Toppan Gravity becomes part of the White Label Alliance (WLA) Payment Standard to provide customers with high-quality contactless payment products and services
Dubai, April 2022 – 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 the closed-loop prepaid cards segment garnering a significant share during the forecast period*1, 2.
To be more competitive in today’s payment ecosystem, Toppan Gravity decided to be part of the White Label Alliance (WLA) payment standard. 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, Michael Hraschan, Director of Product Management Payment said: “Our 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, the WLA payment standard delivers security and interoperability wherever payments are made.”
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.
About White Label Alliance
Headquartered in Munich, the White Label Alliance (WLA) is a member-driven organization committed to extensive adoption of independent payment solutions for smart card and digital firms based on WLA payment standards that enable ready-to-deploy and interoperable payment solutions. WLA specifications will let domestic payment networks, closed-loop retailers, and other private-label brands deploy a truly independent solution based on proven technology, with fast time-to-market.
For more information, visit https://wla-payment.org/
About TOPPAN Gravity
As a global solutions provider primarily focused on the payment and Identity industries, Toppan Gravity aims at developing the next generation of virtual and physical security documents.
With the vision of becoming the forerunner in the secure ID and payment industry, the company focuses on driving synergies within the Toppan Group, through strategic acquisitions. Toppan Gravity empowers promising companies’ having state-of-the-art technology or businesses in emerging markets, including Asia, Africa, and Latin America to enhance their overall performance. Furthermore, the company enables its acquisitions to take advantage of the opportunities presented by its large, diversified group having numerous resources and extensive know-how.
About TOPPAN iDGate
Toppan iDGate, acquired by Toppan in 2020, was co-founded by a group of tech entrepreneurs with a vision for improving what they saw as a sore spot in the market for identity verification solutions. In a world where we tend to oppose security to user friendliness, Toppan iDGate is striving to offer highly secure but also highly convenient authentication solutions, for digital transformation and online banking services. With our combined years of experience developing data security for the finance industry and proven track-record raising successful businesses, the company understands the fine balance between what banks need and what their customers want.