WildCard Systems and Visa International Sign Global Strategic Alliance

Thursday 17 January 2002 09:26 CET | News

WildCard Systems, have announced it has entered into a three-year global strategic alliance with Visa International. This alliance facilitates additional product development opportunities for Visa International utilizing WildCard Systems expertise in electronic host-based stored value cards, virtual stored value accounts, Internet payment systems and Web-based applications for the mutual benefit of Visa and Visa member banks.

Under the alliance, Visa and WildCard Systems will explore opportunities to work together to develop and deploy applications and programs to enhance and extend Visas consumer product offerings. Using WildCards technology and systems, this may include development and deployment of Visa pre-paid cards, including those designed to serve the teen market, gift cards, affiliate program payment cards, identification cards, automobile insurance cards, payroll cards, fuel cards, shopping mall cards, and other special purpose and incentive-based cards. Examples of areas in which WildCards technology may be used include: Enabling pre-paid accounts to be set up, including value loading, card issuance and reporting for Visa and Visa members through a variety of channels, including web-based applications. Extending access to Visa-branded cards, based on WildCards stored value technology, to individuals who do not have access to traditional banking or credit card services. Building additional functionality into Visa product platforms. Enabling pre-paid capabilities within devices that are nontraditional credit/debit card structures, i.e. Personal Digital Assistants (PDAs), mobile phones, etc. The three-year alliance also allows for exploration of ideas for introducing new electronic commerce, mobile commerce and payment technologies to the marketplace; exploration of opportunities to work together on marketing, promotion and/or sponsorship programs; and exploration of ways to bring WildCard Systems technology, products and systems to an international audience. WildCard Systems is the technology leader in complex stored-value financial transaction processing, web-based applications and custom software development. In the relationship it has with its bank customers, WildCard Systems serves as the issuing processor, hosts the Internet applications, and provides online, real-time authorization, as well as all settlement functions, can coordinate card production/fulfillment activities and can handle all customer servicing.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce