NORTH YORKSHIRE, England - Link Interchange Network Ltd. has acquired a 17-percent stake in London-based prepaid-card company Prepay Technologies Ltd.
Terms of the investment were not disclosed.
According to a news release, Prepay Technologies' technical platform and support will be used to create end-to-end card programs, which will be marketed to financial institutions and local authorities.
"This is an exciting venture for Avantra, which further enhances our payments products portfolio," Avantra managing director Steve Smith said. "We chose to invest in Prepay Technologies because of its existing presence in the fast-growing prepaid-cards market, expertise, and track record of delivering programs to big brands such as Debenhams, Western Union, Arcadia, Laura Ashley and Comet."
