The end-to-end solution of GPS includes payment processing at its core, programme management tools, software development, financial control and reconciliation, technical support and cardholder customer services.
The company provides prepaid products across various sectors including open and closed loop gift cards, general spend, corporate spend, payroll, sub-prime/ debt management, teenage spending, business-to-consumer (B2C) ‘cash out’, and travel money/remittance.
The partnership will see the addition of W2 web-based online verification screening tools to the core GPS management platform, which will allow GPS and its customers to conduct Know your Customer (KYC), Anti Money Laundering (AML) and Fraud prevention due diligence.
GPS executive vice president of card services Suresh Vaghjiani said: "It is difficult to offer all the elements of the payments value-chain without losing focus of our key strengths as a leading issuer-processor, so the GPS strategy has always been to partner with service providers that offer the best of breed for their sector.
"By partnering with W2 all our clients have direct access to a myriad of global KYC providers via a simple API call to us without the need to integrate with any third party providers. We continue to enhance our offering by giving our clients unrivalled flexibility in the way they use our services, W2 has allowed us to do this in relation to a complete KYC solution."