Toppan Gravity, a Toppan Company, and UAE-based global secure solutions provider, becomes member of the White Label Alliance (WLA), a robust member-driven organization that promotes independent payment solutions designed for domestic and private-label use, to provide its customers with high-quality contactless payment products and services.
With the continuous trend of moving transactions to contactless payments and increased use of digital platforms, the demand for closed-loop payment schemes is rising accordingly. Though often started as pure digital solutions, the need for physical payment solutions is growing in a later, more mature stage. Looking at the prepaid card market, in 2020 it was estimated at US$1.6 trillion, and it is projected to reach US$2.7 trillion by 2026 with theย closed-loop prepaid cards segment garnering a significant shareย during the forecast period*1,2.
To be more competitive in todayโs payment ecosystem, Toppan Gravity decided to be part of the White Label Alliance (WLA) payment standard.ย WLA is a comprehensive and open set of standards that ensures interoperable payment solutions focused on local payment schemes. Backed by a strong industry consortium, WLA has the potential to solve key issues by enabling local payment schemes.
Commenting on the membership agreement,ย Michael Hraschan, Director of Product Management Paymentย said: โOur customers deserve high-secure and qualitatively advanced payment products and services, and we believe that WLA-based solutions can support us in achieving this. Designed to build on EMV standards, theย WLA payment standard delivers security and interoperabilityย wherever payments are made.โ
By providing solutions following the WLA specifications, Toppan Gravity aims to provide its customers with high-quality payment products and services based on proven and certified technology. The robust and flexible standard allows the deployment of contactless payments to meet consumers’ needs and enhance the in-store checkout experience.
Press Release Received on Mail
