Wednesday, April 27th, 2016
Peoples Trust, the leading federally chartered prepaid card issuer in Canada, announced that it has expanded its issuing services to SVM, LP, a global leader in innovative gift card solutions for businesses. As a result of SVM’s recent acquisition of 1to1 Card, SVM can now offer open-loop prepaid cards in Canada, with Peoples Trust as their premier card issuer.
“The integration of 1to1 and SVM expands our breadth and depth of business-to-business payments products, services and expertise in the U.S. and Canada,” said 1to1 Card CEO and President Mark Tepper. “We’re pleased to expand our long-standing partnership with Peoples Trust’s robust issuing infrastructure to reach and enable national prepaid programs.”
“Canada is one of the fastest growing prepaid markets in the world, providing great opportunity for U.S. prepaid program providers like SVM to expand north of the border,” said Peter Read, President of Peoples Card Services, a subsidiary of Peoples Trust. “As a longtime partner to 1to1 Cards, we are pleased to support SVM through BIN sponsorship, regulatory expertise, and Canadian market guidance.”
As the leader in the prepaid issuing space, Peoples Trust continually assists new program managers acclimate to the Canadian market, navigate the regulatory environment, and understand how to capture growing market demand. Their extensive insight into the Canadian prepaid market enables program managers to accelerate their market entrance and success.