Payment services provider Worldline (EPA:WLN) has successfully completed the migration of Consorsbank’s Visa card portfolio from its existing legacy mainframe solution to its innovative customer-centric issue processing solution.
As a testament to the success of the relocation and hosting of Consorsbank’s Visa card portfolio, the issuing contract between Consorsbank and Worldline – based on a relationship dating back to 2007 – with several contract extensions, will continue to exist in the coming years.
This transition marks a major milestone for Consorsbank, a German brand of BNP Paribas, as it positions the bank to reap a wide range of benefits from the advanced issuance services it now has at its disposal. These services enable a seamless digital value chain in card-based transactions by connecting them to various digital banking services.
In addition, the move to Worldline’s issuance processing solution, which is operational from 2020, gives Consorsbank access to expanded European economies of scale. The solution ensures compliance with future market requirements and regulations and provides added value through the localization of a global platform. This localization provides end-to-end support, resulting in an optimized digital customer experience.
Rainer Hohenberger, Head of B2C at Consorsbank, said:
“We are pleased to share the news of the successful migration of our Visa card portfolio. This move, and the expansion of our relationship with Worldline, reinforces their central role as a key strategic partner and demonstrates our confidence in their capabilities and our commitment to providing ongoing support and innovative solutions.”
Tarlan Mammadov, Consorsbank project manager, added:
“The project teams worked together as equals, committed to a common goal. Professional collaboration and a strong team led to the effective implementation of the project and significantly influenced its success.”
Alessandro Baroni, Head of Worldline Financial Services, said:
“This milestone marks the testimony of Worldline’s extensive experience and innovative prowess, honed over many years of conducting complex customer relocations. Worldline remains committed to collaboratively empowering long-term and innovative partnerships, built on trust and deep-rooted industry acumen, with both our partners and customers.”