prepaid programmes, providing the necessary messaging and integration with payments industry schemes. Based on flexible technology, FIS’ card processing services are built on a modern, open architecture to ensure long-term scalability, availability and performance. Using these solutions, FIS supports more than 70 customers throughout Europe, and processes more than 100 million prepaid cards globally.
“We are delighted to be working with Payango on this project. Our expertise, functionality and track record are striking a chord in the fast growing prepaid and risk management markets at the moment,” said Ian Benn, managing director, FIS Payment Solutions, EMEA. “We are proud to be bringing Payango the technology to diversify their business and pave the way for significant new growth. We look forward to working with Payango and supporting its new operations.”
Since 2009 Payango (payango.com) offers a variety of prepaid payment solutions partnering with financial institutions in Europe. From co-branded prepaid credit cards for consumers to online payout solutions for companies of all sizes Payango is a one-stop-shop for open- or closed-loop, card or online-based payments. Payango is based in Berlin and preferred Partner of Visa Europe, the leading credit card organization.
FIS (fisglobal.com) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 33,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is ranked third on the Barron’s 500, 426 on the Fortune 500 and is a member of Standard & Poor’s 500® Index.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.438.6282 / E: mary.waggoner[.]fisglobal.com.