Contis Group, leading edge payments technology and prepaid card solutions provider to major global banking and retail brands, has announced that its Financial Services Division has been accepted as a Principal Member of Visa Europe.

Contis Financial Services is already maximising this newly-confirmed status to drive forward prepaid product opportunities across the UK and Europe.

Principal Visa membership will elevate Contis to the status of both direct card issuer and Visa compliant payment processor, cementing the group’s position as the only true end-to-end service provider in the prepaid card industry. And with a full e-money licence, passported throughout all 28 member states, alongside extensive back office and marketing capabilities, Contis provides clients with the benefit of a single, consistent point of service for the entire programme.

The first wave of Contis white label and own brand cards will be launched across its extensive client base imminently and the company will begin the provision of advanced operational and payment processing capabilities to other scheme operators.

Managing director Mike Fromant said: “We have always been confident that our sophisticated solutions will lead the way in the UK and Europe. Achieving principal Visa membership means we now own the ‘full train set’.

“The group has invested over £7million in just 3 years and we are now at the forefront of prepaid financial services provision. This latest step in our development demonstrates our commitment to customer needs and emphasises our position as one of the leading players in payment solutions.”