A new prepaid card system using multi-currency eWallet technology is the latest initiative between Valitor, the Iceland-based issuing and acquiring services provider, and Caxton FX, as part of a new agreement signed between the two companies for the UK market.
The eWallet, designed by Valitor, allows users to easily manage different currencies on their travels by providing a real-time overview of the total available balance and the status of each currency in the wallet– a user can have up to 15 different currencies in the wallet.
“Our own software solutions provide the grounds for Valitor’s competitiveness. It is extremely encouraging to see how well they compare with international developments in progressive technology. This ambitious joint venture with Caxton FX and MasterCard provides us with a new and interesting opportunity on the UK market, which is one of our main markets in Europe,”comments Vidar Thorkelsson, CEO of Valitor.
Additionally, the eWallet enables users to use the card even if they do not have the required amount in the relevant currency, provided that they have an equivalent amount in other currencies.
As part of the arrangement, Valitor will be issuing the cards through the company’s MasterCard licence. Valitor also manages the status of the eWallets and links them to the relevant card, as well as designing the software system on which all information processing and management is based.
Managing Director of Caxton FX, James Hickman, mentions regarding the agreement, “We attach great importance to providing Caxton’s clients with high-quality, secure and valuable services. In order to maintain our leading position in currency cards, we need to work with companies, such as Valitor, who share our ambition and vision in creating innovative, flexible and progressive solutions.”
To learn more about this agreement, visit www.valitor.com