LONDON - BancTec Ltd., a global provider of advanced, high-volume, document and payment processing services and solutions, today announced that it has signed a five-year agreement with Payment Card Technologies (PCT) in which it will deliver IT outsourcing and call center services to support PCT’s fast-growing prepaid card business. PCT integrates banking services and technical infrastructure to provide one of the most robust, reloadable prepaid card systems for businesses around the world, including talkSPORT, Cash Generator and International Bank of Ghana.
Within the agreement, BancTec will support back office process work for PCT, enabling PCT to expand internationally and build upon its leadership position in the movement from paper check processing to electronic card transactions. The outsourced IT services BancTec will provide for PCT include web hosting, software support and application development for both existing and new customers. In addition, BancTec will manage PCT’s call center, which provides end-user support and resolves general account holder inquiries.
“The demand for specialized prepaid cards is expanding rapidly in the UK and throughout Europe,” said Frank Lambe, Executive Chairman, PCT. “BancTec’s services will support us as we grow to meet this demand, primarily by allowing us to focus on our customers and products, not back office operations.”
“We look forward to working with PCT to help grow its business and expand its service offering,” said Steve Downey, General Manager, BancTec Ltd. “With the flexibility provided by our network of IT service and call center facilities, PCT will be able to rapidly fulfil new customer requirements in the ever-expanding prepaid card market.”
PSE Consulting estimates that there are currently 2.3 million prepaid cards in the UK. By 2010, the market is expected to grow to more than 70 million cards. Also by 2010, prepaid card market turnover in EMEA will reach approximately euro 75Bn.
About Payment Card Technologies
The Payment Card Technologies team brings together many years of experience in the financial services and prepaid card industries. We have the depth of experience necessary to deliver effective and innovative solutions in a fast moving, dynamic and global industry. Retailers, online merchants, large and small corporations are all benefitting from our customised and flexible prepaid card solutions.
Originally founded in the North of England, we operate out of London and Chester, UK and provide services to businesses around the world. Through special relationships with our strategic partners incorporating banking and technical infrastructure, PCT provide one of the most robust reloadable prepaid card systems available in the market today. Exceptional technology, speed-to-market, superior service and continuous innovation is core to our operation.
About BancTec
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec’s offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts are “forward-looking statements” describing BancTec’s objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in the Company’s Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
Source: BancTec Ltd.
James Silcock of BancTec Ltd., +44-01753-778750, james.silcock at banctec.co.uk
Related Press Releases
BancTec Signs Distribution Agreement with eDoc Solutions CorporationSeptember 30th, 2009 LONDON -
- Relationship extends BancTec's reach into Saudi Arabia and other Gulf Cooperation Council (GCC) countries
BancTec, Inc., a global provider of advanced, high-volume, document, content and payment processing solutions and services, has signed a distribution agreement with Dubai-based eDoc Solutions Corporation to sell BancTec solutions in Saudi Arabia and other GCC countries. The agreement covers the distribution of BancTec's highly acclaimed IntelliScan(R) and E-Series high-speed document scanning and sorting transports and software solutions.
Deutsche Card Services Expands Domestic Services for POS Card Payment SolutionsSeptember 21st, 2009 COLOGNE, Germany - Deutsche Card Services today announced that it is expanding its stationary point-of-sale (POS) card payment solutions. In addition to the existing service of credit card acceptance in stationary POS business, the subsidiary of Deutsche Bank, will, with immediate effect, directly offer payment terminals and the national card payment methods girocard, direct debit and GeldKarte in the German market.
PhoneAndPhone.com Selects BancTec for Business Process Outsourcing SolutionSeptember 14th, 2009 DALLAS -
- BancTec to handle all document processing for the market leader in Internet mobile telephone services in France
BancTec, a global provider of advanced, high-volume, document and payment processing solutions and services, recently signed a major business process outsourcing (BPO) agreement with the market leader in Internet mobile telephone services in France, PhoneAndPhone.com. Under the three-year contract, BancTec France will process hundreds of orders per day for PhoneAndPhone.com-from receipt to account initiation contracts with various operators in the market-as well as manage its incoming customer mail.
BancTec and Apptricity Create Service and Distribution PartnershipSeptember 7th, 2009 DALLAS -
BancTec, a global provider of advanced, high-volume, document and payment processing solutions and services, announced today that it has signed a joint service and distribution agreement with Apptricity, a fast-growing provider of enterprise service-oriented architecture (SOA) software solutions for supply chain, workforce and financial management. Under the agreement, BancTec will provide Apptricity and their customers with advanced enterprise transaction management, process transformational consulting, and leveraged multi-document processing from its network of 9 operating sites in the U.S., and potentially from its overseas operations.
TAAP Releases Card Payment Feature for Mobile DevicesSeptember 1st, 2009 BOREHAMWOOD, England - TAAP has recently released its new card payment transaction feature for Windows Mobile devices. Called 'TAAP Transaction' the system allows card payments to be processed on devices without the need for magnetic-swipe card readers or chip and pin technology.
BancTec Announces Plans for an Initial Public OfferingAugust 24th, 2009 DALLAS -
BancTec, Inc., a global provider of advanced, high-volume, document and payment processing services and solutions, today announced that it plans to file a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of up to US$50 million of its common stock, subject to market conditions.
BancTec Solution Selected to Enhance Workflow Management for the 2010 CensusJuly 6th, 2009 DALLAS -
BancTec, Inc., a global provider of advanced, high-volume, document and payment processing solutions and services, today announced that the Lockheed Martin Census Business Practice team, a premier international provider of integrated census data collection, processing and analysis solutions, has selected BancTec's workflow management software as a component of its 2010 Census solution. "We have worked with Lockheed Martin on other census engagements, and are honored that our workflow management solution has been selected by them to assist in managing the massive 2010 Census project," said Michael D.
TNT Post Selects BancTec as Its New Partner for ScanpostApril 22nd, 2009 NIEUWEGEIN, Netherlands - TNT Post, the national postal operator for The Netherlands, has selected BancTec as its new partner for Scanpost, a recent initiative to meet the increasing demand for digital receipt of incoming mail. Customers of Scanpost will receive same day delivery of their incoming mail, which is rapidly scanned, digitally sorted and processed, and then delivered directly to the required department or business process.
Risk of Non-Payment in Online Retail Lower for Women Than for MenMarch 12th, 2009 COLOGNE, Germany - Pago Retail Report by Deutsche Card Services Gives European Online
Merchants Valuable Information on How to Avoid Non-Payment by Customers
In European online retailing, risks of non-payment are lower for women
than for men. This is indicated by a lower chargeback ratio, which describes
the share of credit card transactions which had to be charged back after the
cardholder's rejection.
BancTec Provides Online Check Archive and Retrieval for Allied Irish BanksMarch 10th, 2009 LONDON - BancTec Ltd., a global provider of advanced, high-volume, document and
payment processing services and solutions, has signed a three-year agreement
with Allied Irish Banks (AIB) to image-enable AIB's cheque clearing system
with an online archive and retrieval solution. The automated solution
replaces AIB's legacy microfilm system.
Related News
BancTec planning initial public offering of up to $50 million in stockAugust 25th, 2009 BancTec says readying $50 million IPODALLAS — BancTec Inc. said Monday it is planning an initial public offering of up to $50 million in common stock.
Tier Technologies increases size of buyback plan to $20 million from $15 millionSeptember 1st, 2009 Tier Technologies ups buyback plan to $20 millionRESTON, Va. — Payment processing company Tier Technologies Inc.
Summary Box: Indictment in major credit card heists still leaves holes in payment networksAugust 18th, 2009 Summary Box: Indictment of card hackerHACKER CHARGED: This week a man accused of some of the biggest credit card thefts on record was hit with more charges in other prominent cases. WHAT IT MEANS: The indictment illustrates how card numbers can be stolen by exploiting a flaw that still exists in some payment networks and other computer systems.
Charming Shoppes to sell private label credit card program to Alliance Data for about $110MAugust 13th, 2009 Charming to sell private label credit card programBENSALEM, Pa. — Apparel retailer Charming Shoppes Inc.
Create Rs.7,500-crore fund for meat and fish industry: AssochamJuly 22nd, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry (Assocham) wants the government to set up a Rs.7,500-crore ($1.5-billion) corpus fund for the meat and fish processing industry. The fund could be used to infuse new technologies and skills into the food processing sector in order to increase the production of meat, fish and poultry by 25 percent in two years, the chamber said in a statement Wednesday.
Online Merchants now easily accept the world's popular non-credit-cardMay 30th, 2009 MUMBAI - PayByCash(r), a subsidiary of PlaySpanT, today announced the availability of the PayByCash CodeT, the most accessible pre-paid product for consumers in 180 countries. PayByCash's revolutionary new product provides consumers with a streamlined way to make Internet purchases.
Chase introduces new Chase Sapphire credit card for top-earning customersAugust 19th, 2009 Chase introduces new card for wealthiest customersWILMINGTON, Del. — Chase Card Services, a unit of JPMorgan Chase & Co., said Wednesday it will now offer a rewards card designed for wealthy customers.
Separate policy for food processing sector on cardsJuly 31st, 2009 NEW DELHI - The government is planning to formulate a separate policy for the country's food processing industry and to scale up research and development (R&D) activities in the sector, Minister for Food Processing Industries Subodh Kant Sahai said here Friday. "The government is planning to call a meeting of state food processing ministers after the conclusion of the current parliament session to seek their views in formulating a separate food processing policy," Sahai said.
Cash payment to rural workers in Maoist-hit areasJune 26th, 2009 RAIPUR - Job card holders under the National Rural Employment Guarantee Scheme (NREGS) in three worst Maoist insurgency-hit areas in Chhattisgarh will be paid in cash rather than through banks and post offices, a government release said Friday. The statement stated that panchayats (village councils) and rural development department have issued a letter Friday announcing that only cash payments would be made to job card holders in three areas - Katekalyan and Kuakonda in Dantewada district and Orchha in Narayanpur district.
Sify Technologies signs up with Cisco to launch managed services in IndiaJuly 15th, 2009 CHENNAI - Sify Technologies Limited announced today the launch of Managed MPLS Service and Managed Internet Service as part of the Cisco Managed Services Channel Program (MSCP). This service is the first of a series of Managed Services that Sify Technologies plans to launch over the next two years.