There are a variety of new products developing within the card payment industry such as payroll cards, benefits cards, teen and family cards as well as the newest trend, prepaid debit and credit cards. Prepayment cards are not your standard bank-issued debit cards. It offers consumers a way to keep track of their expense, prevent overdraft and more importantly only spend money that is on that card. This is where companies like 3Pea International comes in and can offer merchants a wide range of start-to-finish prepaid debit options that will make them a profitable player in this expanding market.
3PEA International, Inc. designs and develops payment solutions including proprietary payment terminals, secure key loading systems, prepaid card systems, and various payment services. The company is an experienced and trusted transaction-based solutions provider as well as an integrated prepaid card issuing processor that has over five million prepaid debit cards in its portfolio. Since 2001, 3PEA has provided online payment solutions with a specific focus in the area of PIN-Debit transactions. 3PEA offers clients a complete prepaid debit card solution that includes the systems to support their selected program, card personalization, call center support, voice response unit, and Internet access options.
The company continues to go, and recently acquired Wow Technologies, Inc. With the acquisition of Wow Technologies, 3PEA has integrated a PCI DSS (Payment Card Industry Data Security Standard) certified Prepaid Stored-Value MasterCard/ATM Card Issuer Processing Platform into it payment solutions.
PCI DSS was developed by the major credit card companies as a guideline to help organizations that process card payments prevent credit card fraud, hacking and various other security vulnerabilities and threats. A company processing, storing, or transmitting payment card data must be PCI DSS compliant or risk losing their ability to process credit card payments.
As a part of the acquisition, Omar Khandaker, Wow’s CISO, will join 3Pea as the New Technology Officer. Mr. Khandaker will be working alongside Mark Newcomer, President of 3Pea who stated, “We are delighted to have the benefit of Omar’s vast experience in IT, global software solutions, e-commerce, prepaid card expertise and business leadership. His successful track record in helping a wide variety of enterprises derive maximum value from their technology investments makes him an excellent fit for 3Pea and our customers.”
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