8.6 C
New York
Tuesday, July 27, 2021
Home Fintechs New "Money To Pay" prepaid card from CaixaBank and Global Payments

New “Money To Pay” prepaid card from CaixaBank and Global Payments

CaixaBank and Global Payments are building on a series of partnerships to build a joint prepaid venture in Europe.

The venture will operate under the CaixaBank’s MoneyToPay brand, with Global Payments owning a 51% share over the bank’s 49%. This brand was formed by CaixaBank in 2012.

Read also: Barclays executives donate 1/3 of pay to COVID-19 charity

Kelley Knutson, senior executive vice president of Global Payments and president of its Netspend prepaid unit, will be MoneyToPay’s chairman.

Netspend was acquired by TSYS in 2013 for $1.4 billion before TSYS itself was acquired by Global Payments last September for $21.5 billion.

CaixaBank and Global Payments have been maintaining a close partnership since 2010, starting with creation of their first joint venture Comercia Global Payments.

With a total market share in the merchant acquiring field of 27% and more than 400,000 businesses as customers, Comercia Global Payments is one of the leading payment services providers in Spain.

Read also: Lunar launches stock trading platform for beginners

Caixabank has two other joint ventures with Global Payments. The first is a three-part joint venture with Global Payments and Erste Bank of Austria to provide merchant acquiring and payment processing services in Austria, the Czech Republic, Slovakia and Romania.

These two mentioned companies along with Samsung, Visa and Arval, have also developed Payment Innovation Hub, the first multi-sector business alliance hub in Spain to focus on payment methods and business solutions.

Sources: https://www.fintechfutures.com/2020/04/caixabank-and-global-payments-create-prepaid-card-under-moneytopay-brand/https://www.nsbanking.com/news/caixabank-global-payment/https://ibsintelligence.com/ibs-journal/ibs-news/caixabank-global-payments-team-up-for-a-new-joint-venture-in-the-european-prepaid-service-market/

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Starling Bank revenue skyrockets by 600%

The digital bank Starling has managed to grow revenues to £97.6 million from £14 million in the previous period.

Revolut launched a travel booking feature

After Softbank lead an $800 million investment into Revolut, the UK-based challenger bank came up with another feature - travel booking.

Kid accounts and challenger bank options for children

Revolut junior vs. Starling Bank Kite? 🤔 Once again Everly - challenger bank news joined forces with the Scientia team and their Fintech Insights, the digital banking research platform, to compare several challenger banks' junior accounts from parent's and kid's perspectives! 👍 Check the full article here

Lunar raised €210m and reached unicorn status

The Danish challenger Lunar Bank has raised €210m in Series D funding and managed to reach unicorn status.