The Bancorp (headquartered in Wilmington, DE, with operations within Europe), is pleased to announce that it has agreed to a strategic partnership with MeaWallet to deliver open-loop mobile prepaid cards to The Bancorp card issuers in Europe. The partnership was officially announced in June at PayExpo, London, with the goal of launching the first commercial card program in Q4 of 2015.

Based in Sandvika, Norway, MeaWallet is a leading technology provider of mobile wallet platform and business components, enabling secure contactless and remote mobile payment services to banks and retailers. In addition to providing the cloud-based digitization platform supporting tokenization and wallet application services, MeaWallet is a center of excellence, with deep industry knowledge and experience within the fields of contactless payment, access, and cloud-based and mobile security.

Users just tap their smartphone at the
merchant NFC-enabled POS terminal to
complete the transaction.

This new partnership will provide existing and new customers of The Bancorp with the ability to add branded mobile wallets and cloud-based digital mobile prepaid cards to their portfolio of card products. The open-loop mobile prepaid cards will initially support MasterCard® and Visa® cloud-based mobile payment platforms. Users just tap their smartphone at the merchant NFC-enabled POS terminal to complete the transaction.

Kriya Patel (Director, Payment Solutions, Europe) of The Bancorp, commented, “This partnership means that our customers will have a faster route to mobile payments, using new innovative products such as customer-branded digital mobile prepaid cards and mobile wallets. We look forward to enabling many new and interesting mobile payment projects together with our customers in Europe.”

Lars Sandtorv, CEO of MeaWallet, added, “We are proud to partner with an innovative financial services provider like The Bancorp and we look forward to support them in the enabling of new, secure and attractive mobile financial services. As the growing prepaid market now goes mobile, this partnership is strategically important for MeaWallet, enabling us to offer our solutions to new customer segments.”

 For more information on MeaWallet: http://www.meawallet.com/

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