Press Room

Founding Director leaving Transact Network

January 28, 2011

Transact Network, the European e-money issuer, BIN sponsor and prepaid card provider, announced today that Mr Tobias Schreyer has resigned as Commercial Director.

Mr. Schreyer has been with the company since its inception in 2006 and has been an integral figure in the company’s development since then helping to guide it through its successful application for an e-money license in 2007, becoming a MasterCard Principal Member and passporting its license throughout the EU and EEA in 2008, to becoming a Visa Europe Principal Member in 2010.
 
Colin Greaves, CEO at Transact Network said: “Tobias has made a pivotal contribution to the success of Transact Network and is recognized by the industry as a driving force in the European prepaid market. His influence has been enormous and we wish him the very best of luck for his future plans.”
 
Going forward, Mr Kriya Patel, Sales Director at Transact Network, will assume Mr Schreyer´s operational responsibilities.
 
For further information on Transact Network visit www.transactnetwork.com or contact Pete Burgess at corp_com@transactnetwork.com
 
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Notes to editors:
1.) About Transact Network Limited
Transact Network is a regulated and licensed MasterCard and Visa Europe Principal Member providing European BIN sponsorship and modular prepaid services. MasterCard and Visa Europe Principal Members are financial institutions that issue cards for use on the MasterCard and Visa Networks.
Transact Network issues Visa and MasterCard physical and virtual prepaid cards. The Company’s electronic money license has been successfully passported into every EU and EEA member state enabling the issuance of prepaid card programs across Europe. 
The company’s proprietary modular prepaid service platform is fully integrated with many leading processors including Carta, ecommlink, FIS, and M2 and can also integrate with client proprietary processing systems, enabling bespoke, scalable solutions,  rapid  implementation, low entry costs with earlier payback,   reliable ongoing management and proven risk reduction. Multi-lingual project teams are dedicated to service client prepaid card programs. 
Transact Network clients include regulated financial institutions, financial services companies, marketing organizations, mobile phone operators, retail chains, large and small corporates, and governments.

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