Advanced Payment Solutions Moves Europe's Leading MasterCard-Branded Prepaid Portfolio...

Advanced Payment Solutions Moves Europe's Leading MasterCard-Branded Prepaid Portfolio to Metavante

LONDON--(Business Wire)--
Metavante Technologies Ltd. today announced an agreement with
Advanced Payment Solutions (APS), making it the payment processing
house for the entire prepaid portfolio of APS, including the
award-winning cashplus prepaid gold MasterCard, the Gap Year cashplus
card and a range of other fully re-loadable prepaid MasterCard
programmes. APS is a leading provider of general purpose prepaid cards
and payment solutions in the United Kingdom and the rest of Europe. In
January 2008, Metavante Technologies, Inc. (NYSE:MV), a leading
provider of banking and payments technology, announced the acquisition
of London-based Nomad Payments Ltd. Nomad now operates as Metavante
Technologies Ltd. and continues Nomad's legacy of being a leading
provider of prepaid and debit card processing and licensed software.

APS has already begun directing all of its new business to
Metavante Technologies Ltd., and is in the process of transitioning
its core portfolio during April. When complete, the portfolio
migration will represent the largest prepaid card portfolio migration
in Europe, with over 200,000 account customers transitioning to
Metavante Technologies Ltd.'s platform.

Representing a significant processing opportunity for Metavante
Technologies Ltd., APS' prepaid portfolio, led by its cashplus card,
has built a loyal following. Since cashplus launched in 2005 and
became the U.K.'s first general purpose MasterCard, cardholders have
loaded over GBP 200 million onto the cards. Mercator Advisory Group
research points towards a healthy European growth pipeline for prepaid
transaction processing. According to Mercator, prepaid payment card
spending in Europe is estimated to reach $164 billion (USD) by 2010.
As for the U.K. specifically, the same research forecasts total
prepaid spend will reach $34 billion (USD) by 2010, making the U.K.
Europe's largest market and the fourth largest market worldwide.(1)

"We did due diligence on some of the world's top processors, and
Metavante Technologies Ltd. clearly stood out -- not only with its
proven CORTEX platform and the technology to support prepaid card
applications, but with a team of seasoned payments professionals who
really understood the specific needs of a prepaid proposition," said
Rich Wagner, chief executive, Advanced Payment Solutions.

As part of the Metavante-APS arrangement, Metavante provides APS
with a range of services including: card issuing and account
management, transaction processing and authorisation prepay features
such as Web services, scheme gateways and compliance, as well as
reporting and management information. APS will also employ Metavante's
fraud and compliance monitoring system and its call centre
application.

Wagner continued, "Metavante Technologies Ltd. delivers the
compelling attribute of being more than just a processor -- it's also
a technology provider with core processing capabilities, plus
extensive prepaid processing experience in the advanced US market.
They have provided us with a reliable solution and flexible fee
structures that will enable APS to offer a greater range of 'pay as
you go' charging combinations and, therefore, a greater range of
future products to our clients. This is a vital factor in the prepaid
card business, which has tighter margins and more disparate cardholder
behaviour than other debit and credit portfolios."

"To gain the entirety of APS' market-leading prepaid portfolio is
a most notable achievement and vote of confidence in the role we can
play in our clients' success," said John Yeomans, president, Metavante
Technologies Ltd. "To put this transaction processing growth
opportunity further into perspective for Metavante, consider that
industry research predicts 10 percent of an estimated 3 million
un-banked U.K. consumers will use prepaid for daily money management
by 2010.(2) With the strong position APS already enjoys in the
European prepaid market, coupled with the powerful value proposition
of APS products like cashplus, this arrangement puts Metavante in an
enviable growth position. The stronger we can make our clients'
products, the better we can serve their cardholders, and we look
forward to helping APS bring new value-added functionality to their
customers."

Processing over 80 million ATM, credit, debit and prepaid cards
for clients worldwide, Metavante Payment Solutions offers prepaid card
personalization and account processing for both merchant-issued
(closed-loop) gift cards and network-branded (open-loop) prepaid
cards, such as payroll, government-benefit disbursement, shopping
mall, incentive, open-loop gift, rebate and loyalty/reward cards.
Metavante also supports prepaid-reload transaction processing.

About Advanced Payment Solutions

Advanced Payment Solutions was established in early 2004 to become
the pre-eminent leader of general purpose prepaid cards and payment
solutions in the United Kingdom and the rest of Europe. Its senior
management team and board of directors have unparalleled experience in
the prepaid and payment industries, bringing together experience from
Barclaycard, GE Money, VISA, Bank of America, Netspend, Western Union,
Diners Club and Citibank. The company, backed by leading US private
equity and venture capital firm Trident Capital, aims to lead U.K.
prepay market growth to emulate the success of prepaid payment cards
in the US where prepaid cards now make up a trillion dollar market.
APS' first prepaid payment card, the cashplus prepaid MasterCard,
launched in September 2005, is the U.K.'s first general purpose
prepaid chip and PIN payment card. Cardholders can top-up their
prepaid MasterCard card at over 20,000 outlets throughout the U.K.
Alongside developing its cashplus product portfolio, APS provides a
suite of services for businesses wanting to offer branded prepaid
products to their customers. APS' wholly-owned subsidiary, APS
Financial Ltd, is authorised by the FSA as an e-Money issuer and is a
Principal Member of MasterCard. Consumer website:
www.mycashplus.co.uk; Corporate website: www.apsgroup.com

Advanced Payment Solutions: Winner of Best Achievement in Customer
Service at The Card Awards, London, January 2008

Advanced Payment Solutions: Winner of Best Contact Centre Inbound
Campaign at the Connect Awards, London, October 2007

Advanced Payment Solutions: Winner of Best Prepaid Card Launch at
the Annual Cards and Payments Conference, Berlin, May 2007

Advanced Payment Solutions: Winner of Best Customer Servicing in
Europe at the MasterCard Prepaid Card Awards, Prague, May 2007

Advanced Payment Solutions: Winner of Most Innovative New Product
in Retail Banking in the United Kingdom, European Card Review, London,
November 2006

Advanced Payment Solutions: Winner of Most Promising New Product
in Retail Financial Services at the ifs/Capgemini Financial Innovation
Awards, London, November 2006

About Metavante

Metavante Technologies Ltd. is a leading European debit and
prepaid card payments processor that became a Metavante company on 10
January 2008. Metavante Technologies, Inc. (NYSE:MV) is the parent
company of Metavante Corporation. Metavante Corporation delivers
banking and payments technologies to over 8,000 financial services
firms and businesses worldwide. Metavante products and services drive
account processing for deposit, loan and trust systems, image-based
and conventional check processing, electronic funds transfer, consumer
healthcare payments, electronic presentment and payment, business
transformation services, and payment network solutions including the
NYCE Network, a leading ATM/PIN debit network. Metavante
(www.metavante.com) is headquartered in Milwaukee, Wisconsin, USA.

(1, 2) Mercator Advisory Group, "The Evolving Landscape of Prepaid
Cards in Latin America and Europe," March 2008, Elisa Athonvarangkul.

Metavante Technologies Limited is part of Metavante Corporation,
which is a subsidiary of Metavante Technologies, Inc.

All other trademarks are the property of their respective owners.

Metavante Corporation
Chip Swearngan
+1-414-357-3688
chip.swearngan@metavante.com
or
Sam Baumgarten
+1-404-892-2583
sam.baumgarten@metavante.com
or
Hume Brophy Communications
Claire Marnham
T: 00 44 207 499 8736, M: 00 44 7766186061
claire.marnham@humebrophy.com

Copyright Business Wire 2008