Canadian prepaid card issuer Peoples Trust has expanded its card issuing services to SVM, a provider of gift card solutions for businesses.
SVM’s recent acquisition of US-based 1to1 Card will enable the firm to provide open-loop prepaid cards across the country in association with Peoples Trust as its premier card issuer.
Peoples Card Services, a unit of Peoples Trust, president Peter Read said: "Canada is one of the fastest growing prepaid markets in the world, providing great opportunity for US prepaid program providers like SVM to expand north of the border.
"As a longtime partner to 1to1 Cards, we are pleased to support SVM through BIN sponsorship, regulatory expertise, and Canadian market guidance."
1to1 Card CEO and president Mark Tepper said: "The integration of 1to1 and SVM expands our breadth and depth of business-to-business payments products, services and expertise in the US and Canada.
"We’re pleased to expand our long-standing partnership with Peoples Trust’s robust issuing infrastructure to reach and enable national prepaid programs."