FIS said its card processing services have enabled Payango to extend its prepaid card offering to customers across Europe and introduce a programme management service for other prepaid schemes.

As per the deal, FIS will also provide risk management services including fraud monitoring and exceptions management, plus continuous active detection to ensure that any potential threats are immediately identified.

Payango CEO Volker Breuer said that their work with FIS will enable Payango to act as a programme manager and quickly bring new card programmes onboard. With the ability to offer their products to a pan-European customer base, these capabilities will provide them with many new opportunities to grow their business exponentially.