{"id":32503,"date":"2012-08-16T11:59:00","date_gmt":"2012-08-16T11:59:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/the-bancorp-tbbk-and-transact-network-limited-to-expand-bancorps-payment-solutions-presence-into-europe\/32430\/"},"modified":"2012-08-16T11:59:00","modified_gmt":"2012-08-16T11:59:00","slug":"the-bancorp-tbbk-and-transact-network-limited-to-expand-bancorps-payment-solutions-presence-into-europe","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/the-bancorp-tbbk-and-transact-network-limited-to-expand-bancorps-payment-solutions-presence-into-europe\/32503\/","title":{"rendered":"The Bancorp (TBBK) and Transact Network Limited &#8211; To Expand Bancorp\u2019s Payment Solutions Presence into Europe"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><strong><a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=TBBK\">NASDAQ:TBBK<\/a>)<\/strong> and Transact Network jointly announced the expansion of Bancorp\u2019s payment solutions presence into Europe. Bancorp and Transact Network have entered into a definitive asset purchase agreement for the Bancorp to acquire the <a href=\"https:\/\/www.mycarddata.com\/\" target=\"_blank\" rel=\"noopener\">MyCardData\u2122<\/a> technology platform, <a href=\"https:\/\/www.easybuy.com\/\" target=\"_blank\" rel=\"noopener\">Easybuy\u00ae<\/a> website, agreed customer contracts and other principal assets from Transact Network.<\/p>\n<p>Frank Mastrangelo, President and COO of The Bancorp stated, \u201cThe acquisition of this platform from Transact Network, a well regarded Pan-European electronic money institution, will establish a European Payment Solutions presence for Bancorp and facilitate European expansion for many of Bancorp\u2019s existing \u201cPayment Solutions\u201d clients. It will also enable Bancorp to leverage its current BIN Sponsorship and Program Management Platforms for a wider set of European Payment solutions and offer enhanced products, flexibility, capability, and scalability. We will utilize our success and experience with our US payment solutions platform to grow our European presence.\u201d<\/p>\n<p>Kiran Sidhu, Executive Chairman and Founder of Transact Network Limited stated; \u201cI am thrilled by this acquisition. Transact Network has issued over 1 million prepaid cards since inception, evidencing its strong infrastructure, technology and seasoned management providing Bancorp with a strong European presence. This transaction will enable Transact Network\u2019s founding shareholders to realize their personal dream of establishing a European payment solutions\u2019 powerhouse headquartered in Gibraltar. I am grateful for the extraordinary commitment of our management, employees and partners over the past six years in building this solid foundation. \u201d<\/p>\n<p>Jeremy Kuiper, Managing Director of Bancorp Payment Solutions stated, \u201dIt is our mission to be the best <a href=\"http:\/\/www.knowfinance.com\/category\/banking\/\" target=\"_blank\" rel=\"noopener\">banking<\/a> option for those organizations that are committed to delivering alternative payment solutions and through this expansion we have the ability to support those we work with on an international level. We are becoming a global payments organization dedicated to changing how the world transacts.\u201c<br \/>\nThe transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US and Gibraltar and the approval of Transact Network stockholders. The transaction is expected to close by the end of the third quarter 2012.<\/p>\n<p><strong><strong>About The Bancorp. Inc.<\/strong><br \/>\n<\/strong>The Bancorp, Inc. is a financial holding company that operates The Bancorp Bank, an FDIC-insured commercial bank that delivers a full array of financial services both directly and through private-label affinity programs nationwide. Bancorp\u2019s Payment Solutions Group, division of The Bancorp Bank, is a leading issuer of network branded prepaid cards. Through long-standing relationships with card associations, industry leading networks and processors The Bancorp consistently delivers cutting-edge, innovative programs that are re-shaping the payments landscape.<\/p>\n<p><strong>About Transact Network Limited<\/strong><br \/>\nTransact Network is a MasterCard and Visa Europe Principal Member providing European wide BIN sponsorship and prepaid program management. Transact Network is a licensed and authorized e-money institution by the Gibraltar Financial Services Commission. The Company\u2019s proprietary prepaid card management platform, MyCardData\u2122, enables bespoke, scalable solutions, rapid implementation, low entry costs, and proven risk reduction. Transact Network is headquartered in Gibraltar with fully owned subsidiaries and offices in England, India and Bulgaria, as well as Scandinavian sales representation in Sweden<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120817131705\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fthe-bancorp-tbbk-and-transact-network-limited-to-expand-bancorps-payment-solutions-presence-into-europe%2F32503&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-held-steady-as-investors-wait-bolder-actions-from-ecb-after-merkels-support-silver-prices-lower\/32585\">\nGold Prices held Steady as Investors wait Bolder Actions from ECB after Merkel\u2019s Support\u2019 Silver Prices Lower<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stock-futures-mix-ahead-of-confidence-data\/32577\">\nU.S. Stock Futures Mix Ahead of Confidence Data<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/childrens-place-reports-q2-results-plce\/32571\">\nChildren\u2019s Place Reports Q2 Results (PLCE)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-on-merkels-comments-monetary-easing-hopes\/32570\">\nGold Prices Edge Higher on Merkel\u2019s Comments, Monetary Easing Hopes<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-all-three-major-indexes-finish-at-session-highs\/32531\">\nStocks End Higher; All Three Major Indexes Finish at Session Highs<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-on-monetary-easing-hopes-silver-prices-also-gain\/32530\">\nGold Prices Settle Higher on Monetary Easing Hopes; Silver Prices also Gain<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-headed-for-a-higher-finish-33\/32527\">\nStocks Headed for a Higher Finish<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20120817131705im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NASDAQ:TBBK) and Transact Network jointly announced the expansion of Bancorp\u2019s payment solutions presence into Europe. Bancorp and Transact Network have [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[3086],"class_list":["post-32503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-tbbk"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/32503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=32503"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/32503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=32503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=32503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=32503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}