2023 was a year in which Pismo broke records for successful migrations, moving hundreds of thousands of accounts safely and securely without so much a blip along the way.
In February, we wrote about one client operating in the prepaid card space. It worked with Pismo to move just over 800,000 accounts, which included half a million active and revenue-generating customers.
The very next day, with the Pismo system live, it handled a peak volume of 18,000 transactions per minute with zero issues. The move was part of a month which saw more than a million accounts migrate with Pismo.
Just a month later, Pismo broke its record again! This time, we moved 1.5 million accounts in a calendar month.
One client, a banking-as-a-service (BaaS) provider in Brazil, migrated over 1,500,000 active accounts in March. The second, a provider of gift cards and related prepaid services, migrated 175,000 accounts operating more than 210,000 cards.
Pismo’s migration and implementation expertise ensured a safe and smooth deployment for both clients.
2023’s numbers
As the year draws to a close, we decided to look at the numbers to see how many accounts have moved to Pismo in the past 12 months and how many are successfully running on our next-generation platform.
Pismo migrated 3.5 million accounts in 2023 and added almost 2 million accounts to our platform every month. From December 2022 to November 2023, Pismo processed 3.7 billion transactions.
On the card issuing side, we’ve activated 17.5 million cards since the start of the year, breaking our record from 2022. That’s enough to give everyone in Switzerland two brand-new cards. March 2023 was our most active month for issuance, with more than 3 million cards activated.
2023 also saw Pismo sign several new clients to our next-generation platform, including Citi TTS, Grow, @Pay and 42CS. Expect these projects to impact our totals even further in the coming years.
