TUXEDO DRIVES INTERNATIONAL GROWTH FORWARD WITH ABNOTE

Melbourne, 30 January 2014 Tuxedo, its sights set on international expansion, has partnered with ABnote, a leading global supplier of secure documents, services and solutions, to help facilitate operations abroad and secure its share of the global marketplace.

ABnote will support Tuxedo in the area of international card production; utilising its global expertise and knowledge of country specific card formats and requirements. Plans are to enter the Australian marketplace in the first instance, where ABnote has been supplying secure document services since 1837, and to expand within the year to the United States.  

Comments Tuxedo’s Chief Executive Officer, John Sharman,  “ABnote has a solid global reputation as the ‘best in class’ in the provision of international card production, including contactless technology, and secure document services, such as passports, driving licenses and stock certificates. With an emphasis on technological advancement, there is a strong commercial and strategic fit between the two companies, with Tuxedo at the frontline of technological change having invested heavily in the development of its market leading technology platform, the eccount.”

Developed in-house, Tuxedo’s award-winning eccount platform manages a full range of prepaid products and services across multiple form factors and allows the delivery of flexible and innovative payment solutions.

Tuxedo’s international growth plans are ambitious, with targets to open an office in Australia at the end of the first quarter, followed shortly after with an office in the USA. Whilst the expansion is initially on the back of a global agreement with an existing client, the strategy it to use this as a platform for wider growth into the Australian and U.S. markets, and others beyond them. Tuxedo believes the partnership with ABnote will be instrumental in the success of its international strategy.  

Steven Singer, Chairman of the Board and Chief Executive Officer of ABnote comments: “We are delighted to announce the affiliation with Tuxedo and look forward to utilising our experience and expertise to support it in its strategic global growth. Tuxedo’s proven payment technology solutions, combined with our global presence and 219 years of experience positions both companies to successfully deliver robust end-to-end solutions for payment technology.”

About Tuxedo Money Solutions

Tuxedo is one of the UK’s leading prepaid service providers delivering innovative payment technology solutions for businesses operating in the UK and abroad.  Founded in 2006, Tuxedo launched its first prepaid product in 2007 and following strategic investment in educating audiences of the advantages of prepaid solutions, it has gone on to build a client portfolio of more than 800 corporations and agencies.

Tuxedo’s market leading eccount platform enables it to offer a comprehensive range of payment products and services, tailored to meet its clients’ requirements. From general spend and travel prepaid cards for consumer-focused brands to payroll cards and business payment solutions, Tuxedo’s offering includes fully branded cards, websites and mobile apps, virtual cards, alternative online banking, mobile P2P payment, PoS integration and cashback clubs.

To find out more about Tuxedo Money Solutions, visit http://www.tuxedomoneysolutions.com/

About ABnote

ABnote, with facilities in North America, Europe, Africa, and Australasia, is a premier and trusted provider of secure products and solutions. We provide solutions to global customers including financial, retail, government, and many other commercial markets. ABnote’s primary products include financial cards (Dual Interface, EMV, magnetic stripe), identification and credential cards (Drivers’ Licenses, National ID cards, Student ID), transit cards, hotel, facility and theme park  access cards and membership programs, retail plastic cards (gift, loyalty, RFID), barcodes and labels and secure documents (vital records, certificates, passports, and more); along with complimentarysecure services, including instant card issuance, NFC mobile payments, TSM, personalization, secure warehousing, distribution and fulfillment.