Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced that it has migrated BPP, a Brazilian prepaid card issuer, to the Compass Plus Processing Centre in just two months – its first processing customer in the Americas.
BPP, which manages a wide range of corporate and consumer prepaid programs – from multi-currency virtual and physical accounts to the more traditional vouchers and gift cards – wanted to have a more flexible and scalable system to aid its expansion into the Latin American market.
The prepaid card issuer selected the Compass Plus Processing Centre to manage the issuance and processing of its Visa prepaid portfolio due to the flexibility and short time to market its platform offers. The Compass Plus Processing Centre is built on its proprietary open development payments platform, TranzAxis, and the migration was completed quickly, with just two months between the agreement being signed and the first live transaction.
In the future, BPP plans to implement further TranzAxis features to support new products and expand its card offering in Brazil and throughout Latin America.
“Since the beginning of our partnership, Compass Plus has delivered high quality services, advice and customisation where needed,” said Mair Calvo, IT Director at BPP. “Their work has helped us develop Fênix – a brand new digital accounts, prepaid cards and payments platform designed to deliver high performance, safe and smart payments, with the best possible user experience.”
“We are delighted to provide processing services to BPP, which is making inroads in Latin America with its card products,” said Rafael Marinho, Associate VP & Business Development Director, Brazil at Compass Plus. “The bank is our first processing customer in the region, and we look forward to sharing success and working together to shape the processing landscape.”