Fintech launches international prepaid card

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    (From left) Simoun Ung, President and CEO of OmniPay, Inc.; Annie Zhang, Regional Managing Director, Discover Financial Services; Renato Valencia, Chairman, OmniPay Inc.; Umesh Ikhe, CEO – Care Risk Solutions; Hiroyuki Nakamura, Advisor, OmniPay Inc. and Subhrajit Basu, Regional Sr. Vice President, International Markets, Discover Financial Services.
    (From left) Simoun Ung, President and CEO of OmniPay, Inc.; Annie Zhang, Regional Managing Director, Discover Financial Services; Renato Valencia, Chairman, OmniPay Inc.; Umesh Ikhe, CEO – Care Risk Solutions; Hiroyuki Nakamura, Advisor, OmniPay Inc. and Subhrajit Basu, Regional Sr. Vice President, International Markets, Discover Financial Services.

    An almost limitless array of payment services is currently available in the market.  However, these cashless options differ in specific uses, and not all have the benefit of being backed by established global companies that have a proven track record in card services and support.

    OmniPay – one of Asia’s leading providers of breakthrough card programs and payment services – recently launched theOmniPay Diners Club Forex Prepaid Card, in partnership with Diners Club International Ltd., a payment services company owned by Discover Financial Services, and part of the Discover Global Network.

    TheOmniPay Diners Club Forex Prepaid Card is the solution for businesses who are looking to integrate travel-related benefits for their customers. It is a USD-based prepaid card with the capability of acting like a loyalty and rewards card, and is internationally accepted due to the Discover Global Network, which includes Discover Network, Diners Club International, PULSE and affiliated networks.

    It also comes with a mobile app, which allows the cardholder to gain access to payment functionalities such as real-time card-to-card transfer, QR Payments, balance inquiry and transaction history.

    The mobile app also allows locating ATMs in the vicinity, getting up-to-the-minute currency exchange rates, and even ascertaining local tipping etiquette across different countries.

    “Diners Club knows the importance of cardholders being able to use their card of choice when travelling abroad,”said Annie Zhang, Regional Managing Director – APAC of International Markets at Discover.

    “Tourists from the Philippines often travel to the United States and Canada, places where we can offer wide acceptance of their OmniPay Diners Club Forex Prepaid Card.”

    OmniPay Diners Club Forex Prepaid Cardholders are also entitled to Diners Club’slatest destination offersvia the Privilege platform.

    As expected, many of these privileges extend to other major locations across the world, covering a wide variety of dining, travel, and entertainment pursuits.

    “Due to its undeniable advantages, the OmniPay Diners Club Forex Prepaid Cardwill surely spark a lot of interest and demand from local consumers,” noted OmniPayPresident & CEO Simoun Ung.

    “Accordingly, this will certainlybe a valuable addition to the card businesses of banks, issuers, and acquirers. As always, we are here tohelp these companies gain market share through well-designed, attractive card offerings,”he concluded.

    Ung said that their partnership with Diners Club “is a unique setup.”

    “I think we’re probably maybe the third or fourth in the world. So the original one was in India. It’s called Rupay.  There it’s set up so that the Indian cards within India runs on the Rupay’s network.

    But outside of India, it run on Diners Club.  In the Philippines we will use Omnipay’s network. But outside the Philippines, it will turn on to Diners Club network,” Ung said.

    “Anywhere you see the Diners Club logo in Hong Kong or in Chicago or any other country, you can use the card.”

    Incorporated in 2009, OmniPay, Incorporated (formerly PVB Card Corporation) is a Bangko Sentral Ng Pilipinas-approved entity and regulated as a Non-Bank Financial Institution (NBFI).

    It is also a BSP-approved Electronic Money Issuer (EMI-NBFI) and a direct member of UnionPay International, JCB International and BancNet as Electronic Money Issuer Affiliate.

    OmniPay’s Board of Directors and Management has aggressively sourced ways to expand their client base while continuously providing the best services and product offerings to its existing partners.

    Recognizing the need for other growth and commercial opportunities to keep up in today’s competition, OmniPay continues to explore the opportunities of the card business

    Through the company’s innovative card programs and state-of-the-art technology of Bastion Payment Systems, OmniPay may now compete in the rapidly growing card payment industry that is sweeping the global arena as banks worldwide shift their focus from investment banking to unique programs offering.