Peoples Trust and SVM partnership expands open-loop prepaid card programs across Canada
VANCOUVER, British Columbia, April 19, 2016 /PRNewswire/ -- 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.
For more information on prepaid and credit card issuing services in Canada, visit peoplescardservices.com.
About Peoples Trust Company
Peoples Trust is a federally chartered financial institution that has been providing financial services to Canadians for over 30 years. For more than a decade, Peoples has been providing comprehensive issuing services for prepaid and credit cards through its subsidiary Peoples Card Services. Their regulatory expertise and market guidance have helped card program managers from around the world establish, launch and grow card programs in Canada. Peoples has issued more than 30 million cards in more than 750 programs across Canada, totaling more than $1.2 billion loads last year. For more information, visit peoplescardservices.com.
Founded in 1997, SVM is a global leader in providing innovative gift card solutions for businesses. In March 2016, SVM acquired 1to1 Card and added their prepaid card management solutions to SVM's product offering. SVM is the only company that offers gasoline gift cards from every major oil company in America, as well as over 350 of the most popular retail stores, restaurants, service companies and hotels, and now prepaid promotional and reward cards. SVM's products are used by leading incentive, rewards, loyalty and other companies to incent and reward their customers, employees, and prospects. For more information visit www.svmcards.com.
Peoples Card Services
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SOURCE Peoples Trust