PFS are Proud to Announce the Launch of the First Instant Issue Prepaid MasterCard(R) Card in FranceBy Prepaid Financial Services Ltd, PRNE
Tuesday, March 15, 2011
LONDON, March 16, 2011 - Prepaid Financial Services Ltd (London) today announced the successful
launch of the PCS Prepaid MasterCard(R) with Creacard SA. The card is the
first MasterCard instant issue card in France. Whilst prepaid cards have
established themselves as the fastest growing payment mechanism in Europe,
France is a largely untapped market for products of this type.
The card is currently available for purchase in 5,000 retail outlets
throughout France and will be rolled out to a further 20,000 merchants in the
first quarter of 2011. The PCS card can be loaded with cash in store and also
using pre-printed vouchers in EUR20, EUR50 and EUR100 denominations.
Customers who wish to purchase the card do not need to complete any time
consuming documentation or undergo credit checks. They can simply pick up a
card in store, retrieve their PIN using a simple SMS command, load it with
cash at the counter and begin spending immediately , thereby providing
instant online spending capability to the large unbanked community in France.
Noel Moran, CEO of PFS explains, "We are delighted to be the first
prepaid programme manager to deliver a product of this kind to the French
market. The launch of this product is the culmination of an intensive period
of technical development in consultation with the various stakeholders. PFS
have created a custom built instant issue Prepaid platform which combines the
capacity to load cash in store, voucher top up, unique SMS functionality for
card management, real time back office reporting and inventory management. We
are particularly heartened by the overwhelmingly positive response to the
product from cardholders, media and retailers alike. "
The SMS functionality allows the cardholder to initially load and top-up
their card with funds, share money with family and friends who possess
additional cards, lock and unlock the card instantly and obtain their card
balance. These self-service functions are available any time, globally and
instantly, giving customers enhanced control over their funds.
Philip Aim, CEO of Creacard SA elaborates, "We are proud to launch the
PCS MasterCard in France, the first instant issue reloadable prepaid card of
its type. The product is a unique and low cost method of payment available to
everyone. The first few months show a real demand for the product in the
French market, and point to the ongoing success of the PCS Prepaid MasterCard
in the coming months and years.
Philip continues "The PCS MasterCard was primarily launched to target the
under-banked, however we have found that online shoppers, young people and
frequent travelers, have quickly become fans of this card. Finally, the
retail network, mostly tobacconists, was chosen for its scale, ubiquity and
renowned quality of service, helping our product reach the widest possible
The PCS card is issued by Transact Network Limited. Marc Van Laer of
Transact Network commented "The PCS card is genuinely the first branded
prepaid MasterCard card offered for general spend purposes to the French
consumer. Easy to find, easy to load and easy to use, the PCS card provides
an alternative payment method for online and in-store transactions. Transact
Network is excited to issue this card on behalf of Prepaid Financial Services
and Creacard SA. Prepaid Financial Services have a deep understanding of the
prepaid market and are willing, ready and able to provide and expand its
prepaid product offering to accommodate the needs of different groups."
About Prepaid Financial Services
PFS is a prepaid Program Manager, headquartered in London, delivering
prepaid card programs in many different geographic markets for banks,
processors and clients. Founded in 2007 PFS has launched programs for clients
including Foreign Currency cards, Money Remittance, Travel, Payroll,
Corporate expenses solutions, Commission payouts and Social and Benefit
Payments. The flexibility of the scalable PFS Middleware platform and its
ability to interface into multiple processors, third parties and vendors
allows the Company to be innovative and robust.
For more details on PFS you can visit
www.prepaidfinancialservices.com or contact us on +44-207-1250321.
About Transact Network
Transact Network Limited is an authorised and regulated MasterCard and
Visa Europe Principal Member providing European prepaid card issuing and e-
Transact Network issues Visa and MasterCard physical and virtual prepaid
cards. The Company's electronic money license has been successfully
passported into every EU and EEA member state enabling the issuance of
prepaid card programs across Europe.
Transact Network clients include regulated financial institutions,
financial services companies, marketing organizations, mobile phone
operators, retail chains, large and small corporate and governments.
MasterCard Worldwide is a driving force at the heart of commerce,
enabling global transaction and bringing insight into the payment process.
As a critical link among financial institutions and millions of
businesses, cardholders and merchants worldwide, MasterCard provides services
in more than 210 countries and territories. MasterCard advances commerce
worldwide by developing more secure, convenient and rewarding payment
solutions, processing billions of payments seamlessly across the globe, and
building economic connections that accelerate business.
For further Information;
The PCS Prepaid MasterCard(R) can be ordered online from
For further Information; info at prepaidfinancialservices.com, +44-207-125 0321
Tags: France, London, March 16, Prepaid Financial Services Ltd, United Kingdom