Member Article

Tuxedo drives international growth forward with ABnote

A North West based provider of payment technology and prepaid cards has announced a major new partnership with a global money services firm.

Tuxedo Money Solutions, of Chester, has taken the first step to international expansion with the partnership with ABnote, a global supplier of of secure documents and services.

Tuxedo plan to significantly expand their international presence, and ABnote - headquartered in Massachusetts, USA - will support them in international card production; utilising its global expertise and knowledge of country specific card formats and requirements.

Plans are to enter the Australian marketplace in the first instance, where ABnote has been supplying secure document services since 1837, and to expand within the year to the United States.

Tuxedo’s chief executive officer, John Sharman, said: “ABnote has a solid global reputation as the ‘best in class’ in the provision of international card production, including contactless technology, and secure document services, such as passports, driving licenses and stock certificates.

“With an emphasis on technological advancement, there is a strong commercial and strategic fit between the two companies, with Tuxedo at the frontline of technological change having invested heavily in the development of its market leading technology platform, the eccount.”

Developed in-house, Tuxedo’s award-winning eccount platform manages a full range of prepaid products and services across multiple form factors and allows the delivery of flexible and innovative payment solutions.

Steven Singer, chairman of the board and chief executive officer of ABnote comments: “We are delighted to announce the affiliation with Tuxedo and look forward to utilising our experience and expertise to support it in its strategic global growth.

“Tuxedo’s proven payment technology solutions, combined with our global presence and 219 years of experience positions both companies to successfully deliver robust end-to-end solutions for payment technology.”

Founded in 2006, Tuxedo launched its first prepaid product in 2007 and following strategic investment in educating audiences of the advantages of prepaid solutions, it has gone on to build a client portfolio of more than 800 corporations and agencies.

From general spend and travel prepaid cards for consumer-focused brands to payroll cards and business payment solutions, Tuxedo’s offering includes fully branded cards, websites and mobile apps, virtual cards, alternative online banking, mobile P2P payment, PoS integration and cashback clubs.

This was posted in Bdaily's Members' News section by Graham Vincent .