New payment system

Park Group wanted an entirely new payment system, all of their own, in order to differentiate themselves in the savings and corporate rewards market. Our past record in financial transactions proved invaluable as we conceived, designed, developed and tested the new flexecash® system.

The challenge

Park Group wanted to shake up the Christmas savings and corporate rewards markets with their own branded payment system. Park Group are the UK’s leading high street gift voucher provider, so while they wanted to offer customers a pre-paid magnetic card, they were less keen on losing margin to third party payment institutions. Instead, Park Group had plans for a new, independent payment processing platform.

The solution

With our rich history of designing, developing and testing software that handles financial transactions, we were a natural choice as Park Group’s IT partners. We helped conceive, design and build their new flexecash® platform, which was carefully tailored to support their business goals and complement their existing business processes. Taking 1 year to go from conception to launch, flexecash® went live in 2010 with the initial participation of 13 high street retailers and now has 24.

The result

Park Group’s new flexecash® platform supports all business processes concerned with the issuing of pre-paid cards and the acquiring and settlement of card transactions, and interfaces seamlessly with Park Group’s back office processes and systems. Retailers can connect to the flexecash® authorisation host with a minimum of effort and using their existing network infrastructure.

With the new flexecash® platform, Park Group have achieved their aim to establish themselves as a provider of card-based financial services and are looking to expand into new markets and products using the flexible data model and architecture of flexecash®. We continue to support the software and our client.