Peoples Trust extends reach with SVM deal

Canadian prepaid card issuer Peoples Trust has expanded its issuing services to business gift card solution provider SVM LP.

After acquiring 1to1 Card, SVM can offer open-loop prepaid cards in Canada with Peoples Trust as primary issuer.

“The integration of 1to1 and SVM expands our breadth and depth of business-to-business payments products, services and expertise in the U.S. and Canada,” said 1to1 Card CEO and President Mark Tepper. “We’re pleased to expand our long-standing partnership with Peoples Trust’s robust issuing infrastructure to reach and enable national prepaid programs.”

“Canada is one of the fastest growing prepaid markets in the world, providing great opportunity for U.S. prepaid program providers like SVM to expand north of the border,” said Peter Read, President of Peoples Card Services, a subsidiary of Peoples Trust. “As a longtime partner to 1to1 Cards, we are pleased to support SVM through BIN sponsorship, regulatory expertise, and Canadian market guidance.”

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