Rev Worldwide partners with Chinese company

Jan 27, 2014
Austin Business Journal

- Payments processor Rêv Worldwide Inc. is teaming with a Chinese company to market prepaid debit cards in China

- Austin-based Rêv Worldwide disclosed Monday it reached an agreement with UnionPay International to act as the registered non-bank third party service provider. UnionPay operates one of the largest payment card brands in the world, with more than 3.5 billion bank cards issued, mostly in China, according to a Rêv Worldwide news release

- The deal marks an important step in Rêv Worldwide's goal of developing a global prepaid platform, CEO John Mitchell said in the statement

- Rêv Worldwide, founded in 2008 by NetSpend Corp. (Nasdaq: NTSP), develops prepaid card and mobile payments programs. The company, which employs 100 workers, operates in North America, Latin America, Europe and Asia-Pacific, and is affiliated with MPower Ventures LP

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