One year into the Correos Prepaid Mastercard program collaboration, Bnext positions Ouro brand portfolio for growth in Europe
Ouro, a global consumer financial services and technology innovator, and Bnext, a pioneering Spanish fintech, today announced a strategic partnership designating Bnext as Ouro's strategic issuer in Europe for Ouro's portfolio of consumer financial brands and products.
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Roy Sosa, co-founder and CEO of Ouro (Photo: Business Wire)
Ouro's innovative payments portfolio includes its flagship Netspend brand that pioneered prepaid debit for underserved U.S. consumers looking for better access to payment products, and X World Wallet, its cashback-earning multicurrency wallet and payments app for international travelers and digital nomads looking for more convenience and value for their money.
"The Bnext team has a proven track record of innovation and understanding of the customer needs of a growing European market for next generation payment products and services," said Ouro Co-founder and CEO Roy Sosa. "Their entrepreneurial spirit, combined with their technical capabilities and ability to deliver products across European markets make them a perfect partner for Ouro's ambitious goals," he added.
Together, Ouro and Bnext will roll out a range of products, programs and partnerships developed and processed by Ouro's multilingual and multi-currency payments processing platform, and issued by Bnext including prepaid, debit, digital wallets and other innovative products under development in Spain and across Europe. The partnership supports Ouro's strategic focus on innovation, growth, and expansion to global markets.
Bnext and Ouro began their collaboration last year with the launch and distribution of the Correos Prepaid Mastercard product across 2,389 Correos Spanish Post offices throughout Spain. Bnext holds an electronic money issuer license issued by the Bank of Spain and passports to the 27 member states in the EU and Norway. Bnext also holds a Principal Membership from Mastercard.
"Our Correos experience demonstrated Ouro's sincere commitment to put financial services within reach for everyone, and the speed and impact our joint innovations can make on markets we serve," said Guillermo Vicandi, co-founder of Bnext. "We're excited about what the future holds as we work with more partners to deliver even more value to more consumers."
Launched in March 2023, the Correos Prepaid Mastercard is a globally accepted, prepaid debit account customers can access with a card and mobile app to manage their finances, direct deposit salaries and government benefits, spend in stores and online, transfer funds, and open a Spanish bank account. They can also withdraw cash from ATMs and from Correos' network of offices throughout Spain.
About Ouro
Ouro is a global, vertically-integrated financial services and technology company dedicated to the delivery of innovative financial empowerment solutions to consumers worldwide. Ouro's financial products and services span prepaid, debit, cross-border payments, and loyalty solutions for consumers and enterprise partners. Since its founding in 1999 by industry pioneers Roy and Bertrand Sosa, Ouro products have processed almost a trillion dollars in transaction volume and served millions of customers worldwide. The company is headquartered in Austin, Texas with regional offices across the world. For more information, visit www.ouro.com.
About Bnext
Bnext is an electronic money entity registered with the Bank of Spain. Within two years of its founding in 2017, Bnext reached a record 500,000 users. Bnext's growing range of products and services includes financial services, loyalty and refund programs, as well as third-party financial services.
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Contacts:
Meredith DeSpain
mdespain@legendlabs.com
