Omnio Group Granted Issuer Status by Visa

12-Jun-2019

Omnio Group, a global fintech formed from the merger of Payment Cloud Technologies and Tuxedo Money Solutions, has been granted principal membership by Visa.

Through the Visa agreement, Omnio Group is able to offer its customers global access to all of Visa’s products including bank identification number (BIN) sponsorship across Europe for prepaid and debit programmes. This builds on Omnio’s existing expertise by enabling it to offer a full value chain to its customers. As well as being able to issue Visa branded cards, Omnio is incorporating Visa’s extensive product range into its award-winning payment & banking platforms.

This essentially optimises Omnio Group’s ability to manage the full project life cycle by having direct oversight of card issuance. What’s more, the membership will allow Omnio to further strengthen its customer offering by helping to increase the speed of implementation, reducing operational costs and enabling the delivery of global Fintech solutions.

This change in status is already helping Omnio further enhance the support it offers its customers, such as Monmouthshire Building Society. In partnership with Unisys, Omnio powers the organisation to take a lead in the building society sector by releasing a full digital current account. The online banking platform is delivered by Unisys’ omnichannel platform, Elevate, and Omnio plays an integral role in the ecosystem, supporting the platform’s account capabilities which now includes the streamlined Visa process.

Speaking about the newly appointed issuer status, Hugh Kingdon, head of fintech, UK & Ireland at Visa explained: “We are pleased to see Omnio Group going from strength to strength and now that they have full access to all of our products and expertise, we are excited to see how the business develops further. This is another good example of how Visa is supporting fintechs to navigate the payments landscape and achieve their growth ambitions, both at speed and scale.” 

Suzy Karger, CMO at Omnio, added: “We are excited to be growing our long-term relationship with Visa, strengthening further our position in the market as a Fintech leader. Becoming a Visa Issuer is a natural step in our partnership and we’re now able to offer our customers around the world even more flexible and reliable solutions.  Both Omnio and Visa are investing in the creation of new products and capabilities and by working together we can both accelerate the creation of new propositions and ensure we can deliver quickly and securely on a global basis.”