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Aconite and Paymobile Partner for EMV Prepaid Card Issuance Program Management in Canada
London, 17th January 2012
London UK and Toronto Canada, 10th January 2012.
Aconite today announced an agreement with Paymobile Inc., that provides for a complete outsource solution for EMV open loop prepaid issuance.
Paymobile’s prepaid programs, using Aconite’s smart card prepaid and application management platforms, will enable issuers to quickly move to EMV prepaid card products. The issuer is also ‘future proofed’, as this solution provides the ability to issue and manage multiple applications such as benefits payments, public transport ticketing and other specialized prepaid card products.
Aconite is a leading provider of software and consulting services for managing business applications on chips in smart cards, tokens and mobile phones. Paymobile is a Canadian technology company providing businesses and government with complete program management services for a wide range of open loop prepaid and virtual card accounts.
Paymobile’s use of Aconite’s Prepaid Value Manager provides world-class EMV open loop prepaid card issuance program management services to Paymobile issuer clients. Aconite Prepaid Value Manager supports the issuance, available balance and shadow/sub account management of an overall, EMV based prepaid / pre-authorized processing environment. Aconite Prepaid Value Manager supports smart prepaid products that can be used with both online and/or offline terminals; in contact and/or contactless mode, and closed or open-loop schemes.
Mike Vasalenak, Aconite’s Regional Director for Canada, said “We are very excited to be working with Paymobile in the Canadian market as our two companies can together offer unique capabilities in smart prepaid services to Canadian issuers. This partnership also reinforces Aconite’s commitment to the Canadian market” added Patrick Regester, Aconite’s EVP Sales and Marketing.
President and CEO of Paymobile, Gino Porco, commented, “EMV is a progression which we believe will soon totally replace magnetic stripe cards. We are excited about the opportunity to partner with Aconite, which will provide us a meaningful advantage in delivering value and security to our existing and future clients in the prepaid space. Aconite’s expertise coupled with Paymobile’s card management systems and mobile technology will catapult us beyond what’s currently available in today’s marketplace and for years to come”.
Paymobile’s (www.paymobile.com) program management services provide complete turnkey solutions starting with program concept, card design, card submission approval, client portal design and development, administration management, reporting and live customer service support. Paymobile also provides advanced mobile technology enabling businesses to provide their customers a white label mobile client application with the ability to manage their card balances, transfer funds from their bank accounts by way of Interac and perform card to card funds transfers in real time using their mobile devices.
Aconite (www.aconite.net) brings to its clients proven and global experience in helping card issuers, processors, retailers, payments service providers and transit authorities minimize their EMV migration risks and maximize the return on their EMV investment. Aconite solutions leverage global lessons in helping clients migrate to EMV, reduce EMV deployment costs and future-proof EMV deployments on smart devices. Aconite operates in Europe, Middle East, Africa, Asia and the Americas.
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