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| Metavante Expands Payment Solutions Group |
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Metavante Corporation has expanded its Payment Solutions Group by creating two new divisions, including a new prepaid solutions unit. The company said these changes are designed to meet the needs of a transforming client base, emerging non-financial institution markets, and to boost the company?s international efforts. Metavante has created a new division, Issuing Solutions, which includes a new strategic business line, Metavante Prepaid Solutions, the culmination of the company?s acquisition of Valutec Card Solutions. John Focht, who recently joined Metavante from U.S. Bank, has been named president of the Issuing Solutions division. The new unit offers a broad suite of closed loop (merchant-branded) and open loop (network-branded) prepaid card solutions for expanding markets such as gift, payroll, reward, general-purpose reload, government-benefit and healthcare-benefit prepaid cards. Additional solutions include credit and debit card account processing, prepaid card account processing, call center services and card personalization. Metavante Acquiring Solutions, the second new division, will be headed by Bruce Hopkins, who has been promoted to division president. A key component of this division will be LINK2GOV, a Metavante company that enables Federal, state and local government payments, including Federal income tax payments. Merchant processing, ATM driving and acquiring, gateway products, biller-direct payments and payment fraud/risk monitoring round out the products and services within this division. Jeff Lewis has been named division president of Metavante ePayment Solutions. This existing division plays a key role in supporting Monitise Americas, the company?s recently announced joint mobile payments venture with Monitise plc, the leading European provider of secure mobile banking and payments capability. Monitise Americas operates a mobile payments system in the United States. Metavante ePayments Solutions also provides solutions for consumer bill payments, electronic bill presentment, convenience payments, ACH processing and call center services. Metavante Payment Solutions delivers electronic money movement through an integrated payments network, including an ATM/PIN-debit network in NYCE, mobile banking and payments delivered through NYCE, a check image exchange network in Endpoint Exchange, online bill pay, healthcare payment solutions, a suite of payment cards and automated clearing house (ACH) processing. |
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