Contis Group, the multifaceted payments company that offers prepaid and internet bank account software solutions and program management to major global brands, has acquired the business and assets of G-T-P Group Ltd, the leading provider of Account Card and Gift Card solutions to major UK travel and business groups.

This acquisition allows Contis to provide a full range of payment technologies and solutions to its global clients, the group product offerings now include:

• EMV- Prepaid card solutions and processing
• Gift Cards Closed and Open Loop
• Business account card processing and management
• Licensing of its technology to major processor and financial institutions
• Internet banking technology
• Bespoke financial transaction technology and related billing and settlement solutions

The newly acquired business of GTP will trade as GTP Solutions Ltd and the management will be headed by Peter Cox, the Contis Group Chariman and CEO, with all operations controlled by Mike Fromant, Contis Group General Manager. Mike has come from TSYS and previously had worked at Experian and Barclaycard.

Peter Cox, Contis Group Chairman said of the acquisition:

“This deal is one of a number we have been looking at, to allow our group to expand our overall business offering to the high profile clients we have around the globe. GTP has an excellent set of solutions for the business Account and Gift Card markets, which we will merge into our existing capabilities and thus service a larger proportion of our clients financial card needs in addition GTP has spent considerable funds on building its E-Money capability, which we will assume, post FSA and other approvals. We see this multi million sterling turnover business as assisting us in our ambitions to become the leading global provider of financial card solutions to Banks and Retailers."