Collaboration bridges physical and digital payment landscape to help prevent gift card fraud, connecting physical, mobile, and online use through contactless prepaid payment cards
CPI Card Group Inc. (NASDAQ:PMTS), a payments technology company providing a comprehensive range of payment cards and related digital solutions, today announced a strategic partnership with, and a minority equity investment in, Karta, an Australia-based prepaid program manager and payments technology firm. The partnership offers CPI clients an innovative solution for prepaid card security by integrating Karta's patent-pending SafeToBuy technology with CPI's U.S. prepaid solutions, driving a digital experience with a physical card.
SafeToBuy eliminates printed card numbers and details from gift card packaging with data and security embedded in an EMV chip, which helps mitigate the fraudulent draining of a prepaid card. By bringing this protection to prepaid programs, CPI advances its mission to reduce fraud and deliver a more secure, streamlined payment experience for customers and their cardholders.
The relationship positions CPI to extend the approach to debit and credit and help retailers, distributors, program managers, and financial institutions reduce fraud and connect physical cards with mobile and online use. The companies are adapting Karta's prepaid program management platform for a U.S. launch targeted for early 2026 and are currently piloting the program in the U.S.with a leading national retailer.