My above post doesn't really explain anything and almost constitutes FUD in my eyes. More specifically:

TenX is a Third Party Agent with Visa.

This means they do NOT have direct access to the Visa Network and so can only do limited things.

They can not issue cards themselves but can do the following whilst working with and issuer:

1. Process card applications for new cards on behalf of their Issuer.
2. Provide Customer service for their clients

3. Sell prepaid Cards on behalf of their issuer
4. Load prepaid Cards
5. Activate prepaid cards.

Looking at the above do you see why I do not think it is a big deal?

Being an issuer (requiring a banking licence ) would be far more exciting don't you think?