On-Line Strategies launches managed services prepaid platform for program managers
August 07, 2008 (PRLEAP.COM) Technology NewsDallas based Online Strategies, Inc. ("OLS"), a leading provider of Online Transaction Processing (OLTP) solutions recently launched its latest contribution to the world of payment processing. OLS had released an OLS.Host product offering tailored to the prepaid program management market.
OLS.Host is a fully managed transaction processing platform which provides card program managers the ability to become their own processor without the burden of managing a payment switch. The new offering enables program managers to gain control over all aspects of transaction processing and product management with the support of field-proven outsourced technology platform backed by an experienced team of payment industry experts.
"OLS.Host fills a gap in the prepaid space" says Terry Richards, president of OLS. "Program Managers get involved in the business with high hopes of delivering meaningful card solutions to customers while creating a large portfolio of fee generating accounts. Unfortunately, they soon learn that working with large third party processors and service providers make it nearly impossible to control their company's destiny. We are simply putting program managers back in the driver's seat."
Program Management companies are non-bank entities contracted by card issuing financial institutions for the purpose of developing, marketing and selling special issuing programs. Unlike traditional sales agents, program managers are highly regulated and are subject to rules set forth by issuing banks, card associations and in some cases state and federal banking laws. Program Management companies are typically highly specialized organizations managed by banking or payment system industry veterans.
About On-Line Strategies, Inc.
On-Line Strategies, Inc., headquartered in Dallas, Texas, has supported Fortune 1000 organizations' payments processing needs since 1996. OLS has provided strategic and technical business process consulting, production support services for integration, monitoring, and decision support to medium and large enterprises in support of their mission-critical payment systems.
On-Line Strategies, Inc.
7920 Beltline Rd, Suite 540
Dallas, TX 75254