CaixaBank form prepaid JV with Global Payments

Newsdesk |

CaixaBank has linked up with Global Payments on a European prepaid card joint venture to be called MoneyToPay.

The latter will own 51% of the new brand, with CaixaBank Payments & Consumer taking the remaining 49%.

The MoneyToPay name has been used by CaixaBank for its prepaid business since 2012 in Spain, where it has almost two million cards and a sales volume of over EUR700 million.

Global Payments brings its experience in the US prepaid market through its NetSpend business to the venture. NetSpend president Kelley Knutson will be MoneyToPay’s chairman.

Having previously joined forces Having partnered back in 201o to build Comercia Global Payments, this seems to be a natural step for both parties.

In 2019 both CaixaBank and Global Payments, along with Ingenico, launched an international innovation programme with the aim to spot promising fintech startups.