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TheStreet Open House

FIS Sees Strong Adoption Of Prepaid Solutions As Demand Continues For Cost-effective Payment Options For Consumers

Stock quotes in this article: FIS

FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that it experienced continuing market demand for its prepaid solutions in the first half of 2012 as financial institutions, retailers and other market sectors expand the use of prepaid cards to deliver a convenient and cost-effective payment option to consumers. This growth is represented by more than 80 new or expanded client agreements across the globe.

FIS’ strategic focus is to be on the forefront of real-time global money movement and be the leading provider of real-time banking and payment solutions. FIS delivers global connectivity and empowers both financial institutions and non-financial institutions to drive new sources of revenue and profit from emerging payment opportunities.

A world leader in the prepaid industry, FIS processes more than 200 million prepaid cards and provides robust, end-to-end solutions for the development, processing and administration of prepaid programs. These solutions encompass all aspects of prepaid card processing – account set up and management, card production and personalization, inventory management and customized distribution solutions, transaction processing, fraud detection and prevention, funds settlement, call center and IVR/VRU customer service, dispute processing, detailed reporting and mobile and Web hosting services.

"By operating a flexible and scalable processing platform and then integrating that platform to the breadth of services FIS has been deploying to clients for years, FIS has established itself as a first-tier prepaid player in record time,” said Tim Sloane, director of Mercator Advisory Group’s Prepaid Advisory Service.

Kiboo, one of FIS’ newest prepaid clients, is redefining the relationship young people have with their money. By creating innovative technologies around FDIC-insured accounts, Kiboo’s offerings inspire and engage earning, saving, smarter spending and sharing. After an extensive search, Kiboo selected FIS’ prepaid solutions for its robust technology, depth of service offering and scalable platform.

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