ATLANTA - Postilion, a division of S1 Corp., has signed a marketing deal with Central National Bank of Enid, an Oklahoma-based community financial institution, to offer prepaid card programs to other community FIs.
"We have spent years searching for the best partners and have navigated the legislative landscape so we could offer prepaid cards to both our customers as well as unbanked and underbanked individuals," said Brud Baker, president of CNB. "Now with Postilion, an exceptional partner in providing card management solutions, we are taking it to the next level, and offering other financial institutions our knowledge and understanding to help them deliver their own bank-branded prepaid card solutions."
CNB offers FDIC-insured prepaid card products, along with card issuing and processing. The card programs are geared toward the country's 84 million underbanked and underserved, CNB says. CNB's prepaid programs include a remittance product pilot program with a large retailer - a program that has expanded to include more than 300 of the retailer's stores.
"Postilion can support new business opportunities for community financial institutions in self-service banking and payments that, in the past, may have been too resource-intensive to pursue," said Baron Unbehagen, vice president of marketing and alliances for Postilion Americas.
Postilion provides a range of card management services and is fully EMV capable, in terms of card production, management and authorization capabilities. It also works to help FIs and other organizations comply with the Payment Card Industry Data Security Standard.
