LONDON — Metavante Technologies Ltd. has signed a deal with Advanced Payment Solutions to make Metavante the payment-processing house for APS's entire prepaid portfolio, which includes APS's cashplus prepaid gold MasterCard, the Gap Year cashplus card and a range of other prepaid MasterCard programs.
APS provides general-purpose prepaid cards and payment solutions in the United Kingdom and throughout Europe.
In January 2008, Metavante announced the acquisition of London-based Nomad Payments Ltd., which now operates under Metavante but continues providing prepaid and debit-card processing as well as licensed software. According to a news release, APS is now directing all new business to Metavante and is in the process of transitioning its core portfolio. The transition is expected to be completed this month and will represent the largest prepaid-card-portfolio migration in Europe — including more than 200,000 customers.
