Now in their 4th year, the Prepaid365 Awards continue to generate significant interest around the UK and the globe with an ever increasing number of entries from within the UK and abroad. The Prepaid365 Prepaid Awards continue to be one of the only, if not the only, awards where the results are determined solely by consumers in a majority of the categories and hence, the awards provide an excellent endorsement and genuine consumer appreciation for the efforts of prepaid card providers in launching and running these truly stellar programmes. The awards also highlight a few worthy runners ups in each category, shining the light on up and coming superstars within the prepaid industry.

Based on consumer and industry feedback, the Prepaid365 Awards team have maintained the award categories from 2011 with Awards due to be handed out in 22 different categories including 2 business categories for programme managers who have excelled in serving big business and small business.

Over the next 10 weeks, subject matter experts at Prepaid365 will work in conjunction with consumers to determine the winners across the 22 categories from votes gathered via online surveys and social media votes with the aim of researching, reviewing and collating consumer choices across prepaid cards and prepaid card providers across the UK and beyond.

Amit Sharma, CEO and Senior Consultant at Prepaid365 commented, “The response to the first 3 editions of the Prepaid365 Awards was truly exceptional. It is often seen with trade circles that it is quite easy to get providers excited about awards but the Prepaid365 Awards are truly unique as we have had enhanced consumer engagement with each edition of the awards and we expect the 4th edition to raise the bar even higher.

In fact, it is with this in mind that we have introduced an even more robust voting process this year and decided to engage providers and their existing consumer base to greater effect to make the awards even more representative of the people who really count – consumers!. I have previously stated that the awards seem to grow bigger each year and the entries fly in from further afar than before and we expect 2012 to be no different. Here’s to the biggest consumer prepaid awards night of 2012. I am extremely pleased to announce the call for entries for the fourth edition of the Prepaid365 Prepaid Awards in 2012”.

Divya Sharma, Marketing and PR Director at leading prepaid marketing consultancy Emotion Associates stated, “Prepaid365 is widely recognised as the leading prepaid card portal in the UK serving the needs of customers and the industry. 2011 was an exceptional year with the launch of the dedicated Prepaid365 Business listings which provide an excellent opportunity for prepaid stakeholders to interact with each other and find a business partner or supplier or client. Our independent care reviews are trusted by consumers and we work extremely hard to ensure that content is regularly updated and is current. In 2011, the social media competition that we ran alongside the Prepaid65 Awards was great fun and we are doing the same again but with even more jazz and pizazz than last year and consumers are going to be the big winners all through out. Leading Payment industry specialists recommended Prepaid365 as the “reference site and industry resource with prepaid” and we are well on our way to establishing the Prepaid365 Prepaid Card Awards as the consumers voice and consumer awards “free of commercial bias and an excellent opportunity for prepaid card providers to gauge and reference success against the one opinion that really counts – CONSUMERS”.

Previous winners at the Prepaid365 Prepaid Card Awards include industry leaders such as Virgin Money, Cashplus, Splash, Caxton FX, White Eagle, Neteller, O2 Money, TSYS, Payment Card Technologies, Secure Trust Bank, Think Banking, Prepaid Financial Services as well as newcomers such as Phones4u, Clearcash and Kalixa. As always, you need to be in it to WIN it!

Call for Entries for the 2012 Prepaid365 Prepaid Card Awards sponsored by Transact24- www.t24prepaid.com

Have you got a prepaid credit card programme that has been recently launched or has performed exceptionally well over the last 12 months? Have you submitted your entry into the Prepaid365 Prepaid Card Awards? Well, download the entry form and details below and submit your entry before the deadline on 22nd February, 2012.

• Word Format
• PDF Format

For further detail, please refer to the Prepaid365 Awards 2012 Call for Entries brochure here – Prepaid365 Awards 2012 Call forEntries Brochure .

Remember the entry deadline is 22.02.12 and the award winners will be announced on 31.05.12. No entries accepted beyond that deadline day. No really – we mean it this time!

If you have any questions about the 2012 Prepaid365 Prepaid Card Awards or would like to enquire about Sponsorship Options with the Prepaid365 Awards 2012, please email Amit Sharma at amit@prepaid365.com or call on +44(0)78347 26087

To avail this offer, simply visit the Kalixa Prepaid Card website and apply for a Kalixa card and the usual £4.95 card fee will be waived when making an initial load of £50. With thousands of new customers signing up each week, Kalixa is well established in the United Kingdom, Germany and Italy, and is on track to expand into Spain and the Netherlands within the next two months.

“We’re really pleased that Kalixa is becoming more and more popular every day,” says Suresh Vaghjiani, Head of Product Management at Kalixa’s issuing bank, Vincento Payment Solutions. “We’ve worked hard over the past three years to improve the features of the card, and we’ve spent a lot of time optimising our fees. The positive feedback we’re continually receiving proves we’re on the right track.”

Get your Kalixa card today – Visit the Kalixa Website.

Source: http://www.prepaid365.com/buzz/2012/02/free-kalixa-card-limited-time-only

“The area has always been serviced, but exceptional growth over the last few years highlighted the need for a dedicated branch to attend to the unique needs of our business and banking partners, clients and the ATM user community in the province.” says ATM Solutions’ Mpumalanga branch supervisor, Gerhard du Plessis, who initially joined the company as a field technician in 2007 and has over six years of experience in the field.

With client relations executives, sales representatives, and dedicated technicians spread across the region, as well as administration and dispatching staff, the branch is well-equipped with all the necessary resources and skills to effectively monitor, maintain, troubleshoot and promptly support the region’s ATMs locally.

With a national footprint of over 4000 ATMs deployed and operated on behalf of eight of southern Africa’s major banks, Wayne Abramson, CEO of ATM Solutions, notes that the new branch is currently responsible for servicing about 300 sites in the Mpumalanga region, and provides a further platform to support our goal of making banking more accessible and affordable to the South African public. “Together with our banking partners, we continue to strive to financially include as many people as possible, particularly in developing and underserviced areas where communities have the most to gain from an extended banking footprint”.

Dedicated to run the Mpumalanga branch in line with ATM Solutions’ internal ethos of “Having fun… Making money… and Doing good,” du Plessis says that the team is committed to making each client feel valued. “Personal interaction based on service excellence, complete customer satisfaction and trust will continue to be the cornerstone of our service offering,” he concludes.

The public can reach the new branch during business hours by calling (013) 692 5518.

For more information on ATM Solutions and its other branches situated across the country visit www.atmsolutions.co.za.

To find out more about Prepaid Cards and Prepaid Card providers, visit Prepaid365.

Plastic is King

Not getting a credit card makes it extremely difficult for the person as it is often repeated that in this generation, plastic rules the universe and you are hamstrung if you have no access to plastic. This is an unfortunate truism of the modern world. That’s where credit credit for bad credit come in to the equation.

Banks, Prepaid Cards and Bad Credit Options

One of the good things about some banks is that they allow customers the ability to improve their credit history and amend previous bad credit reputation by allowing these individuals to access to certain types of credit cards that come with a low or limited credit limit. Through this, the bank can monitor if the account holder is being responsible when it comes to payments or not and can use this as an indicator of potential future performance of that individual in fulfilling their obligations. These credit cards for bad credit offer the customers a chance to re-establish and revamp their credit records and build a good credit history.

There are a lot banks that offer credit credit for bad credit so the account holder will be able to start to rebuild his credit standing. Banks such as HSBC and Vanquis especially cater to people with bad credit.

Visa and MasterCard also provide cards that cater to people in the same predicament. There are a number of prepaid cards providers who provide prepaid credit cards in the UK market which help cater to this segment and help them improve their credit rating using tools such as Creditbuilder, Credit booster, Budget master, etc. Prepaid cards usually come without any interest and there is no credit actually provided on the cards but the providers offer options by which they can help improve ones rating. Cashplus, First Premier, ClearCash and Kalixa are some of the prepaid options available to consumers as a prepaid MasterCard that can help improve credit history.

Dealing with Financial Crisis

There are a number of ways that should be used to prevent another financial crisis from bad credit that a consumer already finds themselves in and the most important thing is to never miss deadlines when it comes to paying debts and to make sure that the balance will all be settled within the month. Credit cards for bad credit are designed by companies to give consumers the opportunity to gain back or rebuild their good credit standing and not to give these people another chance to irresponsibly pile up unpaid debt again.

In this modern age, where money is primarily used in the form of plastic, it’s actually a good thing that people still have the chance to redeem themselves when it comes to improving their credit score and rating. With services like Experian, Equifax, etc it is now possible for individuals who are financially underserved to review their current standing with lenders and improve their creditability using bad credit credit cards and prepaid cards for the un-banked. There are even prepaid cards basic banking accounts offered by some providers.

The key undoubtedly is to ensure that individuals use the opportunity provided by these prepaid cards and adverse credit credit cards wisely and do not fall into irresponsible spending again.

Compare and review prepaid cards and anonymous prepaid cards & the benefits of prepaid cards for the unbanked and bad credit credit cards at Prepaid365.

Source: http://www.prepaid365.com/buzz/2011/11/credit-cards-for-bad-credit-overcoming-credit-rating-issues/

The top 5 reasons for getting the T24 Black prepaid VISA card (or “BIG DADDY” card) would be as follows

• USD 50,000 Card Balance Limit - As a frequent global traveller, it just does not get better than this. The T24 Black prepaid VISA card is for those who like to travel in style.
• Complimentary Priority Pass Access – Priority Pass Access comes as standard with the T24 Black prepaid card which provides access to 600 Airport Lounges worldwide, with business facilities, refreshments and a whole lot more..
• Complimentary Premium Worldwide Travel Insurance –Did someone say Travel insurance? This power prepaid card comes with free premium worldwide travel insurance and medical benefits as standard.
• ZERO Transaction Fees – Yup – there are no transaction fees on the T24 Dollar Prepaid Card. So use in a USD region with zero transaction fees at retail.
• No Credit Checks – Even with the enhanced card balance limit of USD 50,000, the T24 Black prepaid VISA card is a prepaid card and that means no credit checks or bank accounts are necessary and there is guaranteed acceptance subject to identity & residency checks..

Read the T24 Black Prepaid Card review and find out more about the powerful concoction that provides privilege, discretion and affluence.

You can buy the T24 Black prepaid card at https://www.t24blackcard.com/

Source: http://www.prepaid365.com/buzz/2011/11/launch-alert-t24-black-prepaid-visa-card/

The MeCard Prepaid MasterCard was reviewed and launched on Prepaid365 earlier today. The MeCard MasterCard prepaid card is perfect for families with teenagers (13-17). MeCard is safe, secure, and easy to use. Online accounts link the parent card to teen card, enabling the parent to share money in the form of pocket money or gifts, at the click of a button. Parents can view balance of teen cards and top-up money if it’s running low. Money can be loaded to parent card by BACS, DD, in post office or paypoint. Parent cards are FREE and each teen cards cost £9.99 but comes pre-loaded with £10 to spend ANYWHERE. There is currently a special offer available to Prepaid365 Customers for a limited time period as you can get the Parent Card for Free along with a FREE £10.00 load on all teen cards requested as well.

The top 5 reasons for getting a MeCard prepaid card would be as follows

• FREE, FREE, FREE – With a free Parent Card and a £10.00 free load on the teenager card – the MeCard team are effectively giving you the two card pack free along with a pretty penny on top. Did we mention FREE?
• Zero UK Transaction fees – Retail transactions in the UK and anywhere in the world are absolutely free. Foreign retail transactions to get charged an FX fee but no retail usage fee.
• Low ATM Fee – Unlike numerous other prepaid cards, the ATM withdrawal fee on the MeCard prepaid card is also quite low at £0.75. Bargain when compared with other Pay as you go prepaid cards.
• Great for Sharing – This is the cool bit about the MeCard prepaid card. You can share money between the Parent Card and the tenn/young adult card at the click of a few buttons. Transferring money from one card to the other is quick, easy and convenient as 1-2-3!
• Backed by Payment Card Technologies – The MeCard prepaid card is bought to you by the team at PCT, a multiple award winning prepaid card provider.

Read the MeCard Prepaid Card review and find out more about the benefits of this exceptional new youth prepaid card. Get the essence of youth with the snazzy and funky MeCard Prepaid Card.

You can buy the MeCard Prepaid MasterCard at http://www.mecard.co.uk

Source: http://www.prepaid365.com/buzz/2011/11/mecard-prepaid-mastercard-reviewed-on-prepaid365/

Travel Money Cards

1. Choose the Currency Card that suits your needs – Some prepaid currency cards come with free ATM and others have a better exchange rates. Choose the currency card which suits your needs best. Free ATM is useful if you are going on a long trip but on a short trip, you may actually be better off with a travel money card which gives you a better FX rate.
2. Load your card when you get the best FX Rate – Currency rates fluctuate daily. You should load your currency card when the rate suits you best to make sure you get the maximum spend money for your travels at the best exchange rate.
3. Do not use prepaid currency cards to make deposits – If you make a security deposit with your prepaid travel card, that amount will usually get blocked on your card. Unlike credit and debit cards, it can take up to 30 days for the funds to be unblocked on a prepaid card. So using your prepaid travel credit card for making a hotel or car rental deposit is not recommended.
4. Beware Foreign ATM Machine Fees – Some ATM machines abroad will charge a fee in addition to the fee charged by your prepaid card provide. So even if your currency card provider does not charge a fee, you may still find that you have to pay an ATM charge imposed by the ATM owner. Try and find an ATM machine that does not charge a fee.
5. Avoid Using Dynamic Currency Conversion on your Sterling Prepaid Card – When using your prepaid currency card abroad, you may get the choice of paying in Euro, Dollars or in Sterling. Whilst it is obvious that you should use the local currency when using your Euro or dollar prepaid card, you should also choose the local currency when using your sterling prepaid card and avoid Dynamic Currency Conversion (DCC). Using DCC would mean using the retailers exchange rates which may end up costing you more.
6. Check with your Provider for any usage restrictions – Prepaid Card providers require merchants to seek authorisations before they provide goods or services. If a merchant cannot seek an authorisation, usage is usually restricted. An example would be toll roads and bridges, car parks, usage on some trains and trams, etc. It is best to check with your provider with regards to any merchant restrictions prior to travelling.

Prepaid Travel Money Cards are here to stay giving consumers’ business level FX rates on consumer prepaid cards. Find out more about prepaid currency cards such as the First Premier Prepaid MasterCard at Prepaid365.

Source: http://www.prepaid365.com/buzz/2011/10/top-tips-for-using-prepaid-travel-money-cards/

The growing popularity of Prepaid Euro cards is unsurprising given the benefits that currency cards provide. One of the main reasons for the growing use of Euro prepaid cards is down to the increase in card theft and fraud abroad which is being driven higher with the recession across global economies which has raised fraud levels around the world and Brits on European holidays find themselves an attractive target for fraudsters. APACS figures indicate that in 2009, overseas fraud cost Brits £122.7m in card fraud losses. It is also unsurprising that with Spain and France being popular holiday destinations, they also represent destinations with high card fraud loss statistics.

Euro Prepaid Cards have various other benefits in addition to representing one of the most popular methods of minimising your exposure to fraud abroad.

What are Euro Prepaid Cards

Prepaid Euro Cards are prepaid cards on which the transactional currency is in Euros. Similar to all prepaid credit cards, these prepaid cards need to be loaded with funds prior to those funds being available for spend. The funds on the card are stored in Euro currency. This effectively means that when British consumers load their prepaid card with sterling currency, it is converted into Euros at the existing exchange rate and stored on the card in Euros and the cards have a Euro Balance.

Advantages of Euro Currency Cards

There are numerous reasons why one ought to use a Euro Prepaid Card when travelling across Europe.

1. Excellent exchange rates means that you have more Euro’s to spend than you would if you exchanged currency at the airport.
2. Most Euro Prepaid cards have zero point of sale or retail transaction fees when used in the Euro Currency zone. Hence, when you spend €5,00 abroad, you are charged only €5,00 and no more for that purchase.
3. The Euro Prepaid card is not linked to your bank account which means that if you are unfortunately defrauded abroad, your exposure is limited to the funds on your card and your bank account is protected.

These obvious benefits of Prepaid cards are quickly making them the most popular choice for Brits looking to travel across Europe.

Find out more about the Euro, Dollar and Sterling Prepaid Cards and the growing popularity of prepaid currency cards at Prepaid365.

Source: http://www.prepaid365.com/buzz/2011/10/travelling-around-europe-with-prepaid-euro-cards/

UK Currency cards are generally available in Euro, Dollar and Sterling although some providers now provide travel money cards in South African Rand and Australian Dollars as well. It is usually ideal to purchase a travel card in the currency of your travel destination but if you are unable to find a card that matches your travel destinations transactional currency, it is best to get a sterling prepaid currency card.

Why Get a Sterling Prepaid Card

Overseas fraud cost Brits over £122.7m in card fraud losses according to APACS figures in 2009 and hence, getting a prepaid card for overseas travel is highly recommended. However, if you are travelling outside of Euro or USD region or if you are planning to travel to a number of destinations outside of Europe and the US, then a Sterling Prepaid Travel Card is just the ticket as it can be used in any country, with any currency and you do not end up having to convert GBP to Euro/Dollar and then to the local currency.

Typical Features of GBP Currency Cards:

• The main transactional currency is GBP
• There are usually no additional fees or commissions as all such fees and charges are typically included in the exchange rate applied.
• You can usually load your card online, over the phone, or via SMS.
• The balance on your prepaid currency card is held in GBP Sterling. Funds are converted live to the transactional currency at the point of a sale.
• Depending on whether your card is a VISA or MasterCard card, it can be used anywhere around the globe which accepts VISA or MasterCard respectively.
• Prepaid Travel Cards are typically Chip and PIN which provide you with safe and secure access to your funds.

Unlike other prepaid currency cards, you do not need to wait for the right time to load your Sterling prepaid card as there is no FX involved in loading your GBP card. However, remember most prepaid currency cards require a minimum load at the time of application, so make sure you are aware of the minimum initial load when applying for your currency prepaid card.

Find out more about Sterling Prepaid Cards like the First Premier Prepaid Card and more at Prepaid365 – the prepaid comparison portal.

Source: http://www.prepaid365.com/buzz/2011/10/travel-around-the-world-with-sterling-prepaid-cards/

No longer do customers have to spend on expensive wire transfer and get short changed on currency conversions when transferring money outside the United Kingdom. This is possible with Money Transfer Cards. These money transfer cards are essentially prepaid credit cards that you can purchase and provide you with great alternatives to wire transfer and other models of money transfers. The simplicity of the entire process of sending money is so convenient for everyone who needs to send money to anyone across the globe. If you have family members travelling overseas or living overseas, using such Money Transfer cards makes it extremely easy for you to share travel money or remit money to them as additional funds for their everyday use.

Money share or money transfer prepaid credit cards are cards that are preloaded with money that you can use for your purchases. A lot of people now use these cards for shopping in actual stores and in online stores as well and these cards are usually MasterCard, Visa or Maestro branded and can hence be used anywhere in the world that accepts those brands.

While the traditional money transfer facilities are still reliable, using prepaid credit cards to share money and transfer money between friends and family has just increased the convenience and also the costs as opposed to the traditional channels.

How Money Transfer Cards Work

Well, this is fairly simple. Money transfer prepaid cards are usually available as a two pack or in some cases, you can apply for a primary card and then apply for up to 4 additional secondary cards and distribute to those additional cardholders. Some prepaid cards have a shared balance which means that as soon as you load your primary card, funds are available to be shared with the secondary cardholder. The other method is using a card to card transfer. In this case, the primary user would load funds on to their card and transfer a specific amount to the secondary cardholder. This can be done via the online card management facility or by using SMS account management messages. In most cases, the transfer and availability of funds is instant which means none of the form filling, hassle, time wastage or cost of traditional channels.

Getting a Money Transfer Card

Just like any other financial product, you would have to give your personal details to apply for a prepaid credit card that you intend to use for money transfers and sharing money. This typically includes providing proof of address and ID and your money transfer cards are on their way to you.

The added benefit of using prepaid credit cards as money transfer cards is that you do not need to have a good credit record to be eligible for one as there are no credit checks involved with getting a prepaid credit card. In most cases, subject to the above, there is guaranteed acceptance. The market for money transfer cards and prepaid cards in general is set to grow in 2011 and beyond and prepaid money transfer cards are surely the way for the future.

Read the First Premier prepaid money share card review and find out more about how you could be using a First Premier prepaid MasterCard for sharing money with friends and family at Prepaid365.

Source:  http://www.prepaid365.com/buzz/2011/10/prepaid-money-transfer-cards-redefining-global-money-transfer

Mintel market research further suggests that the UK market for Traveller’s cheques has been in decline for a number of years now even though the overall market for travel has increased. There are numerous obvious reasons why prepaid currency cards are growing in popularity but some of the key benefits of these prepaid currency cards are listed below

• Low Cost – These cards help you avoid the high fees linked to the usage of traditional charges associated with using bank issued debit or credit cards overseas
• Safety and Security – The cards are Chip and PIN cards which provide enhanced security and protection against loss, theft and fraud as these cards are usually not linked to your bank account.
• Replacement or Additional Cards – A number of currency card providers provide additional or replacement cards which can be extremely useful if you lose your original currency card.
• Brilliant for Budgeting – With a currency card, you can only spend up to the value of funds that you have on your card which means no overspending and no surprises on your card statement when you return home.
• Complete flexibility and Accessibility – Your prepaid currency card gives you complete flexibility and you can use your card anywhere in the world online, instore and over the phone wherever you see your card acceptance mark.
• Unbeatable Exchange Rates – Exchange rates available on prepaid currency cards are much better than what you would get at the airport or on the high street. This means that you get more spend money for your travels.

One of the main reasons for the growth of Prepaid Currency Cards is undoubtedly down to the worldwide growth of ATM networks and greater card acceptance in countries around the world where it is easier to find an ATM machine but almost impossible to encash traveller cheques

Find out more about how prepaid credit cards are overcoming some of the drawbacks of traveller cheques at Prepaid365.

Source:  http://www.prepaid365.com/buzz/2011/10/currency-cards-killing-travellers-cheques/

This is where business prepaid cards are playing a major part as organisations turn to corporate expense cards and business travel cards with an ever growing number of organisations issuing such prepaid cards to their employees as expense cards, per diem cards and travel cards to be used in a number of situations such as making business purchases, business expense payments and managing travel costs within the UK and abroad.

In addition to the convenience provided by these business travel cards and business expense cards, they provide numerous other benefits.

1. Prepaid Cards are not linked to the employer or employees business bank account which means there is reduced exposure to fraud for both the employer and employee.
2. Carrying money on prepaid cards means that there is lesser chance of expense allocations being misused by employees. There is complete transparency as to where and how these business prepaid cards have been used.
3. There are no interest charges and transaction are either free or extremely competitive which means that there are significant savings to be had when corporate prepaid cards are used in comparison to corporate credit cards.
4. Foreign exchange rates available on corporate travel cards typically available in Euro, Dollar and Sterling are much better than the FX rates available at the airport and high street FX providers.

In addition to all the other benefits, prepaid cards can be issued fairly quickly and acceptance for these prepaid cards is 100% guaranteed as no credit checks or bank accounts are required and all due diligence is usually performed at the outset on the corporate as opposed to the individual employees.

Furthermore, corporate expense cards are usually MasterCard or Visa branded which means that they can be used at millions of retailers around the world in-store, online and over the phone wherever the MasterCard acceptance mark is displayed.

It would be fair to say that in today’s economic climate, where companies are having spending reviews and cutting back on in-efficient practices, prepaid business cards are transforming corporate travel and expense management and there is no longer the need for a cumbersome paper trail.

Read about Prepaid MasterCard cards for expense management which allow you more operational control of your business, increasing efficiency and reducing the internal administration costs of processing payments and find out how these could be perfect for your business at Prepaid365.

Source: http://www.prepaid365.com

Prepaid365

Established in 2008, Prepaid365 is widely regarded as the UK’s leading consumer comparison site for prepaid credit cards and provides a comprehensive FAQ section dealing with all things prepaid. The portal has been lauded by senior industry experts as “the most informative and useful website seen for our industry” and “a mandatory bookmarked site” for everyone in our industry.

Amit Sharma, CEO of Prepaid365 commented “Prepaid365 is a consumer comparison portal and will continue to stay true to its core values of providing honest, independent and unbiased prepaid card comparisons and reviews to customers who are looking to purchase prepaid credit cards – whether they are prepaid MasterCard, Visa prepaid cards or non-scheme branded prepaid cards. However, over the last 2 years, we have played a significant role in providing a platform for organisations and individuals looking to launch prepaid card programmes to meet with prepaid card providers and prepaid stakeholders and we wanted to enhance our role even further with the creation of the business listings”

The new Prepaid365 Business Listing channels have been developed along the following lines

• Small Card Orders Section: Listing of Prepaid Providers who considerable experience in working with smaller orders under 10,000 cards. These are ideal for providers looking to target 100’s of small companies who wish to test the market with small volumes. Each provider has also been provided a dedicated page on which they can provide details of their capabilities, case studies, contact details,etc.
• Standard Orders Section: Listing of Prepaid Providers for Large Businesses, Governments and Multinationals. These are providers who have shown considerable experience in delivering large card programmes over 10,000 cards. Each provider has also been provided a dedicated page on which they can provide details of capabilities, case studies, contact details, etc.
• Prepaid Supplier Directory listing of Prepaid Stakeholders and Service Providers: This is open to all prepaid card providers, programme managers, processors, issuers, insurance providers, risk management service providers, marketing and finance firms and all prepaid stakeholders. This provides an opportunity to prepaid card stakeholders to provide a brief snapshot of their business.

Divya Sharma, Marketing and PR Director at prepaid marketing consultancy Emotion Associates also added “We have now decided to further this through the creation of our Large Business and Small Business prepaid provider listings which highlight 3-4 recommended providers who have shown considerable experience in working with large and small businesses respectively to help launch prepaid card programmes. We have also launched the prepaid supplier directory which provides an opportunity to all prepaid stakeholders to list the services they provide to the prepaid industry and includes prepaid programme managers, issuers, processors, marketing services firms, card manufacturers, logistics and distribution companies as well as risk, finance and legal firms. The idea is simply to assist prepaid businesses to get in touch with the suppliers serve the prepaid industry.”

Recommendations include leading prepaid card business such as First Data, Prepaid Financial Services, Payment Card Technologies, Advanced Payment Solutions, PrePay Solutions amongst others.

Find out more at www.prepaid365.com

Source: http://bit.ly/qrpc9w

PCT are delighted to have had the opportunity to launch such a prestigious card, with enormous brand appeal, which will be ideal for supporters to show their loyalty when travelling to the much anticipated Rugby World Cup 2011 games in New Zealand this season.  With fans travelling far and wide, the card gives them the opportunity to load cash onto the card in the UK and use it to spend before, during and after their trip to watch the games. Wherever they may end up in the world after the games, the card can easily be used to pay for travel, bills and events over the course of their trip making it the perfect way for supporters pay for goods whilst showing their loyalty to the England team.

With games in full swing, it was critical that PCT used all the resources at their disposal to bring the project in on time.  The tight project schedule meant the PCT team and their partners worked tirelessly to ensure the card was launched without a hitch which was essential for blue chip client, The RFU.

Payment Card Technologies were introduced to the RFU through existing client, GCEN, to manage and deliver the card.  PCT were able to showcase their credentials via the successful delivery of other card programmes for the likes of GCEN, Brittany Ferries and World First.  Through GCEN, the team at the RFU knew that PCT would use their expert industry knowledge and through working with existing strategic partners such as BancTec and MasterCard, they would be better placed than others in the industry to get the project off the ground.

Sophie Goldschmidt, RFU Chief Commercial Officer, said:  “We want to provide commercial products which enable our fans to enjoy the game even more; this product has the capability to do that.  PCT has delivered to a tight brief and timescale and we are delighted to be working with them.”

With early sales indicating the success of the card, PCT will be introducing a Euro card and a Dollar card to enable fans to continue to benefit from highly competitive exchange rates whilst supporting the team when travelling overseas.

PCT Managing Director, Ian Clowes commented that “PCT is very pleased and honoured  to  launch the first Rugby World Cup card with England Rugby through its partnership  with GCEN, which has been done in record time, it has been a great team effort and the card will give supporters great benefits throughout this global tournament and beyond “

The card is available to purchase at http://rfu.gcencurrencycards.com/

MasterCard is a registered trademark of MasterCard International Incorporated. The Card is issued by Newcastle Building Society (“NBS”) pursuant to licence by MasterCard International Inc. NBS is authorised and regulated by the Financial Services Authority as an issuer of e-money (registration no. 156058)

Alternatives to Bank Accounts

There seems to be a desire to reinvent personal banking to a degree by switching to recently created new banks, credit union accounts and banking prepaid credit cards all emerging as viable alternatives. Prepaid credit cards are undoubtedly the most popular alternative amongst these as they are all inclusive and everyone is guaranteed a prepaid card irrespective of their poor credit history, bad credit record or the lack of a credit record altogether. However, there is some criticism of new banks and credit unions too.

• New Banks: Whilst these have emerged as alternatives, many argue that the people running them are more or less from the traditional banking industry and sooner or later, these are likely to suffer from the same problems.
• Credit Unions: Credit unions are seen as a growing alternative to the big banks as these are financial institutions owned and controlled by their members. If you join a credit union, it is working to benefit you unlike a bank, which works to make money for shareholders. The problem here is that to be part of a credit union, you need to have a common factor with its members such as living or working in the same area, working for the same company or basically have some common association.

Prepaid Cards: The Perfect Alternative to a Bank Account

Prepaid credit cards on the other hand, represent the ultimate in cashless convenience and applying for these MasterCard prepaid credit cards is also fairly easy and convenient. There are no credit checks required when you apply for your prepaid credit card. Unlike applying for traditional credit cards, you do not need to have a clean credit record or any credit history for that matter and these are the perfect bad credit credit cards. This is largely because your prepaid MasterCard is not a loan facility and there is no credit being actually taken. What you spend on your traditional credit cards is actually borrowed from your credit card company. When you use your prepaid credit cards, you are spending your own money. This comes from the money that you load into your account before you use it. There are account set-up requirements that you might want to look at before you apply for your prepaid credit card. Most of the time, these credit cards would charge you an application fee and then charge you service fees only when you use your card for your purchases or withdraw from it using an ATM.

These MasterCard prepaid debit cards are very much like normal debit cards. You also spend your own money when you use your debit cards for your purchases. The difference is that your debit card has to be linked with a bank account. You do not have to have a bank account to link with your prepaid credit card. You can also load directly into your prepaid debit cards wherever you are. You can even send money abroad through your prepaid credit card. If you check out the fee schedules of most of these prepaid credit card facilities, you will find that it is more cost-efficient to do money transfers using your prepaid credit cards. You also receive your money faster than you would through wire transfer facilities.

Unlike with your bank and bank credit facilities, there is no interest to be paid or redeemed and there are certainly no hidden charges and a number or prepaid cards even come with direct debit facilities making them perfect alternatives to traditional bank accounts.

Read the First Premier prepaid card review and find out more about why you should get a First Premier prepaid card at Prepaid365.

Escape Travel Money – Keeping MP’s in Check

Politicians jetting off on holiday this summer can learn a thing or two about budget management from prepaid card provider EZPay – the name behind the Escape Travel Money cards.

While Chancellor George Osborne might be a friend of the banks in his day job, even he faces a range of rip-off fees when using his plastic for spending when he’s away in the US. Greedy banks grab an average 3% in charges on overseas spend made on UK-issued debit and credit cards. Worst of all is the whopping £5 ‘cashpoint tax’ levied on large ATM transactions.

Paul Smith, managing director at EZPay, said: “Fingers crossed that Chancellor is determined to show off his budgeting skills while in the US. Ditching his favourite bank card is the only way to go when spending money aboard – the charges can be extortionate. We’d like to think that the man in charge of the nation’s purse is savvy when it comes to keeping a keen eye on every penny so we assume that he has a no-fee prepaid currency card from someone like Escape Travel Money.”

Across the pond enjoying a Spanish holiday, deputy prime minister Nick Clegg should be on the look out for Dynamic Currency Conversion – the practise that allows the option at the point of sale to pay in £ sterling. Dynamic Currency Conversion may sound convenient, but the process means a poor exchange rate, plus an additional fee often around 6% for the pleasure that’s shared between retailers and the bankers.

Dynamic Currency Conversion is a popular money-maker for businesses catering for tourists in Spain, although Clegg has a Spanish wife to use the use the local lingo and request to pay all bills in the local currency. For less fluent holidaymakers, the Escape Travel Money Card website explains how request paying in the best value way in 11 different languages – including Spanish, Portuguese, Greek, Romanian, French and even Russian.

Meanwhile, Tuscany-bound Prime Minister David Cameron is advised to take advantage of the strong Euro now and get a cracking exchange rate with the Escape Travel Money Card. Rates are consistently better than those offered by banks, the Post Office and big high street players such as M&S or travel agencies. By loading cash on to the card in the UK the PM can lock in his holiday euros and carry them safely.

The Escape Travel Money pre-paid MasterCard from EZPay Ltd, part of the Phones4u Group, can be used just like a regular credit or debit card in over 30 million MasterCard locations worldwide including fee-free in shops, bars and restaurants.

For more information and to start saving money when travelling abroad please visit www.escapetravelmoneycard.com.

Source: Escape Travel Money Card

Top 5 features of card are:

• Contactless Prepaid Card
• Orange Rewards Customers for spending.
• Various Reload Options
• SMS Card Account Management
• ZERO Transaction Fees & Monthly Fees

Find out more about the amazing Orange Prepaid MasterCard and read the Orange Cash Review at Prepaid365.

What this effectively means for Kalixa cardholders is that they now have the opportunity to top up their prepaid MasterCard® by simply purchasing a Ukash voucher, which can be done with cash at local Ukash agents, wherever a PayPoint, Payzone or epay logo is displayed. Ukash is available from hundreds of thousands of global locations, such as shops, kiosks, petrol stations or at post offices. During a trial period until the 31st of July 2011, Kalixa is offering cardholders the opportunity to try Ukash for free.

Suresh Vaghjiani, Head of Product Management at Vincento, the team behind the Kalixa prepaid card, explained: “The advantage which Ukash offers our Kalixa cardholders is the convenience of being able to top up Kalixa without using their bank account or credit/debit card. By exchanging cash for a Ukash voucher, a high level of privacy is guaranteed, as no financial information has to be provided. Cardholders then simply log into their Kalixa eAccount and enter their 19 digit voucher code and the voucher value they wish to load. The funds are instantly available to use from their Kalixa Card.”

Ukash complements Kalixa’s wide range of load methods, spanning from bank transfer and credit/debit cards to wallets and payment vouchers.

This is an excellent development and further demonstrates the commitment of the Kalixa Prepaid Card team to provide a better product to the market. Read the Kalixa Prepaid MasterCard Review and find out all about the Kalixa Prepaid Card at Prepaid365.

For further information about Kalixa visit: http://www.kalixa.com

Well, prepaid travel cards work just like regular prepaid cards in all respects. This means that you load cash onto these travel prepaid cards and can only spend as much money as you have loaded and is available on the card. However, there is one significant difference between prepaid travel credit cards and a normal prepaid debit card being that travel money cards are typically available in foreign currency which ideally should match the currency of your holiday destination.

In other words, if you are a UK resident, you can buy prepaid travel money cards in currencies other than Sterling, typically being Euros and Dollars if you are travelling to a destination where the transactional currency is Euro or Dollars respectively. So if you were travelling to Europe, you would probably like to get a Prepaid Euro Card but if you were travelling to the United States, you would be much better of getting a Prepaid Dollar Card. However, if you were travelling to a destination that accepted neither Euro’s nor Dollars, then you may as well get a Sterling Prepaid card to avoid having to pay foreign exchange twice.

Here are the 7 Reasons Why You Need a Travel Money Card for your Next Trip Abroad:

1. Much better exchange rates than exchanging cash at the airport
   Many airports have foreign currency exchange booths that offer terrible exchange rates. It is not uncommon to get exchange rates at airport travel money booths which are over 10% worse than the rates offered by leading travel money cards.
2. Better exchange rates than the majority of credit or debit cards
   Credit or debit cards will commonly charge you anywhere between 2.00% – 4.00% on foreign currency transactions, and a further ATM fee for cash withdrawals. This means that leading travel money cards can beat your existing debit or credit card by around 4% or more.
3. Zero point of sale usage fees
   Unlike most debit or credit card which will commonly charge you a 2.75% foreign exchange fee on all transactions, most travel money cards offer free transactions at point of abroad if you use your card in a region which has the same transaction currency at your card currency. This means a whole lot of extra savings for using your prepaid currency card in restaurants, shops, hotels etc abroad.
4. Low ATM fees
   ATM fees on Prepaid Travel money card are consistently lower than those charged on debit and credit cards and some providers even allow for free ATM. However, most charge a small fee. This is more than made by the excellent foreign exchange rates that these cards provide.
5. Load and manage your travel card online
   With your prepaid travel card, you can usually check your current balance and recent transaction history online free of charge. Some travel money cards even offer you the facility to check your current balance and top-up your cash using SMS messaging from your mobile phone.
6. More secure and convenient than cash
   A few prepaid travel card providers also offer consumers the facility to have multiple cards on the same account. Although you should check with your travel money card issuer first, if you are able to take a spare card with you and keep it safe and away from your main card, then your card issuer should be able to cancel your main card and transfer any existing funds to your spare card without too much hassle. An extra level of safety and security and should you be targeted by fraudsters, you know that your exposure is limited to the fund son the card as your prepaid travel card is not linked to your bank account.
7. Lock-in exchange rates when they are high
   Another great thing about travel money cards is that when you top them up, you lock-in the currency exchange rate which you get on the day that you load the card. That means that you can hold-off exchanging your travel cash if you think that the rate is going to get better before you travel. You can also buy now if you think that the rate is going to go down.

Prepaid Travel Cards are easily replacing cash, traveller cheques and credit cards as the most popular way of carrying holiday money abroad. It is no wonder that prepaid travel cards such as the PocketCurrency prepaid MasterCard has rapidly established itself as one of the leading products in the market.

Read the PocketCurrency prepaid travel card review and find out more about why you should get a prepaid currency card at Prepaid365.

The Freedom Eagle Prepaid MasterCard® powered by White Eagle (Europe) Plc has won the Best Payroll Prepaid Card category at the 2011 Prepaid365 Prepaid Card Awards. This is the third year in a row that White Eagle prepaid card products have made a splash at the annual Prepaid365 Awards underlining the contribution that White Eagle have made to the UK prepaid card industry.

The annual Prepaid365 awards recognise best in class prepaid propositions and providers voted for by consumers and Prepaid365’s subject matter experts with the awards being based on various factors including application process, card design, fee structure, features, functionality, added value and feedback from customer, customer services and the prepaid industry

Amit Sharma, CEO of prepaid marketing consultancy Emotion Associates and founder of Prepaid365 mentioned “the Freedom Eagle Prepaid MasterCard was one of the first 5 star rated products featured on the Prepaid365 portal and this consumer accolade is well deserved. Prepaid within payroll is still a growing industry and the White Eagle team are at the forefront driving that growth.”

The Freedom Eagle prepaid card is available as an instant issue and ATM access retail Chip and PIN prepaid MasterCard. It is available to purchase online and from independent retailers, supermarkets, fuel stations and other networks too. The Freedom Eagle prepaid card can be used at over 30 million locations worldwide and at over 1.5 million ATM’s. The card also comes with flexible tariffs with a Pay As You Go, a pay monthly and a mixed fee structure available to suit all palettes.

Philippe Hardy, Sales Director of White Eagle (Europe) Plc, commented “I am pleased to accept this award on behalf of the team at White Eagle. We are passionate about delivering an exceptional service and to be recognised in this way increases our determination to produce and deliver quality products to meet the needs of our customer.”

Prepaid Payroll cards provide numerous benefits for both employers and employees. Employers can cut down on payroll processing costs and cheque costs and by providing a prepaid payroll card and are able to load that card with the employee’s wages within minutes, efficiently and cost effectively. With payroll prepaid cards, employees have the ability to receive funds on a card rather than having to cash a cheque and it gives them access to shopping on the Internet or through the traditional retail environment.

The Freedom Eagle Prepaid card is currently available with no upfront fees and comes loaded with some excellent features such as Credit Booster, Insurance Protection, Cashback and mobile account management.

Visit Prepaid365 to find out more prepaid credit cards, prepaid MasterCard and visa prepaid cards as well as the Prepaid365 Awards and all the winners.

The annual Prepaid365 awards recognise best in class prepaid card propositions and providers voted for by consumers and Prepaid365’s subject matter experts with the awards being based on various factors including application process, card design, fee structure, features, functionality, added value and feedback from customer, customer services and the prepaid industry.

Amit Sharma, CEO of prepaid marketing consultancy Emotion Associates and founder of Prepaid365 mentioned “the BaBeeCard is all about delivering added value to families and that is a priceless proposition in these economic times. The recognition for BaBeeCard at the Prepaid365 awards is well deserved and marks a period of professional and personal success for the BaBeeCard team. We have always rated the BaBeeCard as one of the top prepaid products in the UK and consumers undoubtedly agree”

A prepaid MasterCard card, the BaBeeCard is not a credit card but a prepaid card that you can load with funds and then use to make purchases at over 30 million locations that accept MasterCard. No credit checks are necessary as there is no borrowing facility.

Gemma Johnson, founder and CEO at BaBeeCard, commented that “we are delighted to have won consumer recognition at the Prepaid365 Awards for a third year running. BaBeecard continues to flourish and looks forward to new and exciting developments in 2011. Our premise has always been to deliver exceptional value to our customers and the awards are recognition for those efforts over the last 12 months. BaBeecard’s aim to help families save money, remains one that we are passionate about, with the recession having left many families struggling not least due to inflation which continues to rise. Despite the recent March budget specifically claiming to ‘raise the standards of families’ with some helpful concessions, families will actually be hit harder than single earners over the next two years, due to the tapering away of tax credits for incomes of more than £40, 000 and the imminent removal of child benefit from higher-rate taxpayers. Financial saving for Families has never been so important.”

The awards also represent a personal triumph for Gemma who was recently voted the Winner in the 3rd annual MumsClub Business Awards in the Resilience Category for overcoming various setbacks in building her business including ‘glass ceiling’ attitude but was recently rewarded for her resilience and perseverance securing a seven figure investment to grow the business.

All Press Enquires should be directed to BaBeeCard at

• email: info@babeecard.com

Visit Prepaid365 to find out more prepaid credit cards, prepaid MasterCard and visa prepaid cards as well as the Prepaid365 Awards and the winners.

• Winners of the Best B2B Provider – Small Programmes
• Recognition in the Best Prepaid Card Innovation for South African Rand Travel Card

Widely recognised as one of the most innovative prepaid service providers PFS provide a wide range of solutions including B2B products, travel products, corporate expenses, payroll, commission payouts and social and benefit payments.

Noel Moran, CEO of Prepaid Financial Services Ltd expressed his delight with the results commenting, “We are delighted to have been recognised with these two awards. We are particularly proud that we have been recognised in two fields which have been our key focus from day one. Since its inception PFS has strived to offer corporate clients flexible low cost entry into the prepaid market. Our purpose built prepaid software platform is constantly tailored to improve our offering and meet the requirements of our clients.

He continues, “Our commitment to innovation is aptly demonstrated by the delivery of the first South African Rand prepaid card. We fully intend to continue this commitment in the coming years.”

To top off what has been an excellent year for PFS two clients of theirs also picked up awards. Best International Prepaid Card award went to the PCS Prepaid MasterCard. The first instant issue MasterCard of its type in France, it is available in 20,000 merchants and can be purchased, activated and loaded in store within minutes. For more information please visit http://www.pcs-card.com

The Camden C-ool Prepaid Card picked up recognition in the highly competitive Youth category. The card offers young people an opportunity to spend their money on positive activities in and around Camden. Aimed at young people who are eligible for free school meals in school years 9-11, young people looked after and who have learning disabilities and difficulties. Spending is restricted to merchants and service providers in the Camden area offering access to positive and fun activities such as music lessons, theatre productions, museums and cinemas. For more information please see http://www.lbc.coo-l.com

B2B solutions

PFS was founded with the intention of providing small businesses with a means of entering the prepaid market with a minimum of cost. Depending on requirements clients can choose from an ‘off the shelf’ generic prepaid card offering or a fully bespoke white label prepaid card.

Innovation

The PFS South African Rand Travel Card was the first Prepaid Rand MasterCard to be offered in Europe. Launched to coincide with the 2010 World Cup the card offered a safe, convenient and low cost means of purchasing travel money. As well as the excellent exchange rates offered to cardholders security conscious travellers loved innovative features such as the ability to block their card from use using a simple SMS command. To find out more about the PFS South African Rand Travel card visit http://www.southafricantravelcard.com

Amit Sharma, CEO of Prepaid Consultancy Emotion Associates and and founder of leading prepaid comparison site Prepaid365 stated that “The PFS team have quickly developed a reputation as one of the most flexible and innovative prepaid programme managers in the UK. It is fair to say that PFS are undoubtedly well positioned to serve both small and large clients in the UK and abroad. There is a definite commitment to innovation and providing added value backed by excellent infrastructure and relationships across the prepaid spectrum. It is not a surprise to see PFS and a number of their clients win accolades at this year’s prepaid awards”.

To find out more about the Prepaid365 Awards 2011, visit http://www.prepaid365.com

The PFS Prepaid Card is available in multiple currencies including GBP, EURO, USD, AUD and ZAR. Visit the PFS Prepaid Card site at www.prepaidfinancialservices.com to find out more about PFS and their Prepaid Card products for Travel, Money Share, B2B, Payroll and General Spend.

All Press Enquires should be directed to Prepaid Financial Services at

• Tel: +44 (0)207-125-0321
• Email: info@prepaidfinancialservices.com
• Website: https://www.prepaidfinancialservices.com

Visit Prepaid365 to find out more prepaid credit cards, prepaid MasterCard and visa prepaid cards as well as the Prepaid365 Awards and the winners.

The team at PCS rounded off an impressive few months with recognition at the 2011 Prepaid365 Prepaid Card Awards by winning the Best International Prepaid Card category. The first of its kind in France the product has received widespread media coverage and consumer interest since its inception.

The PCS prepaid MasterCard launched in December 2010 has been developed specifically for the unbanked and underbanked demographic however the demand for the product would indicate that online shoppers, young people and frequent travellers have quickly come to recognise the benefits of this card. The card is currently available for purchase in 20,000 merchants throughout France.

The 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.

Philip Aim, CEO of CreaCard expressed his delight with the result stating: “We are extremely proud to have launched the first prepaid card in France, but much more proud to receive this consumer award at the Prepaid365 Awards, which for us is primarily the recognition of a successful project that’s both secure and reliable. We hope that the French market for prepaid will grow successfully for PCS products and that our customers will find in this product an alternative to traditional means of payment, with additional services that will enrich the offer in the coming weeks.”

Noel Moran, CEO of Prepaid Financial Services Ltd, the programme manager of the PCS Prepaid Card, comments: “We are delighted that the PCS MasterCard has been recognised as the Best International Prepaid Card. For this programme, PFS 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.”

Amit Sharma, CEO and founder of leading prepaid comparison site Prepaid365 and the Prepaid365 Awards stated that: “The consumer prepaid card market in France is still in its infancy in stark contrast to the UK but the success of the PCS MasterCard seems to indicate that the market for prepaid is growing rapidly and there is a tremendous appetite for prepaid in France. PFS and PCS are well positioned to take advantage of that demand.”

The PCS MasterCard combines a payment card with innovative and cutting edge loading and card management facilities providing low cost access to online payments.

All Press Enquires should be directed to Prepaid Financial Services at

• Tel: +44 (0)207 125 0321
• Email: info@prepaidfinancialservices.com
• Website: https://www.prepaidfinancialservices.com

Visit Prepaid365 to find out more prepaid credit cards, prepaid MasterCard and visa prepaid cards as well as the Prepaid365 Awards and the winners.

The third annual Prepaid365 Prepaid Card Awards 2011 assess the cards, websites and supporting services of over 200 different prepaid cards across 22 award categories. The Prepaid365 Awards are voted for directly by consumers and the results are based on consumer votes, reviews and industry feedback, with the top performers winning the highest accolades.

Featuring clear tools to aid consumers in choosing the best value holiday spending money option, www.escapetravelmoneycard.com was praised for its total transparency in listing costs of acquiring a card. The website for the Escape Travel Money Card also carries an informative blog, daily-updated foreign exchange rates, and a clear log-in area for cardholders where they can monitor their account.

Paul Smith, managing director, EZPay Ltd, the operator of the Escape Travel Money Prepaid Card, commented: “Winning one of the top awards in the prepaid business within 12 months of the Escape Travel Money Card and website launching is fantastic news. We’re really proud to have overtaken traditional players in the prepaid sector so quickly, and thrilled that our efforts to offer the best option for consumers looking to save money and enjoy simple and fee-free spending abroad have been recognised. The Prepaid 365 Prepaid Card Awards win is a significant signal that our customers, and our industry, are enjoying our no-nonsense approach to business as much as we are.”

Announcing www.escapetravelmoneycard.com as winner of the Best Prepaid Card Website in the Prepaid365 Prepaid Card Awards 2011, Amit Sharma, CEO of prepaid marketing consultancy Emotion Associates and founder of Prepaid365 explained: “The prepaid card sector has enjoyed a year of new arrivals and the Prepaid365 Prepaid Card Awards 2011 highlight the top performers from both consumers and the industry’s point of view. This means users of the Prepaid365 comparison site can be confident that the winners represent the best in terms of value for money, but also are the most respected in the financial and currency exchange sector. The Escape Travel Money Card is a worthy winner, and one to watch for the future.”

With a one-off fee of £9.99 per card, the Escape Travel Money prepaid MasterCard offers better foreign exchange rates than traditional high street favourite foreign currency providers, and has NO CHARGES for withdrawing money abroad or spending. A dedicated Euro or US Dollar card is available to allow international travellers to take advantage of the best exchange rates available and pre-load a card with holiday spending money.

For more information and to start saving money when travelling aboard please visit www.escapetravelmoneycard.com

ENDS

For further information, please contact

• Contact: Katie Wright, Emily Cuthbert or Sarah Rathbone at Siren
• Email: katie.wright@sirenpr.co.uk; emily.cuthbert@sirenpr.co.uk or sarah.rathbone@sirenpr.co.uk
• Tel: 020 8237 1210 or 07595 055 882

Wins Runner Up Gong in Best Youth Prepaid Card Category

The Camden COO-L Prepaid Card, a unique product launched by Camden Council to promote young people’s activities, was celebrating recognition at the 2011 Prepaid365 Prepaid Card Awards by scooping the Runners Up award in the Best Youth Prepaid Card category.

The Camden COO-L Prepaid card offers young people an opportunity to spend their money on positive activities in and around Camden. Aimed at young people who are eligible for free school meals in school years 9-11, young people looked after and who have learning disabilities and difficulties.

The card is loaded with 25 pounds Sterling per month which can then be used by the cardholders to participate in fun and positive activities in their local area. Cardholders do not have access to withdraw these funds at ATMs. Instead they are restricted for use at specific merchants and service providers in the Camden area, including music lessons, theatre productions, museums and cinemas.

David Ingham, Camden COO-L Project Manager, said: “It’s great news to be recognised in the best youth based card category. Thanks to the Prepaid365 Prepaid Card Awards for this nomination. The card gives young people independence to choose what they would like to do.”

The card has received an overwhelmingly positive response from the young people involved with the project. Feedback included:

• “I find the card very easy to use as it’s just like a MasterCard. My Mum told me how to use it at first and then I got the hang of it.”
• “It makes me feel sort of grown up, having a card.”
• “I hope to participate in new activities to learn new things and make new friends.”
• “Because you only have to type in a PIN number to buy things – the only thing you have to remember is your PIN number!”
• “It’s easier than using money because you won’t lose it easily.”
• “When you get too much money, you wanna go to cinema or want to go out too much, you wouldn’t like to stay at home….but I can improve that by managing the money I have got and decide where and when to go out.”

Noel Moran, CEO of Prepaid Financial Services Ltd, programme manager of the Camden COO-L Prepaid Card, said: “We are delighted that the Camden COO-L project has been recognised in the Prepaid365 Consumer Awards. PFS have worked closely with the COO-L team to deliver a card programme which is tailored to meet very specific requirements. The success of the programme is a testimony to the commitment and dedication of the COO-L team and also to the flexibility and scalability of the PFS prepaid platform. That the project empowers young people and affords them opportunities to engage in healthy and positive activities is something we are very happy to facilitate.”

Amit Sharma, CEO of Prepaid Marketing Consultancy Emotion Associates and founder of Prepaid365, stated that “Prepaid cards play an important role in providing youth a safe and controlled spending option and this is one of the key pillars of the prepaid value proposition. The Camden COO-L prepaid youth card is an excellent vehicle for teaching children the disciplines of budgeting and providing them with enhanced accessibility and financial independence in a controlled environment – this recognition is well deserved.”

All Press Enquires should be directed to Prepaid Financial Services at

• Tel: +44 (0)207-125-0321
• Email: info@prepaidfinancialservices.com
• Website: https://www.prepaidfinancialservices.com

Visit Prepaid365 to find out more prepaid credit cards, prepaid MasterCard and visa prepaid cards as well as the Prepaid365 Awards and the winners.

The Caxton FX Prepaid Currency Card, one of the UK’s most popular prepaid travel cards, has been announced as the winner in the Best Travel Prepaid Card category at the 2011 Prepaid365 Prepaid Card Awards. This is the third year in a row (2009, 2010, 2011) that consumers have voted for the Caxton FX Prepaid Currency Card as their first choice of prepaid travel card.

Launched in 2007, the Caxton FX prepaid currency card was the first to make launch a free prepaid currency card, and the first to abolish ATM fees abroad.

Andrew Swailes, Head of Communications, Caxton FX: “The Caxton FX card was the first of its kind, and ever since then we have strived to continue to offer a unique product in what is now an immensely competitive field. I am delighted that Caxton FX has been recognised as the market leader. We have always tried to put the customer first and make their life as easy as possible – since the day we started the greatest percentage of card sign-ups has come through clients recommending our card.”

Caxton FX Prepaid cards are available free of charge to consumers in three currencies – GBP, EUR and USD. A Chip and PIN prepaid MasterCard, these cards can be used in over 30 million worldwide locations to make purchases in-store, online and over the phone in addition to making withdrawals at over 1.5 million ATM’s worldwide.

Amit Sharma, CEO and founder of leading prepaid comparison site Prepaid365 stated that“the prepaid card market in the UK is growing rapidly and that growth is driving greater competition and better value for consumers. The Caxton FX Prepaid Travel Card ticks all the boxes when you think about a card that you would like to carry on your travels. Free to get, free to load, excellent business class FX rates and even  free ATM withdrawals* backed up by world class customer service from the Caxton FX team. It really does not get better than this and undoubtedly, consumers feel the same way”

Caxton FX recently launched its FastPay service, an online service enabling regular payments of small sums overseas with no transaction charges, bringing significant savings for customers.

*free ATM withdrawals are only available on EUR and USD currency cards from Caxton FX

ENDS

PCT are delighted to have won the award for Best B2B provider of large programmes 2011, from the respected Prepaid365 Prepaid card awards.

Ian Clowes, Managing Director of PCT commented that “the award recognises the amazing efforts of our highly knowledgeable and dedicated team who help to turn clients’ often complex visions into successful prepaid solutions.  Award wins such as this reinforce the premise that we are providing our clients with expert programme management from concept to delivery.”

Since its inception, PCT have built a reputation for the launch and management of robust prepaid card programmes.   For example, FairFX , one of PCT’s first clients, today offer one of the most successful travel cards available.  Other partners have quickly followed suit, with the first quarter of 2011 already seeing the launch of five new card schemes.

PCT offer a wealth of benefits and cost saving solutions for businesses through the delivery of fully branded Prepaid Cards, providing a great opportunity to:

• Reach out to new market segments
• Access a global payment mechanism
• Provide safe and secure payment solutions
• Make substantial cost savings through the replacement of cheques/cash/vouchers
• Improve brand recognition through major branding opportunities
• Increase customer loyalty

PCT recognize that no two card schemes are identical. Prepaid card partners come from a broad spectrum of industries from the more obvious sub-prime lenders, or travel operators such as FairFX and Brittany Ferries, to companies such as MeCard, who have developed a card targeted specifically for the teenage market.

For PCT, its not just about selling cards, but ultimately about the solutions and genuine added value that the cards bring, that will help to drive prepaid into the next generation. It is this attention to detail and solution-orientated approach that helps to drive repeat card usage – which is great news for the programme owners, the end-customers and the prepaid industry as a whole.

Amit Sharma, CEO of prepaid marketing consultancy Emotion Associates and founder of Prepaid365 said “the PCT team brings together years of experience in the financial services and prepaid card industries to deliver effective and innovative solutions in a fast moving, dynamic and global industry. They have helped numerous clients launch successful prepaid card programmes with customised and flexible solution built on the premise of exceptional technology, speed-to-market, superior service and continuous innovation. PCT Client programmes are already making their mark with award nominations within consumer and trade circles and PCT are worthy winners of this award.”

Working with best-of-breed partners, such as Banctec, Visa and MasterCard, PCT have become key players in a number of progressive and market-altering projects, leveraging more ground-breaking technology than ever before.

• Designed to enhance the lives of the end-customers beyond just a method of payment, these solutions include:
• Development of next-generation ticketing, including contactless payment and entry to a number of high profile sport clubs and sport member associations with a total membership numbering in the millions;
• Cutting edge loyalty/discount/cashback schemes creating genuine incremental business for retailers (including state of the art, instant issue delivery right to the customer via stand-alone kiosks)
• The prestigious Pay-Pass project aimed at festivals, as key delivery partners to MasterCard.

For further information, visit www.paymentct.com

To find out more about Prepaid Credit Cards including Prepaid MasterCard, Visa Prepaid and Maestro prepaid cards , visit www.prepaid365.com

Amit Sharma, CEO of prepaid marketing consultancy Emotion Associates and founder of Prepaid365 said: “The prepaid industry continues to grow at a rapid pace with close to 100 new programmes launching over the last 12 months. Each year, there tend to be one or two prepaid cards which simply stand out above the rest, and the NETELLER Net+ Prepaid Mastercard is undoubtedly one of the stand out performers of 2010-11 with a ringing endorsement in six categories from those who matter most – consumers. The title best in class is definitely apt in this case and is just reward for an exceptional year for the team at Optimal Payments.”

Dan Starr, Executive Vice President and Chief Marketing Officer at Optimal Payments said: “We are delighted to win yet more consumer awards at the Prepaid365 Awards for the NETELLER Net+ card. Prepaid365 provide the industry with comprehensive information on the prepaid market and are helping raise consumer awareness of prepaid cards; a mandatory site bookmark for all prepaid stakeholders.”

The three categories won by the NETELLER Net+ card are

• Best Prepaid Card Overall
• Best Gaming Prepaid Card and
• Best Prepaid Card Innovation.

The innovation award was won by the virtual NETELLER Net+ card, which generates a one-time card number for each online purchase. The NETELLER Net+ card was also runner up in the categories for Best General Spend Prepaid Card and Best Free Prepaid Card, while NETELLER’s Ninja Defence Facebook Game was runner up in the Best Prepaid Marketing Campaign category.

These latest awards add to a growing list of industry recognition for the NETELLER Net+ card. Previous wins include Best Prepaid Marketing Campaign at the Prepaid Awards in October 2010, the Best Gaming Prepaid Card at the Prepaid365 Awards in February 2010, as well as Best New Prepaid Card Product Launch at the Cards and Payment Europe Awards in 2009. The NETELLER Net+ card is available to NETELLER members in over 70 countries. It is free to buy, free load, and there are no monthly fees.

Prepaid365 is a leading online portal which provides information on prepaid card programmes. The annual Prepaid365 awards, launched in 2009, recognise best in class prepaid propositions and prepaid card providers voted for by consumers and Prepaid365’s subject matter experts, respectively with the awards being based on various factors including application process, card design, fee structure, features, functionality, added value and feedback from customer, customer services and the prepaid industry.

Visit Prepaid365 to find out more about the awards and this year’s winners at http://www.prepaid365.com

The Secure Trust Bank Prepaid MasterCard has been rewarded for its added value prepaid proposition with wins at the 2011 Prepaid365 Prepaid Card Awards with consumers votes securing a win in the Best Unbanked Prepaid Card category to go with the runners up award in the Best Basic Bank account category.

The Secure Trust Bank prepaid MasterCard was only launched in late 2010 and has already established a large customer base. The product provides an excellent alternative to those who are unbanked, have a poor credit history, are seeking a credit card alternative or have simply lost their faith in traditional banking.

The Secure Trust Bank Prepaid MasterCard offers consumers the ability to set up direct debits and standing order instructions and customers are automatically enrolled into the Secure Trust Bank Rewards Scheme which enables them to earn cash rewards of up to 4% at over 30 major high street retailers when they shop with their prepaid card. Furthermore, the pre paid card is MasterCard branded and can be used anywhere the MasterCard acceptance logo is displayed – online, in-store and at over 30 million retail locations worldwide in addition to 1.5 global ATM’s for cash withdrawals

Amit Sharma, CEO and founder of leading prepaid comparison site Prepaid365 stated that “this is an excellent win for the team at Secure Trust Bank. Providers like Secure Trust are putting the faith back in banking and providing consumers with a viable alternative to traditional banking structures. Prepaid card adoption as a mainstream payments solution has suffered due to the inability to set up direct debits and standing order instructions but the Secure Trust Bank prepaid card allows consumers to do this and is a real basic bank account – so much more than just a prepaid card.”

The Secure Trust Bank Prepaid MasterCard represents a real credit card alternative and there are no credit checks necessary which means guaranteed acceptance subject to identity & residency checks

Source: http://www.prepaid365.com

Prepaid365, the UK’s leading prepaid card comparison site, announced the winners of the 2011 Prepaid365 Prepaid Card Awards recognising best in class prepaid credit cards and providers across different categories such as Travel, Everyday Money, Money Transfer, Payroll, Gaming, Online Shopping and Youth including prepaid MasterCard, Visa Prepaid Cards and Maestro Prepaid Cards.

Launched in 2009, this is the third edition of the fast growing annual Prepaid365 Consumer Awards with over 128 prepaid cards entries across 22 categories being voted for by over 37,000 consumer respondents and Prepaid365 subject matter experts in the business categories.

Divya Sharma, Marketing and PR director at Prepaid365 commented “The prepaid industry continues to grow and so do the Prepaid365 Awards. We had 22 award categories as opposed to 14 from last year and the consumer response has been absolutely astounding. We have always maintained that raising consumer awareness is key to increasing the adoption of prepaid credit cards as a payment mechanism in the UK and the Prepaid365 Awards are all about providing prepaid industry stakeholders a platform for that consumer recognition. Whether it is prepaid MasterCard, Visa or Maestro prepaid cards, Prepaid365 remains the consumers first resource to review and compare prepaid cards. “

Winners on the night included

• Best Prepaid Card – Neteller Prepaid MasterCard
• Best Newcomer Prepaid Card 2010-2011 – Kalixa Prepaid MasterCard
• Best General Spend Prepaid Card – Cashplus Prepaid MasterCard
• Best Travel Prepaid Card – Caxton FX Prepaid Card
• Best Unbanked Prepaid Card – Secure Trust Bank Prepaid Card
• Best Payroll Prepaid Card – Freedom Eagle Prepaid Card
• Best Privacy Prepaid Card – Splash Plastic Prepaid Card
• Best Incentives/Rewards Prepaid Card – Virgin Money Prepaid PAYG Card
• Best Gaming Prepaid Card – Neteller Prepaid MasterCard
• Best Youth Prepaid Card – Splash Plastic Prepaid Card
• Basic Back Account with Prepaid Card – Think Banking Prepaid MasterCard
• Best Online Shopping Prepaid Card – BaBeeCard Prepaid Card
• Best Free Prepaid Card – O2 Cash Manager Prepaid Card
• Best Gifting Prepaid Card – Starbucks Prepaid Card
• Best Moneyshare Prepaid Card – Payzone Worldwide Money Prepaid Card
• Best International Prepaid Card – PCS Prepaid Card
• Best Prepaid Card Innovation – Neteller Virtual Prepaid Card
• Best Prepaid Marketing Campaign – Travelex Prepaid Marketing Campaign
• Best Prepaid Card Website – Escape Travel Prepaid Card
• Best Prepaid Card Design – BaBeeCard Prepaid Card
• Best Programme Manager – Small Programmes – Prepaid Financial Services
• Best Programme Manager – Large Programmes – Payment Card Technologies

Mark Horgan, Director at Travelex said: ‘As the global currency specialist with over 34 years experience, Travelex prides itself on being an industry leader. The prepaid market has become increasingly competitive, especially here in the UK, so this is a great honour and tribute to our market leading Cash Passport product. To be acknowledged by consumers at the Prepaid365 Awards for our work in educating consumers on the benefits of prepaid cards is testament to the hard work the team put into this campaign. Further, the fact that this award was voted by the public is a wonderful commendation, so thank you to everyone who took the time to vote.’

Dan Starr, Executive Vice President and Chief Marketing Officer at Optimal Payments (NETELLER) said: “We are delighted to win yet more consumer awards at the Prepaid365 Awards for the NETELLER Net+ card. Prepaid365 provide the industry with comprehensive information on the prepaid market and are helping raise consumer awareness of prepaid cards; a mandatory site bookmark for all prepaid stakeholders.”

Amit Sharma, CEO at prepaid marketing consultancy Emotion Associates and founder of the Prepaid365 Awards commented that “The great thing about consumer awards is that the endorsements actually mean something for prepaid industry stakeholders – you are getting things right. From the originators like Splash and Cashplus to the innovators like Neteller and Kalixa, the Prepaid Card industry is in excellent health and continues to grow. As with all maturing markets, as the market grows, so does the competition and the innovation and the incentives and that means better value for consumers and that can only be a good thing.”

Prepaid365 is the UK’s leading prepaid card portal online to review, compare and buy prepaid credit cards representing an encyclopaedia of information on prepaid cards, providers and all things prepaid including prepaid MasterCard, visa prepaid cards and free prepaid cards. To review and compare prepaid cards for Money Transfer, Travel, Gaming, Shopping, Payroll and Expense management, Privacy, Gifting and Business, visit www.prepaid365.com.

Find out more about what the winners said on the Prepaid365 site.

Source: http://www.prepaid365.com/buzz/prepaid365-prepaid-card-awards-2011-announced/

Orange has announced the launch of Orange Cash, the UK’s first major contactless prepaid MasterCard card.  Allowing customers to take total control of their spending, the prepaid card is a secure alternative to carrying around cash and can be used in over 30 million locations that accept MasterCard within the UK and abroad, as well as online. The announcement follows the launch of the Orange contactless credit card in 2009 and this year’s roll out of a commercial contactless mobile payments service on Orange.

Highlights

• New, easy-to-use contactless Orange Cash prepaid MasterCard^® allows customers to make faster payments on the high street
• Orange Cash customers earn reward points as they spend, redeemable against a great range of rewards including Pay As You Go Orange texts, airtime, credit or Orange shop vouchers
• MasterCard PayPass™ Contactless card technology enables customers to quickly make purchases of £15 or under wherever the contactless symbol is displayed

Gone are the days of parents giving cash as pocket money – they will now be able to give their children their own fully-fledged prepaid MasterCard card.  Perfect for the first time bank card user, the Orange Cash prepaid card costs just £5 and can be loaded up to £5,000* with the peace of mind that you can never spend more than you load.  The card is also ideal students who want to manage their spending and for holidaymakers who want a hassle free, safe alternative for cash so they can focus on kicking back and enjoying the sun.  Orange Cash prepaid cards can be loaded with money at over 22,000 shops and petrol stations across the UK with the PayPoint logo, at 12,000 Post Offices, over 450 Orange Retail stores and online on the Orange Cash website.

The Orange Cash card is also the UK’s first prepaid card to be offered with rewards that can be used on the customer’s Pay As You Go mobile phone (Orange Pay As You Go phones only).  Earning one Orange prepaid reward point for every £1 spent***, customers can redeem their rewards** online for free texts, airtime, credit on Orange Pay As You Go phones or vouchers for use in Orange shops.

Orange Cash prepaid customers also benefit from the ease and convenience afforded by contactless technology.  By simply holding their Orange Cash card close to a contactless reader, customers can pay for purchases of £15 and under without the hassle of loose change.  Contactless payments offer a quicker and more convenient way to pay.

The prepaid card has been developed for Orange by PrePay Solutions, the UK and Europe’s leading prepaid services company. Gilles Coccoli, Managing Director of PrePay Solutions, comments on the new product: “As a company closely involved in new prepaid card developments across the world, we see this as one of the most impressive and innovative cards to be launched yet. It has been an exciting project for us.”

Orange Cash also helps customers manage their money securely from their mobile while on the move.  After registering their card, customers can access the main features of their Orange Cash account from their mobile to keep up to date on any transactions.  In addition Orange Pay As You Go customers can manage their account just by texting 311.  It’s also easy to top up an Orange Pay As You Go Phone from the Orange Cash account, while funds can also be transferred between Orange Cash cards.

Pippa Dunn, Vice President of Orange Propositions said: “We’re excited to be launching yet another innovative product for UK consumers in the financial services space. With Orange Cash, users will not only benefit from the convenience and control our new contactless prepaid card will offer them, but the unique ability to collect and redeem rewards against future Orange products and services – helping their money to really work for them each time they spend.”

For more information on Orange Cash prepaid card, please go to [orange.co.uk/orangecash]

Amit Comments: Yet another excellent offer from one of the mobile giants. We have already seen Phones4u (EZ Pay) and O2 (Telefonica) go down this route with general spend cards and travel cards such as the O2 Cash Manager Card, the O2 Load and Go Card, Neon prepaid, Escape Prepaid and the Escape Travel Card. Only time will tell if Orange have cracked the code with the Orange Prepaid MasterCard.

Notes:

* PPS, the card service provider,  is legally required to confirm a customer’s identity upon receipt of the application.  As long as this is possible, the customer will receive a card that allows them to shop online and in the high street, as well as withdraw money from ATMs, up to a maximum spend limit of £5,000.  If PPS is not able to fully confirm a customer’s identity by verifying the address the customer has entered on their application, they will receive a card that still lets you shop everywhere, but has a total spending limit of £1,600 a year (up to £600 of this can be withdrawn from ATMs). The single transaction limit is £600 and loading via debit or credit card is not possible.

** Orange Cash Rewards Table

*** Rewards are only available on eligible purchases*.
*Eligible Purchases = purchase of goods or services based on cleared transactions except for: – Refunded transactions (example refund in a shop or a disputed transaction) – Gambling transactions (based on Gambling MCC code) – Account to Account Transfers -ATM withdrawals -Fees/charges to card account – Airtime top-ups

For full T&Cs please orange.co.uk/orangecash

This card is issued by PrePay Solutions, pursuant to a license by MasterCard International Incorporated. MasterCard is a registered trademark and MasterCard PayPass is a trademark of MasterCard International Incorporated.

About Orange UK

Orange is the key brand of the France Telecom Group, one of the world’s leading telecommunications operators. With almost 131 million customers, the Orange brand now covers Internet, television and mobile services in the majority of countries where the Group operates.

In the UK, Orange provides high quality GSM coverage to 99% of the UK population, and 3G coverage to more than 93%.

Orange and any other Orange product or service names included in this material are trade marks of Orange Brand Services Limited.

On July 1 2010, the company became part of Everything Everywhere, one company that runs two of Britain’s most famous brands – Orange UK and T-Mobile UK – with plans to transform the industry by giving customers instant access to everything, everywhere, offering them the best value, best choice and best network coverage in the country. Everything Everywhere Limited is the UK’s biggest communications company, with a combined customer base of almost 28 million people and more than 720 retail stores across the country. Everything Everywhere Limited is registered at Hatfield Business Park, Hatfield, Hertfordshire, AL10 9BW under the registered company number 02382161.

For more information please call the Orange Press Office 0870 3731500, or visit www.orange.co.uk/newsroom

About PrePay Solutions
The UK and Europe’s leading prepaid services company is an alliance between Edenred (formerly Accor Services) and MasterCard Worldwide. Drawing on 10 years experience and the combined strengths of its shareholders, PrePay Solutions delivers excellence in prepaid.

The company’s work is driven by five values: entrepreneurialism, innovation, performance, simplicity and sharing.
PrePay Solutions designs and manages closed, open and controlled loop prepaid programmes including Retail Gift and Promotional Cards, Prepaid Debit, Rewards and Incentives, Payroll, Corporate Expenses and Benefits Cards. Each programme is tailored to meet the specific needs of PrePay Solutions’ clients, who are based in the retail, corporate, online, mobile, travel, and financial sectors.

For more information please visit www.prepaysolutions.com

As with other products, you do need to sign an agreement electronically and accept terms and conditions as set out by the prepaid card provider when applying for a prepaid card. If you are applying for a prepaid credit  card using a form, then there may be terms and conditions mentioned on that form itself.

Typically, if all else fails, you should be able to find these terms and conditions on the prepaid card provider website. Areas within the terms and conditions, that you should pay special attention to include the following.

• Card Cost: Is the card free? If not, what is the potential cost?
• Validity Period: what is the Validity period of of the card? How long before it is no longer valid?
• Monthly Charges: Is there a monthly service charge, and, if so, what exactly do you get for it? Would it be better to get a pure pay as you go prepaid card instead?
• Usage Fees: what are the fees for using your card? There are cards which charge nothing for local transactions. They might be a better choice.
• Top Up Fees: What are the fees for loading your card? Some top up and loading options are free. Use them.
• Customer Service Setup: what are the fees for contacting customer services? Some providers can charge up to £1.00 per call that you make to them. Avoid these, if possible.
• Usage Restrictions: Any clauses regarding restrictions on the usage of your card. The majority of prepaid cards cannot be used to hire a car or at certain prepaid parking lots, etc. Know the restrictions before the card fails to your embarrassment.
• Account Closure Fees: Is there a charge for closing your account?Some providers charge £10-£20 for closing an account
• Card Replacement Fee: Will you be charged for replacing the card, in the event that it is lost or stolen?
• Card Renewal Fee: Do you have to pay a fee each time the card is renewed (i.e. upon each expiry date)?

It is quite easy to assume that Terms and conditions would tend to be standard across the prepaid card industry but that is definitely no longer the case as the industry grows and there are over a 100 products to choose from in the UK market alone. That basically means that terms and conditions are still worth reading especially to ensure you are aware of the items above and are able to find the best prepaid card to suit your needs.

For free prepaid credit cards and to review and compare Prepaid Credit Cards at Prepaid365 to find the card that is right for you.

However, being a new market, there is so little coverage and advertising by the industry or banks on prepaid debit cards or “prepaid credit cards” as they are popularly known and with so few banks actually supporting Prepaid Credit Cards at this point, it is quite easy to jump to the conclusion that Prepaid Credit Cards are a scam.

Well, you really could not be further from the truth on this one. Prepaid card issuers, in fact have much stricter regulations than other electronic card products such as debit cards and credit cards as there are no credit checks or bank accounts required to get one. Since getting a Prepaid Credit Card is pretty easy and almost everyone who applies, gets one, the regulations around the usage or Prepaid Credit Cards, the issuers and the communication is much stricter especially for those cards available to under 18 years of age.

So why don’t the banks advertise prepaid credit cards?

Well, the fact of the matter is that banks are financial institutions which have a duty to their shareholders and stakeholders to make money and Credit cards make a lot of money for banks. Banks seem to be tempted by the idea of Prepaid Credit Cards as an idea and possibly to add unbanked consumers to their customer database but the risk of cannibalising their existing credit card market share with a prepaid card product with much smaller margins, is a commercial no no.

At the end of the day, banks cannot charge late fees, interest rates on balances and/or selling debt onto debt collectors, overdraft fees etc on Prepaid Credit Cards as there is no credit available on Prepaid Credit Cards, there is no overdraft, neither do you receive or pay any interest which means there is no debt.

Hence, the only way banks can make money on prepaid credit cards is by charging an initial fee, usually about £10 to buy the card and then a top up or usage fee. However, as the market expands and more and more prepaid credit card providers and issuers come on board with some branded cards being provided by the largest brands in the market, the margins on Prepaid Credit Cards have decreased even further making the solution even less attractive for banks. Most prepaid credit cards can now be topped up for next to nothing or allow fixed fee withdrawals or allow for free UK or worldwide point of sale merchant transactions – hence, not very attractive as a a revenue stream to banks that are used to credit card revenues.

Do banks have a hidden motive?

Not really. There is no hidden agenda but there is a commercial decision to be made. It would be great to see some major banks launch prepaid card solutions and the opportunity does exist for them, even if they do not see it. The schemes like MasterCard and VISA are definitely promoting the growth of prepaid and Prepaid MasterCard cards are quite popular. As such, with or without mass market support, there are numerous excellent prepaid card solutions in the market now such as the Caxton FX, Cashplus Prepaid MasterCard, Escape Prepaid Travel Card and Neteller.

Many leading providers of global prepaid solutions provide excellent discussion on how banks could benefit from a prepaid solution but we are yet to see banks make a major move. I guess the simple question for banks should be – what is the net value they place on getting a currently unbanked customer to them – when they have assigned a value to this which justifies their involvement, you will see them come on board..

In reality, prepaid credit cards are by far a better deal than any credit card can be for certain customers by choice and for others by need. If one were to compare the true cost of using a prepaid card and a credit card, the prepaid card would almost always win and they have none of the risks associated with owning a normal credit card.

So Prepaid Credit Cards are not a scam, banks do not have a hidden agenda but there is a hesitancy to educate the consumer and support Prepaid Credit Cards by the banks due to fears of cannibalising existing credit card channels and replacing a vastly more profitable revenue stream with a vastly more prudent and customer friendly prepaid card scheme.

As the market grows there are a number of new cards being launched such as the Secure Trust Prepaid Card and the Blue Sky Prepaid Card.

Review and Compare Prepaid Cards at Prepaid365

Scenario:

Cue: Mother decides the fault probably lies with Barclays and Microsoft Xbox as opposed to self and boy and they should be liable in some way and hence, will be contacting a solicitor.

Source: My son racked up £1k bill on Xbox

Analysis: After the cursory chuckle (which could last a few hours), it would be interesting to see if they actually get some financial relief as I would definitely be willing to go down the same route. There have been recent instances about consumers complaining about in game purchases with iTunes Apps where someone has purchased a kiddie game and not realised that in game purchases would not require a password if they had entered their password in the last 15 minutes for any reason whatsoever. Perfect scenario for the control features of youth prepaid credit cards perhaps?

The iTunes apps scenario effectively led to most game developers to include the ability to turn off these in game purchases via their iPhone settings. In a number of instances prior to this, the game developers even compensated the consumer as they recognised the flaws with their current setup.

However, this situation is completely different as the consumer has inadvertently turned off parental controls and not been aware of the spend over a period of six months and whilst it may be an honest mistake, its definitely not something for which either the Bank or Gaming company should be help liable in any way.The bank may noticed what could be defined as suspicious activity but we cannot be sure what the triggers for suspicious activity are and Xbox had already provided the option to prevent this happening which…erm…the consumer turned off!

So – really cannot see how they could be held liable but could a prepaid card have helped in this situation. There are a number of youth prepaid cards available to teenagers and youth which come with low spending limits and in some cases, you can even restrict spending on certain items. Even if that was not the case, the spending on the prepaid credit card would have been limited to the amount actually available on the card which might have limited mum and sons losses to a smaller figure at the very least!

Verdict: Liability – not happening but if it does, I am jumping on the bandwagon!

The Online vs. Offline Distribution Dilemma

For prepaid card issuers, one of the biggest dilemmas is establishing and picking the right distribution channels to reach consumers and currently, there is an unhealthy obsession with expensive offline distribution channels so much so that some issuers tend to focus too much time on putting their product in front of the consumer and too little time in actually building a proposition that will be attractive to those consumers.

Other’s advocate a 100% online approach which risks alienating a section of the population which does not, can not or will not venture online to search for the best deal. Whilst still a significant segment and definitely not one to be ignored, this segment is growing smaller rapidly as customers move to the Internet to find the best deal.

Word of Mouth Fuelling Prepaid Credit Card Growth

With prepaid card issuers, sometimes placing their somewhat misdirected focus solely on distribution channels, product designs, fee structures and more, it is not surprising that the product sectors which seem to be growing the fastest are the travel money, money remittance and teen prepaid credit card sectors and the majority of this growth is being fuelled by word of mouth and viral marketing.

These products provide obvious and undeniable value to customers via cashback, discounts and rewards which ultimately translate into consumer savings; savings that they clearly understand and are significant and this is really where word of mouth kicks in.

If it’s a good idea, consumers will talk about it offline with their friends and online via the blogs and forums where strangers will quite happily accept and assimilate this advice and information into their purchase decisions.

Why Viral Marketing or Word of Mouth Works

Well, the simplest explanation is that unlike unsolicited advertisements or “spam”, “Viral” marketing or “Word of Mouth”, as it is also called, is usually not delivered when the consumer has not sought it. The unsolicited bits tend to stopped in their tracks once they reach their destination whereas word of mouth continues to spread, almost without effort, as people who know you and have used your service and most importantly, are happy with it, tend to refer you to others thereby granting you a higher level of confidence, credibility and loyalty.

Given that word of mouth advertising is a critical element of promotion in the offline world and the prepaid card issuers are obsessed with developing offline channels, it is a wonder that very few prepaid card companies actually invest in a good viral marketing strategy.
The few who have like the BaBeeCard, Caxton FX, Cashplus Prepaid MasterCard, Neteller and Escape Prepaid Travel Cards have undoubtedly benefited from this viral effect.

Of course, the best viral strategy is also the simplest one which is to have a great consumer friendly product proposition and then word of mouth really does take care of itself – strategy or no strategy.

Visit Prepaid365 to review and compare uk prepaid cards.

Prepaid Cards for Teenagers Driving Youth Payments :

By giving your kids their own prepaid cards, you can actually teach your kids how to monitor and spend their money wisely without these risks.  You can also put restrictions on your child’s prepaid card so that he cannot use it on unnecessary spending like online gaming.

Prepaid cards for kids emphasize the importance of budgeting and of spending only money that you have instead of borrowing to purchase the things you want but not necessarily need.  Unlike credit cards, you do not face the risk of your children spending more money than you are ready to spend.  They are limited by the amount of money that you load their prepaid cards with.  These prepaid cards for teenagers could also be used as gifts so your children or whoever else you gift with it the chance to purchase what they really want.  Unlike gift cards, you can load cash into these prepaid cards anytime. There are in fact a number of free prepaid cards for kids as the market for prepaid credit cards continues to grow.

The youth segment of the market is undoubtedly one of the most profitable and youth prepaid cards are definitely flourishing.  In the past, children would have to have their parents with them to make their purchases.  They normally are not able to make their purchases without their parents.  Today, purchases from this market segment have been shown to increase substantially with the proliferation of prepaid cards.  As they are allowed to use their prepaid cards themselves, they are able to make their purchases even without their parents.  Note that you cannot use a prepaid card without loading it first.  Your children cannot go on a spending spree on money they do not have.  Parents actually use these prepaid cards to give their kids spending money from time to time.  You can test your children’s budgeting skills with these prepaid credit cards if you want.  You will have a good idea of what they would spend on if they are left on their own and be able to gauge the kind of guidance they still need in the area of financial management.

Whatever the reason, teenage prepaid credit cards are here to stay and in addition to the numerous reasons to get them, there are a number of choices which could qualify as the best prepaid cards for kids.

• Visits to Toys R Us
• Purchases made at Toys R Us
• More Need for Speed downloads on my iPhone
• The latest issue of What Car magazine and
• Eating only when absolutely necessary!

I, on the other hand, being a grown up use this statement only when dealing with rather more important things like buying a new PS3 game perhaps or accessories for the aforementioned iPhone.

A couple of months back, we launched the call for entries into the 2011 Prepaid365 Prepaid Card Awards and whilst I was marvelling at some of the contenders for this years awards like the Neteller Net+ Virtual Prepaid Card (8 currencies and generates a 1 time use only card number) or the brilliant travel prepaid card – the CaxtonFX card (with Free ATM) or the Cashplus prepaid MasterCard with creditbuilder, I also started thinking what it would take within the prepaid industry for me to proclaim and exclaim that “it’s a good idea!” and I came up with the following three thoughts

1. Provide Financial Protection and Compensation: Provide Prepaid Credit Cards with the same sort of protection available on normal credit cards. Balance on personalised prepaid cards really do need to be protected by the Financial Compensation Scheme or something similar. With the number of prepaid card companies that simply wind up and disappear, not having this sort of protection is a killer.
2. Make the Product Sticky: This is not some weird dialogue that you’d find in an amateur German or Dutch production but rather a call to make the product as useful and attractive as possible. There are numerous prepaid card companies which already provide features to boost your credit rating,purchase protection, cashback, etc but they should be doing even more. Why not provide a whole range of ancillary products to include items such as Identity Theft Protection, Travel Insurance, Income Protection (Formerly PPI), Purchase Protection, Personal Accident Cover, Mobile Phone Cover and additional Gadget Cover. Surely this will help extend the life cycle of the average general spend card beyond 7-12 months.
3. Launch the Nectar Prepaid Card: This for me is the ultimate “good idea” and probably should have been done 5 years back. It’s the one product that would make perfect sense 100% of the time. Just pack it in with all the goodness of the Nectar Loyalty card and all the functionality of prepaid credit cards and you have a winning combination.

Find out more about the UK’s best prepaid cards and why I think the Nectar Prepaid Card may just be the best idea yet at Prepaid365 but get in touch with me directly if you want to find out more about my nephew’s latest bright idea! :0)

High tech foreign currency business FairFX.com has today launched an innovative online service for international money transfers and foreign currency transactions.

FairPay offers a fully automated online money transfer solution for the general public, at business level exchange rates and no transfer or payment fees.

FairFX.com Chief Executive Stephen Heath said: “When we launched FairFX.com in 2007,we rattled a few cages amongst the traditional travel money providers simply by giving the consumer a better deal with our technology. Now we’re are going to do the same with international money transfers.

“With FairPay, the customers gets market leading rates for transfers overseas and can send as little as £500 and up to £10,000 equivalent in Euros or US$ overseas with an online registration and payment anytime of the day or night.”

Heath went on to explain: “Much of the traditional international money transfer industry has been slow to embrace technology and this means that a lot of the process is labour intensive and inefficient. At FairFX.com we have enhanced the technology we built for delivering travel money on prepaid currency card and applied that to international transfers.

“This improved technology keeps our costs down and gives our customers a better price and greater convenience with a highly secure fully encryption protected platform”

Find out more about the FairFX FairPay international money transfer service here: http://www.fairfx.com/fairpay

Amit Comments: Yet another excellent offer from the FairFX Team. This launch comes fairly close on the heels of the recent launch of  the FairFX  “Family and Friends” currency card  to compliment the existing Fair FX currency cards.

Check out Fair FX and other leading travel card providers such Caxton FX and Rational FX to find the best deal for yourself.

The awards continue to generate significant interest in the UK and abroad as they gain recognition as the leading consumer awards within the prepaid industry.

With most of the award categories being voted for solely by consumers, the awards provide an excellent endorsement for the efforts of prepaid credit card providers providing recognition for the best in category service provider in different categories as well as highlighting a few worthy runners ups.

As the Prepaid365 Prepaid Card Awards continue to grow in stature and reach, so do the award categories with gongs being handed out in 22 different categories (up from 14 last year) based on consumer and industry feedback. Subject matter experts at Prepaid365 in conjunction with consumers and real users, will now spend the next 6 weeks researching and reviewing prepaid credit cards and providers across the UK to find 22 eventual winners.

Amit Sharma, CEO and Senior Consultant at Prepaid365 commented, “We are extremely pleased to announce the call for entries for the third edition of the Prepaid365 Prepaid Awards in 2011. The 2009 and 2010 editions of the awards were hugely successful so we have a lot to live up to over the next few months as we research over 200 products in the market. The awards grow bigger each year and we expect 2011 to be the biggest awards night yet”.

The additional new categories being awarded this year include the following

1. Best Card Design
2. Best Website
3. Best Basic Bank Account with Prepaid Card
4. Best Incentive Prepaid Card
5. Best Cashback Prepaid Card
6. Best Free Prepaid Card
7. Best Prepaid Card – Overall

Divya Sharma, Marketing and PR Director at Emotion Associates stated, “Over the last few years, we have worked extremely hard with consumers and prepaid card issuers in developing Prepaid365 as a portal that serves both the needs of the consumer and the industry.

Consumers find our independent prepaid card reviews an excellent tool for decision making and our business sections provides those interested in prepaid credit cards the opportunity to find a business partner from within our prepaid business directory. The launch of our new affiliate proposition ensures that not only will there be greater visibility across the web for prepaid cards assisting consumer education but there will also be a growing number of prepaid stakeholders assisting the growth of the industry and sharing in its success.

The Prepaid365 Prepaid Card Awards are the peoples choice awards handed out by your consumers completely free of commercial bias and an excellent opportunity for issuers to measure, gauge and bookmark success.”

Previous winners at the Prepaid365 Prepaid Card Awards include industry leaders such as  O2 Money, Virgin Money, Cashplus, Splash, Caxton FX, White Eagle, Neteller, Eclipse, BaBeeCard, TSYS, First Data and Prepaid Financial Services as well as newcomers such as Phones4u, Clearcash and Hiten.

Last Call for Entries for the 2011 Prepaid365 Prepaid Card Awards

Have you got a prepaid credit card programme that has been recently launched or has performed exceptionally well over the last 12 months?  Have you submitted your entry into the Prepaid365 Prepaid Card Awards? Well, download the entry form and details below and submit your entry before the deadline on 31st December, 2010.

• Word Format
• PDF Format

Remember the deadline is 31.12.10 and we will not be accepting late submissions this year. All the best!

Source: http://www.prepaid365.com

These prepaid credit cards can be loaded from an existing FairFX card in the same currency. You can also move money back from the Family and Friends Card onto your original FairFX card, making it much easier to manage larger budgets while you are away on your holidays.

Stephen Heath, FairFX Chief Executive explained how the new card could be useful: “You could give your teenager a pre-set limit of spending money when you are out shopping for the day, giving them freedom to go away and do their own thing, and giving you control over your finances.

“On the other hand you might have an older child planning a gap year. You can keep them topped up with cash, so they don’t have to worry about finding internet access on the move, or racking up big fees on credit cards.

“It’s also useful to keep the whole family topped up with cash on holiday from one place. Perhaps somebody might need to pick up a car while the rest of you grab something to eat? With individual cards, you won’t have money worries.”

The FairFX Family and Friends card costs just £6, and qualifies for the same outstanding exchange rates offered to regular FairFX cardholders. Find out more at http://www.fairfx.com/familyandfriends.

- Ends -

Media enquiries

FairFX Press Office
pressoffice@fairfx.com
David Bain
Tel. 020 7778 9316

Stephen Heath
Chief Executive
FairFX Plc
T: 020 7778 9302
M: 07785 291 059
Stephen@fairfx.com

Ian Strafford-Taylor
Chief Operating Officer
FairFX Plc
T: 020 7778 9308
M: 07920 793 793
ian@fairfx.com

Amit Comments: This seems to be another excellent initiative from the team at FairFX. The market for travel Prepaid Credit Cards continue’s to grow and new initiatives such as the “Family and Friends” currency card  just ensures even greater stickiness for such currency cards. As always, the proof of the pudding is in the tasting – so lets see how this works over the next few weeks and months.

Check out Fair FX and other leading travel card providers such Caxton FX and Rational FX to find the best deal for yourself.

One of the the few programmes to buck the trend of optimistic failures is the NETELLER Net+ Prepaid Credit Card programme. The Net+ Prepaid Card programme is managed by the guys at Neteller and is available as either a physical Prepaid MasterCard or as a Virtual Prepaid MasterCard and here’s why these cards work.

• The Net+ Prepaid Credit cards are relatively fee free
  One of the biggest criticisms of prepaid credit cards has been the endless fees attached to those prepaid cards.  with the Net+ prepaid card there is no application fee, POS transactions are free and their are no monthly fees too. There are no dormancy fees or inactivity fees too unlike a number of other prepaid credit cards in the market.
• The cards are pretty “sexy”
  Not much to say about but the physical Net+ Prepaid Credit card is one extremely good looking piece of plastic and would undoubtedly grace any pocket.

• The Net+ Prepaid Credit Cards fill an existing need
  By far the most important reason, the Net Prepaid card is not just something which has simply been imposed on to customers because Neteller thought it was a good idea. There was a definite need in terms of how Neteller’s online presence was translated into the physical world. Customers and affiliates needed to have a secure method of receiving payouts and withdrawing cash and the Net+ card allows them to do that safely and securely with reduced exposure to fraud as the Net+ card is not linked to the users bank account.

  The Virtual card offers the amazing functionality of generating a card number for one time online usage which ensures that even if card details are stolen, they cannot actually be used by the hacker/fraudster to do anything as by the time, the user has completed their transaction, that card number has expired too! Brilliant!

I think the lesson for the prepaid credit card industry is quite simple – come up with a simple, attractive and fee free product which fills an existing need for consumers as opposed to one that fills a corporate need to simply launch a programme.

Read the NETELLER Net+ Prepaid MasterCard Review at Prepaid365.

Apply Now for  the Net+ Prepaid MasterCard card.

Stephen Heath, Chief Executive of prepaid currency card specialist FairFX.com explained: “In the travel money marketplace there are 4 main ways that people spend overseas. These are:-

1. Travel Cash – either bought at a Bureau de Change or sent in the post
2. Travellers Cheques – decreasing in volumes and very “old economy”
3. Prepaid Cards – rapidly increasing market sector (including the FairFX $, Euro and £ Anywhere Cards)
4. £ Debit and Credit Cards – simply spending using a £ Sterling card and incur the fees from currency conversion

“Crown was firmly within the first category – Travel Cash – and within that was relatively unique. Crown offered travel money that you paid for now in advance of travelling and received the foreign currency sometime (up to 9 months later) in the future.

“Crown’s rates got more attractive the further in the future the consumer was buying for. This is like a “forward” contract in the FX market although the rates that Crown were offering for longer-dated future delivery were surprisingly attractive to consumers.

“It is this peculiarity of Crown that will have contributed to them being able to end up in the position of having an estimated £20 million of delivery liabilities versus only £3 million of available cash because as long as new orders were coming in then they could meet their immediate obligations.

“The vast majority of travel cash providers do not fall into this category and exchange cash in person at bureau de changes or delivery next day in the post and as such there is a lesser risk of other providers running into these difficulties and if this did happen then very few customers would be effected because the transactions are all “same day”.

It seems that the events at Crown serve to emphasise just one of the attractions of a prepaid card as a better travel money solution.

Heath added: “Most Travel Money cards, including FairFX, are actually issued by Newcastle Building Society (NBS) and the funds loaded on to cards are instantly credited at NBS on behalf of cardholders. NBS is a well capitalized ‘mutual’ Building Society. As such, NBS is regulated under the Building Societies Act of 1986 as amended at the end of 2003, as well as by the Financial Services Authority (known as the FSA).

“Under the terms of the Act a company can only be called a Building Society if ‘its purpose or principal purpose is that of making loans which are secured by residential property and are funded substantially by its members’.

“The Act goes further and stipulates that at least 50% of the funds raised by a Building Society must be raised from deposits from the members. In this respect, the Building Societies are much more conservative than Banks and therefore less risky.

“Therefore, in the unlikely event of NBS running into financial difficulties, the money would be protected. Indeed, NBS themselves said that they are able to guarantee the safety of all prepaid card balances as this money is held completely separately in a designated client account, which would not be affected even in the event of the Society experiencing financial difficulty.”

Media enquiries

FairFX Press Office
pressoffice@fairfx.com
David Bain
Tel. 020 7778 9316

Stephen Heath
Chief Executive
FairFX Plc
T: 020 7778 9302
M: 07785 291 059
Stephen@fairfx.com

Ian Strafford-Taylor
Chief Operating Officer
FairFX Plc
T: 020 7778 9308
M: 07920 793 793
ian@fairfx.com

Amit Comments: Travel Money Prepaid Credit Cards continue to represent one of the success stories within prepaid. With leading FX providers like Fair FX, Caxton FX and Rational FX providing travel money cards, the market is fairly secure and should continue to be so. As always with the prepaid credit card industry. it is important to have your ear close to the ground though. There are now a number of cards in the market which do provide protection and insurance against such failures too but that is primairly down to the card issuer.

With prepaid cards, you load funds onto your card and use that money to make purchases and get cash – you are not borrowing money from a bank or other financial institution. Read on if you are interested in finding out what prepaid credit cards are all about.

Credit on Prepaid Credit Cards

Also known as a Prepaid Debit Card or just as a Prepaid Card, a prepaid credit card is similar to a regular credit card, except that there is really no credit limit as such and that funds available on the card are actually the funds that you have loaded on to the card. So essentially a prepaid credit card is not really a credit card at all.

Prepaid credit cards typically come with a whole set of fees attached typically relating to issuance, loading, usage and cash withdrawals. Depending on the plan you choose, you can get a pay monthly or pay as you go prepaid credit card. These cards are especially useful for those with bad credit or a non existent credit history and in such cases, the benefits of prepaid credit cards far outweigh any of these potential extra charges.

Getting Prepaid Credit Cards

The important thing to remember is that a prepaid card does not give you access to credit – so you do not really need to undertake and pass any credit checks as such. This also means that even if you have a non existent credit history, bad credit or even have CCJ’s, you are still more than likely to get approved for a prepaid credit card.

However, as with most financial services, you still need to provide details to verify your identity and your address (typically a passport, driving licence and a utility bill with your UK address should suffice). Most UK based prepaid card issuers can verify your details online to provide you with instant approval and your prepaid credit card would come through in the post in 7-10 days.

The Benefits of Prepaid Credit Cards

Well, the main benefits are that prepaid credit cards are available to all regardless of their financial status. There are no credit checks or bank accounts necessary in order to apply for these prepay credit cards. Prepaid Credit Cards allow you to spend without the fear of debt or fraud at millions of retailers online or on the high street.

You can even use them to withdraw cash from ATM’s. Prepaid cards can be MasterCard, Maestro or Visa branded. Prepaid cards with the MasterCard brand can be used to make purchases in-store, online and over the phone at over 28.5 million locations worldwide and to make withdrawals at over 1 million ATM’s worldwide

Click here for more detailed information on the benefits of prepaid credit cards.

Using Prepaid Credit Cards

As there is no credit on Prepaid Credit Cards, you cannot get into debt but also there is no interest payable on the card which makes prepaid credit cards an outstanding proposition for all. You can get prepaid credit cards for all kinds of things which include

• Travel
• Shopping
• Money Transfer
• Gaming
• Payroll
• Banking (if you do not have a bank account)

and much much more.

Find out more about Prepaid Cards

Visit Prepaid365 to find out more about prepaid cards and prepaid credit cards and review and compare prepaid cards.

• Australian Dollar MasterCard Prepaid Credit Cards launched.
• Targeted at 664,000 British nationals visiting Australia* annually
• Prepaid Credit Cards available in EURO, USD, GBP, AUD and ZAR
  

In anticipation of the estimated 664,000 British nationals visiting Australia* annually, Prepaid Financial Services (PFS) have launched Europe’s first MasterCard Prepaid Travel Card in Australian Dollars (AUD). The Australian Dollar Travel Card offers secure, cost effective and convenient foreign currency and is available directly to consumers (www.prepaidfinancialservices.com) or through businesses to their staff or consumer base. The Prepaid Card is issued by Transact Network Ltd.

Noel Moran, CEO of PFS explains, “Due to the increasing consumer demand for prepaid cards for buying Travel currency, we are delighted to launch the PFS MasterCard Prepaid Australian Dollar Travel Card. The Card will be available throughout Europe and combines the safety of a payment card with the flexibility and convenience of a mobile phone. Cardholders travelling to Australia can effortlessly manage their money 24/7 using their mobile phone, while making significant savings when buying their holiday currency.”

The Australian Dollar Travel Card can be loaded using a debit or credit card online or by SMS. Furthermore, cardholders can load their cards via a bank transfer or standing orders and wage transfers from employers.

When the card is purchased, it can be immediately loaded with Australian Dollars at the then current rate of exchange. The currency on the card is ‘locked in’ at the rate it was purchased meaning value does not fluctuate with exchange rates. This allows canny consumers the option of purchasing their currency in advance of their holiday when the Sterling to AUD rates may be at its most favourable. As the card is now loaded with local currency when cardholder’s use their card in Australia they are effectively spending in Australian Dollars meaning there are no foreign exchange charges on their transactions.

The card provides a very competitive exchange rate compared with airports and high street currency providers. In addition cardholders can save for their trip to Australia by making multiple loads to their card over several months.

Carrying large amounts of cash while abroad is not recommended and is often unsafe. One of the biggest advantages of the PFS MasterCard Prepaid Australian Dollar Travel Card is the safety it provides to cardholders. The card provides the security of a Chip and PIN MasterCard Card, making it a safer alternative to using foreign currency abroad. The cards are considerably more convenient than traditional Traveller’s Cheques, where travellers have the hassle of carrying around their passport and have to record their spent Traveller’s Cheque numbers.

Carrying large amounts of cash while abroad is not recommended or indeed very safe, this is particularly true in South Africa. One of the biggest advantages of the PFS MasterCard Prepaid Rand Travel Card is the safety it provides to cardholders. The card provides the security of a Chip and PIN MasterCard Card, making it a safer alternative to using foreign currency abroad. The cards are considerably more convenient than traditional Traveller’s Cheques, where travellers have the hassle of carrying around their passport and have to record their spent Traveller’s Cheque numbers.

A cutting edge feature of the card is that it can be managed by simply sending SMS instructions from a registered mobile phone or online via the website. If a cardholder loses their card they can send an SMS to our system which will block the card from any unauthorised use at ATMs or in store.

The range of self-service account management functions available using a mobile phone includes the ability to initially load and top-up your card with funds, lock and unlock your card instantly and to obtain your card balance. These self-service functions are available at any time, globally, instantly, which gives customers enhanced control over their funds. In addition, cardholders can conveniently top up their card by sending an SMS message from their mobile phone from anywhere in the world.

PFS are offering travel agents or anyone in the tourism sector the opportunity to re sell or distribute the PFS MasterCard Prepaid Australian Dollar Travel Card. Benefits to companies that wish to sell the card are:

• PFS are the only dedicated prepaid provider providing a Card in Australian Dollars (AUD) where business clients can benefit by earning commissions on card activity for the life of the card.
• An additional revenue stream for the reselling company
• No additional resources are required to offer the cards
• Ideal value added service for companies with existing travel offerings
• No licence requirements to offer the product
• It is an “off the shelf offering” and you can be up and running in less than 10 days.
• No investment or cost incurred to start selling the product

To apply for a PFS MasterCard Prepaid Australian Dollar Travel Card or find out more about business prepaid card solutions from PFS, visit the PFS website at www.prepaidfinancialservices.com.

Transact Network issues the PFS Prepaid MasterCard. Transact Network (www.transactnetwork.com) is a licensed European E-money institution and a MasterCard® principal member. Powering prepaid programs is the company’s sole business.

“With PFS, businesses can introduce a prepaid card product without the need to commit to minimum card volumes or pay excessive prepaid programme setup fees,” Noel explains. “We create low-volume prepaid card programs on generic branded plastic within 10 working days. This enables companies to take advantage of opportunities in record time. Furthermore, our clients are not tied into minimum card orders which are common amongst many prepaid providers.”

For more information contact:

Prepaid Financial Services Office:

+44 207 292 7581

* Source Tourism Australia

Amit Comments: Travel Prepaid Credit Cards obviously work and the travel sector represents one of the success stories within prepaid. Kudos to Prepaid Financial Services for launching the Australian dollar prepaid MasterCard card in addition to their launch of the South African Prepaid Rand MasterCard card earlier in the year.

-          Travelex Corporate Cash Passports to be preloaded with specific amounts

-          The prepaid credit cards are available in three different currencies (GBP, USD and EUR)

Travelex has stepped in to help the 21-strong British judo team manage their travel expenses during the imminent World Championships taking place from 9^th – 13^th September and beyond.  The foreign currency provider has issued members of the Olympic hopeful team with a Travelex Corporate Cash Passport to trial the system for future travel expense needs.  The collaboration further strengthens Travelex’s involvement in the sports arena, following on from a successful partnership with the British Gymnastics team.

The British judo team travels extensively each year; up to 3 times a month across the world, often crossing borders which confiscate large sums of money and have restrictions on taking money in and out.  Bearing this in mind, along with the fact that the team spend around 25,000 Euros during each Major Championship and tot up expense bills of around £200,000 annually, the Corporate Cash Passport is the ideal solution for managing their expenses abroad.

The Travelex Corporate Cash Passports will be preloaded with specific amounts each time the team leaves for a championship.  Amounts will include team members’ food and travel expenses from the British Judo Association.  The card can be reloaded by the British Judo Association, using Travelex’s online card management system, allowing them manage their team members’ expenses effectively during their extensive travels. Cash Passport removes the need for complicated cash deliveries and will show a clear trail of expenses for each of the judo players, so that all transactions and payments can be easily tracked.

The card is available in three different currencies (GBP, USD and EUR) and for security, it is not connected to a bank account.  There is also the benefit of a free 24/7 multi lingual Global Assistance service which offers emergency cash up to available balance on the card within 24 hours.

Says Karina Bryant, who has been on the British judo team for 13 years and has competed in three Olympics to date: “I am out of the country, travelling for judo championships up to 20 times a year, so up until now, managing my expenses has been a real challenge.  I used to use credit cards so was always incurring huge amounts of interest and paying transaction fees, meaning I lost out on hundreds of pounds each year.

“Corporate Cash Passport will be such a help during the World Championships and beyond.  Gone are the days of lots of paperwork and excessive charges**.  I am really looking forward to not having to exchange large amounts of money ahead of travelling and it will also be a relief not having to carry cash on me when abroad.”

Says Ana Ansell, Travelex: “Travelex Corporate Cash Passport is the perfect solution for managing expenses incurred through business travel and has significant benefits for companies signed up to the scheme. As well as allowing businesses to manage budget control issues and centralise expenditure, they are also a safe and secure way for employees to spend whilst abroad.

“We are delighted to be able to help the British judo team manage their expenses during the World Championships and for all their travels moving forward.  The team is hugely talented, with many members expected to take part in the 2012 Olympics, so we are more than happy to free them from foreign currency worries, allowing them to concentrate on what they are best at – representing Great Britain at judo!”

To find out more about your company and Travelex Corporate Cash Passport visit:

www.cashpassport.com/corporate.

- ENDS -

For further information please contact:

Nathan.kemp@mcsaatchi.com

0207 543 4670 / 07793775485

Annabel.ward@mcsaatchi.com

0207 544 3804 / 07595 396 304

Notes to Editors:

ABOUT CORPORATE CASH PASSPORT

In the UK Corporate Cash Passport is available  in three currencies (GPB, USD and EUR) and offers a convenient and secure way to carry money abroad, make purchases or withdraw cash. See www.cashpassport.com.

Cash Passport is issued by R. Raphael and Sons plc, Albany Court Yard, 47- 48 Piccadilly, London W1J 0LR, registered no. 1288938  and administered and serviced by Travelex Card Services Limited,  65 Kingsway, London, WC2B 6TD, registered no. 5429739.

Amit Comments: It is quite interesting to see Travelex take a lead in bringing sponsorship and support via the channel of prepaid credit cards and from their renewed online campaigns, TV advertising, sponsorship right down to the advertising at ticketing barriers at Heathrow, there definitely seems to be a push on to bring prepaid credit cards into the payments mainstream.

Now, it would be wrong to pin the blame for the failure of prepaid credit cards on poor marketing given the burgeoning number of prepaid credit card programmes which have flawed value propositions, antiquated operations and legacy back end systems but the failure to launch a slick front end operation accounts for a number of programmes biting the proverbial dust.

It is interesting to note that stakeholders and decision makers that invest somewhere in the region of £60k+ in the setup of these prepaid credit card programmes shy away from making the requisite investment of even 10% in marketing and supporting the launch of these prepaid credit cards.

A few interesting conversations with regards to the launch of these prepaid credit cards include

• We have a huge third party database as well as existing customers who will surely be interested in this programme so we do not really need to do anything else
• Our programme has the same pricing structure and setup as that successful big brand prepaid credit card proposition. We cannot go wrong.
• We really do not see the card programme as a profit centre – so do not really wish to invest in the programme.
• And my personal favourite, I think we will invest in the marketing if the programme does well in the first six months.

Well in almost cases, what the programme owner is doing is setting themselves up to fail simply because the investment in supporting your programme is pivotal to the success of the programme.

Prepaid is still a growing concept, regardless of the hype created  by business stakeholders, and as a programme owner, fail to educate your database or target and results are unlikely. Unless you have amazing brand value like Facebook or Virgin Money with the weight of numbers or the strength of your network; do not count on whatever brand value you do have to take you very far. Your prepaid credit card programme may not be a profit centre but have you ensured it is not going to end up becoming a cost centre. Last but not the least, six months down the line is too late – your prepaid credit card programme needs to be geared for success from Day 1 and you should have invested in marketing and supporting your prepaid card launch 4-6 weeks in advance from that launch.

Fail to do so and you will undoubtedly find your programme join the list of prepaid credit cards and prepaid card providers in administration, closure or even worse, in a state of “unending financial coma”. Better still, it may be most cost effective to press ALT, CTRL, DEL on your prepaid card programme now!

-          Highlights prepaid credit cards as the safe, convenient way to carry currency

-          Campaign includes, outdoor, tube, online, in-store and PR support

Foreign exchange specialist, Travelex, is to launch a new ad campaign on travel money; the first above-the-line activity the currency giant has produced in over five years.

The ads, commencing on 2^nd August and promoting the Cash Passport prepaid MasterCard® currency card, centres on the ‘Avoid getting stung on holiday’ theme supported by the strap line ‘The new way to carry currency’.

The campaign is designed to drive awareness of the innovative product in the key London and South-East market, focussing on family holidaymakers and coinciding with the peak school holiday travel period.

Produced by creative agency LIDA, the ads feature a number of traditional holiday nasties such as scorpions, jellyfish and mosquitoes with fun, quirky supporting copy to highlight how the benefits of the card can ensure holidaymakers don’t get ‘stung’ when travelling.

An image of a vicious-looking scorpion is accompanied by copy noting that they are found everywhere except Antarctica, but so too are places that accept Cash Passport, highlighting the worldwide network of over 2 million locations which accept the prepaid MasterCard.

Director of Product Development & Marketing, Ana Ansell: ‘The prepaid card market is going from strength to strength at the moment meaning Cash Passport is an extremely important product for us. Year on year, we are seeing growth of over 60% in the number of units sold, but we believe there is still a huge opportunity as far as awareness goes.

This campaign allows us to drive awareness to our key audience at a peak travel period, meaning we can be top of mind as families head off on holidays. It also allows us to position the card as a travel essential, rather than just a financial service product.

‘Our key brand messages are around the safety and security, value and convenience the card provides and this campaign brings those to life in a fun and vibrant way.’

The two-week placement will see six sheet ads in high street locations across the capital and South-East with strong imagery and a simple call to action. A second version, containing more explanatory copy will be placed throughout the London Underground, where the audience has a greater dwell time to absorb messaging.

Online, the digital ads will focus on the ‘booked traveller’ by targeting Exit screens confirmation emails and weather sites.

The artwork will also feature in Travelex’s retail network of over 120 stores through the UK and a PR campaign targeting national travel, personal finance and trade press will support.

In total, the campaign aims to have over 100 million impacts in the fortnight period.

All elements of the campaign will direct traffic to a dedicated webpage, www.cashpassport.co.uk, which will also be integrated to reflect the campaign look and feel and messaging.

Ansell concludes: ‘Technology and the importance of budget control have changed the travel industry and foreign exchange in recent years. More than ever, customers are looking for clear costs and products that deliver abroad – it’s no good having a replacement card sent to your home address if you loose it on the first day of your holiday.’

Jonathan Goodman, Group Account Director, LIDA, comments: “Travelex wanted to make an immediate impact in the rapidly growing pre-pay currency card market. Our solution was to establish the brand’s Cash Passport™ as the way to avoid falling prey to holiday predators. With the help of giant scorpions we want to ensure holidaymakers don’t get stung this summer when it comes to currency.”

Travelex’s Cash Passport is available in seven currencies; Euros, US, Australian, New Zealand and Canadian Dollars, South African Rand and British Pounds, as well as the new Cash Passport Globe, a Sterling card designed for frequent travellers.

For further information please contact:

Katie.Sinclair@travelex.com

0207 895 4236/

Notes to Editors:

ABOUT CASH PASSPORT

In the UK Cash Passport is available in seven currencies including US Dollar and Euro and offers a convenient and secure way to carry money abroad, make purchases or withdraw cash without incurring annoying overseas usage charges**  www.cashpassport.com

Cash Passport is issued by R. Raphael and Sons plc, pursuant to license by MasterCard International. MasterCard® and the MasterCard® Brand Mark, are registered trademarks of MasterCard International Incorporated.

Amit Comments: I think it is definitely an exciting first within the prepaid travel market as whilst other travel and currency card providers have undertaken some good media bits in the past skirting around the edges of what can be defined as Above the Line advertising, as an integrated campaign, this certainly looks like a major step up and consumers will undoubtedly benefit. With Travelex, Fair FX, Caxton FX, Rational FX and PFS amongst others, the UK Currency Card market is looking extremely healthy indeed.

Now, this may have more to do with what I perceived to be a rather weak ending but the answer to the LOST conundrum was a resounding NO and a number of prepaid card stakeholders may feel the same about their investment in a prepaid credit cards programme.

The Prepaid Industry is Booming – or Is it?

Prepaid Card issuers, providers, manufacturers, programme managers, consultants and every Tom, Dick and Harry associated with the Prepaid Card Industry will admit that the margins within the prepaid industry are not the same as the margins within other alternative payment services sectors and by the same token, they will have to admit that the prepaid, as yet, is not the mass market phenomenon some of the industry experts would have as believe.

The arguments against the above statement will fly thick and fast from stakeholders within the industry and the oft quoted example of the million/billion Dollar Gift Card industry in the US is, quite frankly, an eye wash. Personally, I think Gift cards should not even be classed as prepaid cards but that is a discussion for another time.

Successful Prepaid Card Programmes

There are only a handful of truly successful prepaid card programmes in the UK and most of them have two things in common – a sound and stable backend platform that they operate on but more importantly, a genuine consumer or corporate need that they fulfil.

Travel Cards work because we do travel, we do like the idea of getting a better exchange rate than what we do at the airport and we do like the overall convenience of using a card. There is a well defined target audience and here is a well defined need and a product proposition that ticks all the right boxes.

Some Shopping Cards work because they do provide customers with a range of incentives to make their shopping baskets larger but their costs lower. They enable people to do more with their money.

Payday Loan Cards and Charity and Grant Disbursements on to Prepaid Cards work because these institutions may not necessarily be looking to profit from the issuance of these cards but the costs savings from using cards as opposed to postal paper cheque disbursements. The same is true for government benefits and institutional corporate cards – they work because they fulfil a definitive need as opposed to one that has been artificially created.

To Launch or not to Launch

Shakespearean perhaps but most prepaid card programmes tend to be tragedies like Hamlet as opposed to glorious renditions of A Midsummer Nights Dream.

The note of caution to most prepaid card stakeholders, if they are looking to launch a prepaid card would be to take a step back and have a rethink if your thoughts have been along the following lines:

1. I want to launch a prepaid card programme because I think it will be great! - This is not a need – Identify the need and exactly what part of your business process or consumer experience this prepaid card would improve, enhance or replace.
2. If I launch a prepaid card programme which is similar or the same as the leading prepaid card programme in the market, it is sure to work! – Sorry – dead end – make the effort to understand your customer base and develop the proposition for your customers. Remember, you should not have to feel the need of forcing this proposition on to your customers.
3. There’s 2-3 really well known providers and they have won a few awards for some of their programmes – Let’s just pick one of them and run with this. Take a deep breath and take a step backwards. Do the research – choosing one prepaid provider over another can make or break your idea even before you launch. I know programmes where you could not change the PIN of your card because the platform would not allow it and the company had issued less than 300 cards and still scooped 3 different awards for a proposition which was a massive failure.
4. Everyone’s doing it and they are all talking about making money and cost reductions and lots of other benefits – lets go for it. Yes, prepaid has the potential but you need to identify what part of your business will change with the introduction of a prepaid card scheme.
5. The margins in prepaid are slim and I have already invested a fair bit in BIN sponsorship, with the scheme manager, with the programme manager, the card manufacturer, hiring new resource internally, etc etc. Let’s launch and then see how it goes before making further investment. – Right, you have just set yourself up to fail. You need to invest beyond the horizon at the outset and then pull things back and review if things do not all go to plan. If you have been prepared to invest in building a prepaid card programme, make sure you invest in marketing it beyond the launch. Anything else would be akin to pulling hamstring just before kick off and we can’t really have that in a World Cup year!!

It is important to identify the need, develop a proposition that services that need and then to find a backend provider that will provide a stable platform of services to support the proposition technically and a prepaid marketing team that will ensure that your programme is set up to succeed in all the right channels from day one as opposed to 6 expensive months down the line.

The bottom line is that Prepaid does not suffer Fools. The industry and margins to not allow expensive mistakes and there are enough dead and buried prepaid card programmes as a reminder of that.

I only wish it were this easy to decipher the last episode of LOST!

Obtaining a prepaid credit card is a fairly simple process and once you have your card, you can deposit funds into your card account. When making a purchase using your card, your account gets debited by the amount you spend as would be the case with using a normal debit card attached to a bank account.

Prepaid Credit Cards with Extra Features

To prevent you from overspending and building credit debts, some prepaid credit cards are equipped with credit limit feature which puts a limit on your expenditure which is 40-50 % of the total amount present in your account. This is typically the case with prepaid cards issued in the United States but some providers in the UK are now starting to introduce this functionality as well.

Apart from the benefit to the user, this approach is also useful for the card provider as they do not have to worry about the recovery process of this money as the money actually belongs to you – the end user.

Additional Benefits of Prepaid Cards

Prepaid credit cards provide help users manage their accounts and finances better thereby providing better overall financial stability and helping them maintain good credit history and improving their financial status. They are pretty easy to get as compare to credit cards which usually require the applicant to fill in lengthy and often complex forms which ultimately lead to a rejected application. Of course, whether it is credit improvement facility via a prepaid credit card or monthly payments on a credit card, missing a payment is not recommended as your credit history can be adversely affected.

Prepaid cards are a very good option for teenagers as well as there is no credit risk involved and no checking of credit history is required in the process. Whatever your need or want, prepaid credit cards are an excellent alternative to conventional credit cards and reward cards.

Some of the best prepaid card programmes in the UK which provide an excellent alternative to credit cards and bank accounts for everyday use are listed below.

• Kalixa Prepaid Card
• Freedom Prepaid Card
• Cashplus Prepaid Card
• Prepaid Financial Services

To find out more and review and compare prepaid cards in the UK, visit Prepaid365 at www.prepaid365.com

It never hurts to be well prepared and of course, as every seasoned traveller knows, the longer you give yourself, the less expensive and chaotic it is likely to be to have that perfect vacation unless of course, you are booked with British Airways and they decide to go on strike!

So where do you start when planning your trip. Most people follow the well treaded path being

• Choose Destination
• Book Hotels
• Book Tickets & Travel Insurance
• Ensure Passport’s and Visa’s are upt to date
• Book Transport to and from the Airport
• Leave your worries behind ……followed by
• Mad dash for expensive travel money at the Airport kiosk
  

Well, traveller cheque usage is dropping and your bank is never going to give you an exchange rate worth talking about on foreign currency so inevitably you find yourself putting off the travel currency decision until it is too late to do anything but end up getting the least amount of spend money with terrible exchange rates at the Airport.

However, if you are one of those savvy travellers who are looking to save 8-10 % on currency, you need to consider a travel money prepaid card or a currency card. Typically available in Euros, Dollars and Sterling, currency cards have some excellent benefits which are worth considering

1. Typically Free to Get
2. Your FX rates are 8-10% better than the market which means you actually have more spend money and your money goes further
3. Currency Cards are MasterCard or Visa branded so can be used all around the world
4. Your Prepaid Travel card is usually not linked to your bank account which means your exposure to fraud is limited
5. Cards are Chip and PIN protected just like regular credit or debit cards – so no difference on the security aspect
6. You can only spend what is on the cards – so you cannot overspend on impulse purchases

Some of the best options available in the market are listed below. Choose the one that suits you best and enjoy your holiday.

For a full listing of prepaid credit card providers in the UK, review and compare prepaid travel cards at Prepaid365.

Aptly named as Launch, the service is designed for companies looking to launch a new prepaid card into what is best defined as a congested UK market.

Launch aims to provide companies with the stepping stones to ensure that their programme does not get lost and the core value proposition is clear to consumers. Launch follows the AIDA framework in ensuring that consumers are Aware of the programme, develop an Interest in it, and have a Desire to undertake some Action with the product.

Services provided under Launch include

• Optimisation: Site Audit and Site Optimisation recommendations
• Pay Per Click Setup: Keyword Research & Setup of Google Adwords Campaign
• Affiliate Network Setup: Affiliate Network Recommendations and Discussions and Setup with Affiliate Network(s)
• Prepaid365 Setup: Setup on the UK’s leading Prepaid Card Comparison site – Prepaid365
• Recruit Top Affiliates: Setup on other Prepaid Card Aggregator sites
• Social Media: Recommendations and Creation of Social Media Pages (Facebook, Twitter, etc)
• Online PR: Press Release Creation and Distribution to announce launch.
• Article Marketing: Creation of a buzz around the programme and launch.

Amit Sharma, CEO and Prepaid Consultant at Emotion Associates, commented “we have designed the Launch service precisely with the aim of making the process of launching a prepaid card as smooth as possible and ensuring that these new programmes are geared towards success from day one. It is not uncommon to see new programmes suffer from lack of traction in the first 3 months and worried stakeholders start hitting the panic button as they have more often than not made a significant investment in the prepaid business case. Our service is aimed at ensuring that does not happen as we typically start working with companies 6-8 weeks prior to their programme launch and continue to support them beyond the actual launch of their programme”.

In addition to the services provided under Launch, Emotion Associates also provide other comprehensive support services to prepaid card providers with their Assist, Support and SupportPlus packages.

Visit http://www.prepaid-marketing.co.uk to find out more.

For further information, please contact:

• Emotion Associates Limited

Emotion Associates Limited was set up by Amit Sharma, a prepaid industry expert and marketing consultant. Having worked with market leading prepaid card providers in the UK, Amit has over 5 years of prepaid industry experience and he shares his knowledge and experience through Emotion Associates, Prepaid365, Prepaid Card Forums on LinkedIn, and his Prepaid Marketing blog.

Emotion Associates have quickly established themselves as the leading marketing consultancy within the prepaid card sector and Prepaid365 is recognised as one of the UK’s leading prepaid card comparison site providing reviews and comparisons of prepaid credit cards for businesses and consumers in the UK.

Prepaid Marketing and Prepaid365 are trading names of Emotion Associates Limited – UK Registration Number: 06964513

For further information, please contact:

• Email: amit@prepaid-marketing.co.uk
• Prepaid365 Website: http://www.prepaid365.com
• Prepaid Marketing: http://www.prepaid-marketing.co.uk
• Amit@LinkedIn: http://uk.linkedin.com/in/amitsharmauk

• 2 for 1 vouchers at the UK’s top Attractions
• Opportunity to win 1 of 5 family holidays to Gardaland
• Opportunity to win 1 of 200 Family Day Passes to Top attractions
• 50% off at Alton Towers Resort Hotels as well as
• Some gourmet Getaways to Paris.

All worth blabbing about for sure!!

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In terms of travel money cards or currency cards, it doesn’t get much better than having a card which is

• Free to Get
• Free to Load and
• Free to Use

Whilst most prepaid travel money cards in the market are now Free to Get, Load and Use at retail merchants and online, they do tend to charge a small fee for ATM withdrawals typically in the region of €1.50 or $2.00 in a Euro and Dollar card respectively. There are some which also provide ATM withdrawals for free which is great but typically what happens is that when these providers introduce ‘No ATM fees’, they also tend to move their foreign exchange spread, meaning that whilst you as a consumer may have gained on the ATM fees, you would have actually lost out on the currency exchange rates offered.

So as an example, lets compare a Prepaid travel money Card with a fixed withdrawal fee with another currency card which offers free ATM withdrawals along the following scenario

• John goes on Holiday with Sue and loads a £1000 on to his Euro card and another £1000 on to Sue’s Dollar Prepaid Card.
• They both make 2 x cash withdrawals on their trip
• The remainder of the card balance spend via direct purchases apart from £100 which is left at the end of the holiday
• £100 leftover cash withdrawn from a UK ATM at the end of their holiday

So how did Johns Euro Card Compare. Lets find out with the help of the table below

Its quite clear at the end of the day that even with free ATM withdrawals, there is lesser value on Card B as compared to John’s Card. Now lets see how Sue got on with her dollar prepaid card.

Once again, even with free ATM withdrawals, Card B is actually more expensive to use for consumers than Sue’s card which has fixed fee withdrawals. The bottom line is that you need to choose your card based on your intended usage. Currency cards with Free ATM are an excellent initiative for long term trips but currency cards with fixed ATM fees and much superior FX rates are definitely much better for short term trips and business travel.

So it is quite important to look at the true cost of these free ATM withdrawals. Choose wisely to make your money travel further this Summer!

Earlier in the year, I had suggested that travellers should definitely look to avail the benefits of Prepaid Travel Cards on their trips and get one of the leading prepaid travel cards in the market from one of the following three providers, who provide the best exchange rates in the UK market.

• Rational FX Prepaid EURO & USD Cards – http://www.rationaltravelmoneycard.com
• Fair FX Prepaid EURO, USD and GBP Cards – http://www.fairfx.com/travelcard
• Caxton FX Prepaid EURO, USD and GBP Cards – http://www.caxtonfxcard.com

The exchange rates on the first two are definitely better but all three are excellent products.

However, none of these three providers have a ZAR card option – so you are restricted to getting either a GBP, EURO or USD Prepaid Travel Card.

The smart alternative is to consider  a Prepaid RAND MasterCard card from Prepaid Financial Services. I believe it is the first RAND prepaid MasterCard to be launched in the UK and this has obvious benefits as advised on the PFS site but the main advantage according to me is that you can get the PFS Rand Card and then monitor exchange rates and on a particular day when the exchange rate is brilliant, you transfer your £2k or so onto your card and that is your holiday money sorted at the best exchange rate possible.

So if you are travelling to South Africa, a South African Prepaid MasterCard in Rands in your wallet is definitely a great idea!!

The Neon and Escape Prepaid MasterCard card’s were launched by Phones4u in August 2009. The Neon card has been developed specifically with 13 to 18 year old consumers in mind and the Escape Prepaid Card is targeted towards ethnic minorities and lower socio-economic communities.

Paul Smith, Managing Director of EZ Pay Limited was delighted to hear the results from thePrepaid365 awards.

Paul said “Although we’re a relative newcomer to the prepaid market, our outstanding success to date shows that we’ve really hit the nail on the head when it comes to products that are focussed on the customer. As part of the Phones4u group we’re continuing their customer centric focus and are now the champions of the best deal for the consumer. At last it’s no longer about choosing the least expensive option where all the providers have high fees and ongoing charges. We’re the best overall value on the market, and we intend to keep things this way. We’re able to deliver a level of access and flexibility unavailable elsewhere. As such both Escape and Neon are able to offer the most exciting and financially beneficial packages with very low charges and some great cashback deals. Winning the Prepaid365 awards continues the recognition we’re achieving and is a great way to be starting 2010”.

Amit Sharma, CEO, Prepaid365 and founder of leading prepaid comparison site Prepaid365 and the Prepaid365 Awards stated that “The prepaid card market in the UK is growing rapidly and that growth is driving greater competition and better value for consumers. The Neon Prepaid Card is an example of that ‘better value’ and is a worthy winner of the best youth product as it provides some excellent incentives to drive usage along with the providing parents the ability to monitor their child’s spending and educating them on fiscal responsibly and budgeting. Consumers are in for a real treat.”

The Escape and Neon Prepaid Cards are available for purchase at Phones4u stores across the UK and can also be purchased online at www.escape-prepaid-card.com and www.neon-prepaid-card.com , respectively.

The two O2 Prepaid Visa cards, Cash Manager and Load & Go, are fee-free when used in the UK. Cash Manager is aimed at those who need to carefully manage their money, balancing their outgoings of rent, mortgage and bills with their disposable spending money whereas the Load & Go prepaid card is aimed at younger people, aged 13 and above, to provide them with the benefits of a Visa card in a controlled, safe environment.

Fraser Campbell, Head of O2 Money, comments “We launched O2 money with the intention of bringing a fresh approach to money management, so we’re delighted to receive this recognition from the Prepaid365 Prepaid Card Awards”.

Amit Sharma, CEO at Prepaid365 and founder of the Prepaid365 Prepaid card Awards commented that “consumers voted with their hands, their feet and with their pockets driving usage on O2 Prepaid cards and O2 was the winner by a country mile in the best newcomer category for 2009-2010. Given that the O2 Prepaid cards were runners up in the Best General Spend Prepaid Card category by a whisker behind a product which has been around for 5 years and issued 400,000 odd cards, shows you exactly how far the O2 Prepaid cards have travelled in consumer perceptions since launch in July last year”

The O2 Cash Manager Prepaid card has already earned the tag of the “People’s Champion” as it is available absolutely free of charge to O2 customers. It is free to get, free to load, free to use in the UK and free to withdraw cash at ATM’s too.

O2 is the first mobile provider to enter the UK personal finance market. Find out more about O2 Prepaid cards at www.o2.co.uk/money

Widely recognised as one of the most innovative and respected prepaid card providers, there was further success and recognition on the night for APS in the “Best Large Business Prepaid Card Provider” and “Best Small Business Prepaid Card Provider” categories.

Rich Wagner, Chief Executive Officer, APS and leading prepaid industry visionary commented that “At APS we are honoured that prepaid365 has recognised cashplus for a second year in a row in the Best General Purpose category and now Best Internet Shopping Prepaid card.  We continue to strive to make our product not only better than other prepaid cards but better than banking accounts you can get on the high street. After 5 years of delivering superior products and services to our customers, we appreciate the accolades that prepaid365 have given APS, but we will not become complacent as a result. We look to deliver many new innovations this coming year to support our loyal and growing customer base.  These upcoming capabilities are what customers and in fact the industry has come to expect from APS and the cashplus brand.”

Amit Sharma, CEO, Emotion Associates and founder of prepaid comparison site Prepaid365 and the Prepaid365 Awards mentioned “the multiple award wins for Cashplus are definitely no surprise to us. I have been at the heart of the prepaid credit card industry for the last 5 years and the names Cashplus and Rich Wagner have been at the forefront of that industry. With over 400,000 prepaid credit cards issued and £450 million odd loaded onto those Cashplus cards, the Cashplus proposition has already been endorsed by those who matter most – consumers!”

A Chip and PIN Gold prepaid MasterCard®, the Cashplus card is the only gold prepaid card available in the market and can be used to over 29 million retailers online, instore and over the phone that accept MasterCard® in addition to making withdrawals at over 1.5 million ATM’s worldwide. With features such as creditbuilder, free purchase protection and five different pricing tariffs to suit every palette, the Cashplus Gold Prepaid MasterCard is undoubtedly the first choice for consumers.

In the second edition of the awards, subject matter experts at Prepaid365 spent the last three months researching and reviewing 100’s of prepaid cards including Prepaid MasterCard and Prepaid Visa cards across the UK with the help of consumers.

Divya Sharma, Marketing and PR director at Prepaid365 commented “The process has been exhausting and exhilarating in equal measure. The Prepaid365 Prepaid Card Awards are not about industry recognition but rather about consumer recognition focussing on consumer perceptions around what they desire with a prepaid card programme and provider. We have followed on from the grand launch of the July 2009 awards in rewarding and recognising high quality prepaid card propositions – based on consumer opinions around acquisition, usage and rewards.”

Winners on the night included

• Best General Purpose Prepaid Card                           – Cashplus Gold Prepaid Card
• Best Travel Money Prepaid Card                                – Rational FX Prepaid Card & Caxton FX
• Best Money Transfer Prepaid Card                            – Payzone Worldwide Money Prepaid Card
• Best Gaming Prepaid Card                                          – Neteller Prepaid Card
• Best Payroll and Expenses Prepaid Card                   – White Eagle Prepaid Card
• Best Privacy and Anonymity Prepaid Card               – Splash Prepaid Card
• Best Youth Prepaid Card                                             – Neon Prepaid Card
• Best Prepaid Gift Card                                                  – BabeeCard Prepaid Card
• Best Internet Shopping Prepaid Card                       – Cashplus Prepaid Card
• Best Unbanked Prepaid Card                                      – ClearCash Prepaid Card
• Best Large Business Prepaid Card Provider              – TSYS
• Best Small Business Prepaid Card Provider              - Prepaid Financial Services
• Best Closed Loop Gift Card Provider                          – PrePay Solutions (Accor & MasterCard)
• Best Newcomer 2009-10                                             – O2 Prepaid Card

Rich Wagner, CEO, Advanced Payment Solutions stated that “APS and the entire Prepaid industry appreciate the work that Prepaid365 are doing as they play a vital role in the success of the prepaid industry.  Raising awareness within this industry and most importantly raising awareness to the all important consumer is paramount to the success of APS and those that work within the industry.   By building awareness via these awards and via Prepaid365’s own comparison website,   Prepaid365 are enabling potential clients by indentifying top performing companies like APS while also providing valuable product comparison for customers to make informed decisions about the best prepaid card solution for them. APS certainly applaud and support the work they do.”

Warren Hardy, Founder & CEO of White Eagle commented, “Prepaid365’s industry expertise and dedicated comparison site which offers consumers valuable information about the cards on offer within the prepaid marketplace makes them an ideal resource to list the White Eagle card programme. “

Amit Sharma, CEO at Prepaid365 and founder of the Prepaid365 Prepaid card Awards commented that “The Prepaid card industry has evolved rapidly and the last 12-18 months has seen consumer awareness and knowledge grow rapidly too. With over a 100 prepaid card products in the market, consumers now have a lot of choice and the pressure on prepaid card providers to provide a better value proposition is greater than ever before.

Those who do have ultimately stood out and have been recognised by consumers and the awards bear testimony to that. Prepaid Card providers need to recognise that consumers are smart and savvy and providing them with the same stock standard prepaid card proposition is no longer enough. It is time for the original innovators to innovate again.”

Prepaid365 is the UK’s leading prepaid card comparison site providing reviews and comparisons of prepaid credit cards for businesses and consumers in the UK and a comprehensive FAQ section. Review and compare cards for Money Transfer, Travel, Gaming, Shopping, Payroll and Expense management, Privacy, Gifting and Business.

For further information, please contact:

• Prepaid365 – The Prepaid Card Comparison Portal

Prepaid365 was set up in 2008 as an aggregator site providing comparisons and reviews of prepaid cards in the UK by Amit Sharma, a prepaid industry expert and marketing consultant.

Having worked with market leading prepaid card providers in the UK, Amit has over 5 years of prepaid industry experience and he shares his knowledge and experience through Prepaid365, Prepaid Card Forums on LinkedIn, and his blog.

Over the last 12 months, Prepaid365 have quickly established themselves as one of the UK’s leading prepaid card comparison site providing reviews and comparisons of prepaid credit cards for businesses and consumers in the UK along with a comprehensive FAQ section.

Prepaid365 is a trading name of Emotion Associates Limited – UK Registration Number: 06964513

For further information, please contact:

• Email: press@prepaid365.com
• Prepaid365 Website: http://www.prepaid365.com
• Amit’s Blog: http://www.prepaid-marketing.co.uk
• Amit@LinkedIn: http://uk.linkedin.com/in/amitsharmauk

http://www.prepaid365.com/free-prepaid-debit-card.html

The O2 prepaid cards are free but available to O2 customers only so the MasterCard options are a pretty good idea too!

In the second edition of these prestigious web awards, subject matter experts at Prepaid365 in conjunction with consumers and real users have been researching and reviewing prepaid cards across the UK over the last month or so already with the aim of finding the best prepaid cards in different categories such as Money Transfer, Travel, Payroll, Gaming, General Spend, Online Shopping and Youth. There is a new international category in place in the second edition of the awards and this will be extended even further next year.

Divya Sharma, Senior Researcher at Prepaid365, stated “The awards were a qualified success in July earlier this year and achieved their objective of recognising high quality prepaid card propositions – based on consumer opinions around acquisition, usage and rewards. This is not a bunch of corporate heads sitting around a round table and handing out industry awards but consumer awards which focus on the consumer perceptions around what they desire with a prepaid card.”

The aim is to demystify prepaid cards from the consumer perspective and hand out the awards on merit, completely free from any commercial bias.

Some of the big winners in the first edition of the July 2009 Prepaid365 Prepaid Card awards were CashPlus, Splash, Caxton FX, White Eagle, Neteller, Eclipse, BaBeeCard, First Data and Prepaid Financial Services. It would be interesting to see if the frontrunner’s from last time can stay on their lofty perch this time around.

Call for Last Minute Entries
Have you got a prepaid card programme that has been recently launched or has only been launched with minimal publicity or one that you think may have simply slipped under the radar. Well, drop everything you are doing right now and send us details of your programme

Download the Entry Form

• Word Format
• PDF Format

Fill it in and send it across to info@prepaid365.com before 17.01.09 and your programme could be a winner when the awards are announced in the 3rd week of January 2010.

NO, NOT REALLY-  the Phones4u Neon and Escape prepaid cards are undoubtedly good value but you’d be downright silly to think that a 2% discount on your home mortgage with a prepaid card purchase was actually possible!

Here, in the land where the price of loyalty at your local supermarket is a measly 5p off the Price of Petrol, this was always going to be an obvious stretch. So no, the above statement is NOT TRUE and you cannot get a 2% discount on your home mortgage with the Phones4u prepaid card.

Taking a couple of steps backwards, we got the Escape and Neon Prepaid cards from Phones4u to review over the weekend and we decided we would use them and abuse them and post a review or two. After all, they were kind enough to send us a couple of cards to test.

So test we did and they worked fine. Now if you would rather ignore our thoughts – thats fine and you can find out more about these cards yourself by visiting their websites

• Escape Prepaid MasterCard Website
• Neon Prepaid MasterCard Website

On the other hand, you can have some fun and read on about our testing….

• The MasterCard badge universally acceptable – we didn’t traverse the universe…. but they worked just fine in London, Nottingham and Brighton, too.
• We used them at the supermarket, at the Airport and failed to use them at the parking lot.
• We tried to withdraw more than we had on the card and we could NOT – yippee (i think)
• We loaded some money, took some off, played with the account management tools and they all worked fine too.

And as we moved on from one bit of prepaid card testing to the next bit and the next, it started to become rather obvious that the card worked like it said and was supposed to but then so does my O2 Prepaid card, my CashPlus Prepaid Card, my Rational FX Prepaid Card, my Splash Prepaid card, my BaBeeCard and my PFS Prepaid Card.

The point is that the Prepaid Card Industry seems to have finally overcome, what I can only call as the, technology and network hurdle. I have seen enough prepaid card programmes where customers

• cannot activate their card,
• load their card,
• use their card,
• check their balances,
• change their PIN numbers or
• something or the other which we all find really easy to do with our credit or debit cards.

Prepaid Card providers in the past have hidden behind various excuses such as the networks, schemes, the banks, the back end provider, etc at one time or the other to advise  “I am sorry – they are the ones who screwed up”.

I would take a bold step that the prepaid card industry does finally seem to have overcome this hurdle and also that if you are a customer and your card still has any of the problems above – move to a different provider now!! No one should really be screwing up anymore.

Now it is natural to ask what then differentiates one Prepaid Card from another and the answer would be the benefits or perceived benefits associated with the card. Fee’s will always matter. The O2 Prepaid Card is free but only available to O2 Customers – no wonder the take up has been impressive whereas the CashPlus or Splash cards are not free but they have market history and credibility. The BaBeeCard has discounts for mums and families – significant one. It is also worth looking at the prepaid card provider behind the programme to find one that is credible and stable.

So – what’s special about the Escape Prepaid MasterCard and the Neon Prepaid MasterCard

• First and foremost, the cards belong in the category of prepaid cards that do work well and will NOT give the user any problems. The biggest issue we faced was getting the card a day later than we expected.
• Secondly, the card designs are great – especially the Neon card – very funky, very groovy and very today and tomorrow.
• The cards come with online cashback of up to 20% through usage which means that you can offset most fees through cashback discounts
• You can top up your PAYG mobile phone using your prepaid cards which is just super convenient

There are other benefits too like being able to get the Neon card if you are over 13, using the Escape card to share money and so on and so forth and the cards are really good value for consumers.

The prepaid card industry has grown up in one regard and the Escape and Neon Prepaid MasterCard cards are two prepaid cards that definitely fit the bill of “new age prepaid cards” where everything works as it should and that in itself is worth the application fee.

Everything else is a bonus and NO, there is no discount on your mortgage to be availed – so give it a rest!

Full reviews may be posted on the Prepaid365 Prepaid Card comparison portal.

Whilst this is undoubtedly true for all businesses and all ventures in life, it would be fair to say that this is especially true within the Prepaid Debit Card Industry as budgets tend to be slimmer than most but planning is just the first step because if your measuring and monitoring aren’t up to scratch, you may find your programme struggling sooner rather than later.

In fact, if you are the Prepaid Card Programme Manager or part of the Marketing Analytics Team that has been tasked with monitoring and measuring the success (…erm or otherwise) of your Prepaid Card Programme, then there are a few things you definitely need to be measuring to avoid making that trip to the Job Centre…

Measure What, You say?

Well, the top line elements to look at would be as follows

• Sales
• Loads
• Spend
• Withdrawals

With all of the above, dig deep into the data and establish how you are doing

• Daily, weekly, monthly, quarterly, annually, average and
• Split figures by gender, age, nationality, customer location, application location, application method, currency, spend location, spend type, spend category and
• Look at frequency, recency, volume and value

and when you have answers to all of the above, dig even deeper and establish things like

• Account holders with more than one card
• Average card life cycle
• Viral factors
• Average application to activation time
• Customer complaints – cause, frequency and solutions

All programmes have the potential to be successful if you are able to establish what works and what doesn’t. Change the items that fall into the “What doesn’t” category and make steady improvements to “What works” and you should have a programme that works well for you. Failing to monitor and respond is possibly a bigger sin than failing to plan.

If you would like a detailed copy of our “Best Practice Reporting Requirements” document, drop us an email and we will email a copy back to you.

So much so, that I have been quite happy using my iPhone for all my consultancy work as well and have been pretty happy with it. So it was a bit of a shock to the system when my iPhone suddenly lost WiFi connectivity and typical battery life dropped down to 30-40 minutes  at best. Given that this happened just after I had upgraded to the latest iPhone software, I was very upset indeed with the guys at Apple. The warranty on my machine had expired less than 2 months back which upset me even more that the iPhone had fallen apart just after the warranty had expired and I was certainly not going to let Apple get away with it.

I called my network provider, O2, who I love to bits and they were helpful but also tried to get me to sign onto a new 18 month contract with the promise of a free replacement. No thanks.

I booked my appointment to see an “Apple Genius” (as they are called) at the Apple store and made my way to the store. On the way, whilst talking to a client, my fully charged phone died after 7 minutes and now, I was seething and literally walked into the Apple store – spitting fire and venom.

The time was 12.55pm on Friday afternoon – Friday the 13th, so horror was very much on the cards. However, I also walked out of the Apple store less than 30 minutes later at 13.20pm, with a song in my heart and the firm belief that the guys at Apple should be running the world.

Why?

Well, it’s quite simple. I walked in and waited in line to be seen. A rather cool “Apple Genius” made me wait 15 minutes and then asked me what the problem was. I told him what I thought it was and what specific issues I was having. He shone a strange blue light around the orifices of the iPhone and quickly declared “Sorry buddy, Water Damage”.

Right there and then, all my anger and venom was dispelled and the first thing I thought was “Merde – no more shaving whilst talking on my phone”. It wasn’t the update to the new OS which had failed me but rather my habit of shaving whilst talking on the phone. Anyway, the guy then checked my phone’s status and said – “Hmm, just out of warranty as well, huh? Do you have insurance”

I did and said so and was thinking of what I had to do next. Bank and their insurance products can be quite painful to claim on as they require all sorts of details to be sent in short time frames and from experience, they are just waiting to turn down a claim based on some technicality (a bitter episode with my Nokia N95 but that is a different story).

Whilst I was thinking about this, the guy smiles and then says to me “I am going to do you a favour as long as you promise me that you will do someone else in need a favour”. Now before you (and I) start thinking that this was some lewd proposition, the guy disappeared behind the counter and emerged holding a brand new iPhone.

No fuss, he simply unwrapped it, removed my SIM card from the old phone, put it in to the new phone and handed it back to me. He switched on my old phone and quickly reset all the settings to ensure that there was no data or info, got me to sign a couple of sheets of paper and in a jiffy, I was out the door gushing and smiling like I had been the day I had bought the iPhone for the first time.

I called a couple of friends and told them about this and expect they probably told a couple of other mates too and now, I sit here blogging about this wonderful experience. Isn’t this how customer service should be all the time?

Why Can’t the Prepaid Card Industry deliver similar Customer Service Experiences

Having worked within the prepaid industry long enough, I’d say that the “low margins” within prepaid, more often than not, mean that this sort of customer service experience would not be typical in the prepaid card industry. A couple of prepaid card providers like the CashPlus Prepaid Card, the O2 Prepaid Card and the Freedom Eagle Prepaid card have won awards and industry recognition for excellent customer service but on a whole, the industry suffers from poor customer service.

As a prepaid card holder, the chances are that, if you report your card lost, stolen or damaged or ask to close your account or ask for some investigation on your account, you are going to typically be charged a fee and have a poor experience. Customers have typically complained about being

• unable to change their PIN’s,
• having not received their Card,
• having not been able to use their card,
• not being able to load their card online and
• about not having received a response even 3-4 days from their query
• about customer service not being able to help them
• about customer service not being aware of their card (when call centre resource is outsourced)
• about even having the wrong number on the card to call customer services

and in most cases, those complaints tend to generate an unsatisfactory response from the prepaid card providers. Add to that, overall customer dissatisfaction around the issue of prepaid card fees (except with travel cards perhaps) and you have an industry which is struggling to establish itself in the payment services mainstream.

Once in a while, a firm does come along and try to change things but they quickly revert to type if things become a bit tough.

For me, with my iPhone experience and the £0.59 fee that I pay for most iPhone applications (which has contributed tremendously to legal downloads across the UK), I’d say why not just hand the reins of the prepaid card industry to Apple Inc. We would definitely get a customer experience that is truly out of this world and I bet, they would solve the issue around prepaid card fees as well.

Actually, while we are at it, lets get them to look at Global Warming, the Polar Ice Caps and the War on Terror, too!!

Last week, whilst developing some new functionality, we starting attaching parameters to the prepaid cards on the site like Open Loop vs Closed Loop, MasterCard, Visa or Maestro, Re-loadable or Non-Re-loadable, etc. We ended up with over 200 different parameters and properties which could be used to define the nature, category, issuance, reloading and usage of prepaid cards.

Exhausted as we were, the discussion over category was rather interesting as we mulled over how many different tags we wanted to use for category. Most prepaid professionals would argue that the main categories would be

• General Spend
• Travel
• Money Transfer/ Money Share
• Gifting (Retail and other)
• Youth
• Payroll & Expenses
• Unbanked
• Gaming
• Governance (Charity, Benefits, etc)
• Internet Shopping

and within these it is probably Travel, Money Transfer and General Spend which can confidently claim to have laid a foundation for success other than retail closed loop gifting of course, which has been around forever.

The question to consider when thinking about prepaid cards and their numerous categories, successful or unsuccessful, is – “Isn’t a prepaid card just a prepaid card – something which needs to be loaded with funds, before those funds can be used?“. Some experts have defined prepaid cards as a “Pay Before” payment mechanism – you pay before you actually make any transactions that warrant that payment similar to Credit Cards being “Pay Later” and Debit Cards being “Pay Now”….

Isn’t it rather the case that the a prepaid card is just a prepaid card irrespective of category and the category evolves simply by how the consumer chooses to use the prepaid card.

A “youth card” (defined as it was bought by someone below the age of 18) could just as easily be an “anonymity card” because the consumer wanted to be anonymous in their online purchases (which means it is now an Internet shopping card) rather than the “budgeting card” which mum had wanted it to be when she bought it as a “gift card” for the youth in question. Given the various purchases made by this individual, this is not different in any way from a “general spend” or “everyday money” card (which it would have been categorized as had the individual been above 18) and could easily be a “travel card” were the consumer to use it abroad.

I could go on and on and pretty much describe the card in any way that allows me to assign a new category to it. So in that sense – aren’t all cards essentially the same?

Instead of labelling prepaid cards and tagging them into categories, should we not simply be investing the time in educating the consumer with regards to how prepaid cards work and how they can be used and with clarity on fees and restrictions, leave it to the consumer to decide how they want to use their card and hence, let them define the card category.

I think this is essential for prepaid card marketer’s to understand and grasp. A prepaid card is nothing more than a device that allows payment access.

Our role, as marketers, is to educate the consumer with regards to how they can use the product and then simply let them get on with it.

There is a reason why prepaid cards like Rational FX and Caxton FX work. It is the same reason why the BaBeeCard and its owners were selling cards and winning awards, even when it was priced £5 higher than other prepaid cards and the same reason why O2 Prepaid Cards are selling like hot cakes where other free prepaid cards have failed to gain traction in the past!

Consumers are smart, they will figure out the best use of their prepaid card in most cases. A Prepaid Card to them, by another name, is simply just a Prepaid Card!

Whilst this is especially true for retailers, it does not mean that non retailers should ignore the need to give their websites and web presence the extra oomph over Christmas.

There are a fair few things which webmasters should really have a think about but my top five things to do would include

1. Nothing technical about this one – just ensure you have a Christmas Theme to start with  – nothing like having Santa and a few Reindeer’s prancing around
2. Make sure that the major search engines – Google, Bing and Yahoo – are indexing your site and returning your site in the search results. Make sure that you have your Title and Meta Description nice and proper – if not, the Search Engine may return something nonsensical in the snippet in the search results which may impact click throughs negatively.
3. Check your site links (in Google) and ensure that the site links showing are the ones that you want and make sure the destination pages actually work and will not take consumers to pages that no longer exist.
4. Enhance your site presence. Make sure you maintain a presence in the blogs, forums and social networks and have enough consumers talking about you and your products online (hopefully the majority of those would be positive interactions). Nothing like online word of mouth to help your site over Christmas.
5. Last but not the least, go the extra mile for consumers this Christmas and they will surely appreciate that. Make sure that the delivery of your products and services is not affected by the ongoing postal strikes and if they are going to be affected, let consumers know how they can make sure they are not affected by those delays. Web retailers, big and small, are offering half price or free courier delivery as an alternative, or at least requesting consumers to order well in advance.

Get started now and you just about might make it through Christmas!!

It was a Sikh wedding reception and a truly memorable one. The family in question had come over from Afghanistan and had a fairly significant “Pushto/Afghani” influence which made it even more interesting as you do not typically expect listen to Afghan music at a Sikh wedding reception. In fact, prior to the wedding reception invite, I was ignorant of the fact that there were any Sikhs with such Afghan influences in the first place.

Anyway, I was enchanted enough to ask the couple sitting across where I could listen to this sort of melody and lo and behold, I was introduced to Virtual Afghans – the web and its resources never fail to amaze!!.

Whilst I surveyed the magnificent hall and took in the wonderful music and dance, I started thinking about the costs of using such a venue and the costs of catering involved. Did I mention that the food was simply amazing too…?

Anyway, back to the costs – and I started thinking that typically catering at these places is “by the plate” – so instead of counting the guests or the seats, the caterers would rack up the plates and count how many had been used and bill the client accordingly. A rather expensive affair when guests start using more than one plate for a piece of cake or simply because the the last plate was dirty.

It was obvious that some guests were using 3-4 different plates and by the end of the night, the organiser would be paying 3-4 times more than the actual dues for the number of guests served.

This is also the point where I discovered my unhealthy obsession with prepaid cards as I started thinking about how prepaid cards could have been used to solve this issue. Would it have made sense to provide all guests at the wedding with a prepaid card – perhaps a Contactless prepaid card for usage at the bar or the buffet?

So the organiser could have paid by the number of cards issued and not by the number of plates issued. Cards would only be valid on the day or perhaps only in the 3-4 time slot for the event…but then would people simply lose their card and go ask for another one and then the card count would start building up in the same fashion as the plate count. Hmm…not very useful then.

I could probably come  up with a couple of solutions but they all seem to take away from the “hospitality” of the situation.

However, that does not necessarily have to be the case when a business event or conference is being held. Business visitors may be more receptive to the idea of scanning a contactless card to get access to a plate or a drink, of being asked to hold on to their card for catering and access or even to have one of those wristbands which can be scanned.

That said, it’s funny that I have never yet been to a prepaid card event or conference where the organiser has used prepaid cards to manage the events. There have been numerous where prepaid cards have been handed out with funds loaded on them to test them, test contactless functionality, etc or simply as a promotion but yet to see event organisers use prepaid cards as a means of controlling access or catering or any other aspect.

Would actual usage of prepaid cards at the event itself not be the best form of promotion instead of talking for hours on stage about prepaid cards coming of age?

I have always felt that the “proof the pudding, is in the eating”. What do you think?

I, for one, strongly disagree have strong reservations about this statement!

Having been at the forefront of prepaid development with a number of prepaid card providers, I think, the market is still barely past its infancy. The prepaid industry has definitely developed in leaps and bounds.Key indicators of the growth would be

• The providers are more secure in their business models
• The companies providing these services are more professional in their approach
• The underlying technology and backend services are more secure and scalable

I’d say business prepaid is sort of coming of age as corporates and businesses are beginning to understand the proposition a lot better but until the end consumer truly understands the prepaid proposition and benefits from it – there is quite a bit to do.

Have seen, read, reviewed and dumped enough prepaid value propositions which make perfect sense and are 100% clear in a board room amongst Financial Services  professionals with our “consumers” hat on which are still incomprehensible to the actual consumer.

Interestingly enough, every time someone is interested in knowing where I have spent the last 4-5 years, I almost always find myself in a 5 minute discussion explaining prepaid cards, the industry and almost inevitably have to start and finish with “gift cards” – a proposition which consumers do understand!

So I’d say “the prepaid industry is coming of age” but there is a long way to go with regards to consumer propositions and consumer education before we can really say that prepaid cards have come of age!

For me personally, the process of education online begins through the blogs, the forums and better informed prepaid FAQ’s!!

I am Gonna be your #1

It all happened on a quite Monday night as I sat running up some Google search results for sites I had spent time optimising recently. Typed in “prepaid marketing” in to Google and was quite chuffed to see my site as the #1 result – rightly so too as I was competing with 1/2 a million other pages for the right to be up there.

Turning the focus away from my blog, I moved on to other sites which I had spent numerous hours on and lo and behold, when I did a search for one of the most popular keywords, my other site was ranked #1 again!!!!! Grinning like a Cheshire cat and doing a dance and a jig which can only be described as improper and inappropriate with a total lack of courtesy to my neighbours (Yes, we live in houses with paper thin walls) at 2:00 am in the night – I spent the next 10 minutes marvelling at what I had done right.

During this phase of self admiration, I moved on from the Firefox browser to Internet Explorer and to continue with the gloating and frothing, did the same search again and viola…. my world seemed to crash around me as my site appeared a measly #7 in the rankings.

Cue: Drama – I was upset, angry and seething at Google for pulling the carpet under my feet. How could they take my dream away from me so quickly…?

And then, it happened….. I did the search in Firefox again – I was #1, Internet Explorer – #7, FF- #1, IE – #7, FF- #1, IE – #7, FF- #1, IE – #7…… what the hell was going on and it dawned on me.

On Firefox, I was signed in to my Google Account and Google was serving up the search results taking in to account not only their natural listing but also my search history. They had been sitting in a corner observing my search behaviour and then served me the site that I usually visited every time I searched for that keyword – my site!!

On Internet Explorer, on the other hand, I was not signed in to my Google account, so they were just serving me unadulterated natural listings.

Is there a point optimising if Google is going to play with the listings??

Whilst my bubble had been burst, it also got me thinking about optimising for natural listings.

Whilst it is actually not a bad thing that if I have a preference for a certain site or result and click through to it 80% of the time when I search for that phrase or item, Google recognises that is what I must be looking for and artificially boosts the results slightly but on the other hand, here I may be optimising like crazy but not a chance in the world if some other user has in the past visited some other site which is ranked below my site, it is likely that the other site may be served first in their searches.

Wasn’t Google’s mantra never to tamper with the listings or results? Logged in or not, shouldn’t the most relevant result be served up?

Personally, I love Google to bits – Adwords, Adsense, Webmaster Tools and all the wonderful bits and bobs and given their stance on search, I just think Google have made a big “booboo” if this is how they are looking to proceed with search!

The cards are available to O2 Customers only.

Big brands launching a prepaid card proposition is not really a newbie – numerous big, established and fast growing  brands like Virgin Money, InsureandGo, The Times, The Sun, the Mirror, Debenhams, Western Union, Rational FX, Caxton FX, Ryanair, talkSPORT and Tesco have tried and achieved success (..or failure)  to vastly differing degrees.

So the question would be – is it the brand, the brand audience or the actual product proposition which has been critical to the success or failure of the product. Lets have a look at some of these big brand prepaid card propositions.

• Virgin Money have a fairly successful model that some would argue would be even more successful if they had a more customer friendly pricing structure.
• Rational FX and Caxton FX are not household brand names but have good programmes because the travel money prepaid card proposition delivers significant and obvious value to the customer by providing them with exchange rates which are the best in the market.
• The InsureandGo and Tesco Travel money propositions are no longer available to customers which is more likely a failure of their suppliers as opposed to the branding and product proposition itself.
• The Sun, The Times, The News of The World, The Mirror and any other broadsheet with the largest audiences out there would probably struggle to categorise their programmes as successes.
• Western Union probably have the potential to offer their prepaid card to all customers and make it the most successful programme out there but their current offering is very limited and clearly aims at ensuring that their existing money transfer business model is not cannibalised.

So the point is that consumers are obviously looking beyond the brand and the actual prepaid card proposition has to deliver clear and significant value to the customer.

Can O2 succeed with the O2 prepaid card where others big brands have not? Can they cause the sort of market explosion that the likes of MasterCard and Visa have been predicting for the last 3 years? Teething problems aside, can O2 really deliver on the hype of prepaid cards?

Only time will tell!

Read the O2 Prepaid Card reviews on the Prepaid365 Comparison Site

• O2 Cash Manager Review
• O2 Load & Go Review

I have been thinking about this hypothesis of mine for quite some time and I thought I’d run a little experiment – so I did. Have spent the last 30 days observing colleagues, friends, acquaintances and all and have seen at least 3 instances where the above is true. Now given that the number of times I have seen more than 5 recommendations come through in a week is also 3 – that’s a 100% hit rate!!!

Doubt if LinkedIn power users are going to go down to 4 recommendations per week based on this post :0) but it would be nice if we kept recommending colleagues and partners that we have worked with on our own simply because we enjoyed working with them or because we actually thought they did a good job as opposed to “tit for tat” recommendations when one of you needs them or the flood of “John Doe is so wonderful…..” when John needs to make a career move from A to B :0)

Also, anyone think that LinkedIn is being hijacked by the recruitment industry? Not that I have anything against it – quite for it and probably the best way to get head hunted and/or have awareness of the types of roles and salaries available in the market but then again, all I see is status updates from recruitment agents in my profile (amongst the free flowing “goodbye” recommendations!!

Wonder when we will have something like  “John Doe is looking for a Royal Taster with previous tasting experience – urgent requirement at Buckingham Palace – contact me now” :0)

Everyone Loves Prepaid – NOT!

Yes, it’s true. For all the power of the prepaid card and all its wonderful benefits, prepaid cards attract a lot of criticism as well.

The reason is simple, prepaid cards typically have fees attached to them which means that you need to pay a fee to load your card and to use your card. Strangely enough, this fee is typically very small but not small enough to prevent the media going all gung ho on it and criticising the entire concept of prepaid. We are so used to the idea of free banking, that the mere thought that we actually have to pay for a little bit of added value service seems to be unacceptable.

Prepaid Cards Fighting Back

Well, it seems that Prepaid Card companies are fighting back by providing us with added value propositions so that are protestations melt away. Fighting back are the BaBeeCard, the Rational FX Travel Money Card, the Caxton FX Travel Card and the Virgin Money Prepaid Card.

1. BaBeeCard

Top of the hoop would be the BaBeeCard. Should really have been called the “Mummy card” because it is the one card in the market which delivers exceptional value to mummies – young, old and expecting.

With numerous discounts on shopping like Argos, ASDA, Alton Towers, Boots, Buyagift, Comet, Carphone Warehouse, Debenhams, JJB Sports, Halfords, H.Samuel, Hard Rock Café, Homebase, House of Fraser, HMV, Legoland, Mothercare, Ocado.com, Sainsbury’s, Selfridges, TopShop, Waitrose, WH Smith and many many more, the BaBeeCard can typically deliver a saving of GBP 831.95 across your grocery and petrol shopping alone.

Difficult to criticise that one – eh, Mr. Cynical Media Person!!

2. Rational FX Travel Money Card and Caxton FX Prepaid Card

Travel money from specialised FX providers like Rational FX and Caxton FX means you get a fantastic exchange rate which is way better than the high street exchange rate. Avoid Exchange rates at the Airport at all costs because they are simply too high – exorbitant even.

Now take this market leading exchange rate and put the currency on a card and what do you get?

Well, quite simply, a free card with the best FX rate in the market delivered on a convenient, safe and secure prepaid card, in a choice of currencies ready to deliver savings when you use your card at over 28.5 million worldwide locations.

The media does quite like travel cards but not as much as they are loved by consumers and travel cards along with money transfer cards represent the fastest growing segment of the market by far

3. Virgin Money Prepaid Card

Take a market leading brand which every consumer would love to be associated with and carry in their pocket, which has numerous different stores and product offerings across which it offers a 10% discount to its cardholders and add to it, the prestige of having a product that looks and feels exactly like the “best buy” credit card solution provided by the same provider and what do you get?

Well, the totally delicious Virgin Money Prepaid Card, of course.

Three wonderful prepaid card propositions that are changing the context of prepaid.

Read all about these wonderful prepaid card products at Prepaid365 – the prepaid card comparison portal.

For many, that term conjures thoughts of websites or spamming or search engines like Google, Yahoo and Bing. For others, it’s all about graphical design, writing fancy code or even affiliate programs. All of those answers correct, but the essence of internet marketing is much simpler.

At its core, internet marketing is about these things:

* Understanding the target market to which the product/service/cause you’re marketing will appeal
* Determining exactly how your target market interacts with the internet
* Positioning your content on the internet to attract the attention of your target market
* Collecting information about your target market (also known as “leads”) for follow-up and conversion into sales
* Design of offers or incentives to induce the desired actions from your leads

Since there is insufficient space in this article to give all of these topics adequate attention, let’s focus on just one specific topic with the realm of internet marketing: Email Marketing.

My best payoff has always come by focusing on permission-based email marketing. Permission-based email marketing refers to the practice of collecting information (including email addresses) from website visitors and communicating with them via e-mail with their direct consent. The “permission” aspect of permission-based email marketing is what separates legitimate email marketers from the spammers that everyone despises.

My love of email marketing is strong for one reason: It works very well. Email marketing has been much like a never-ending goldmine: It enables us to produce income on demand simply by sending a good offer to our list. When you have thousands of loyal subscribers – as we do – and you put a strong and compatible offer in front of them, income becomes nearly automatic.

However, the key to successful email marketing is the development of a legitimate trust relationship with your subscribers. If you opt to send your subscribers a request for purchases every single day, they will likely tire of your badgering and cease reading your emails altogether.

Alternatively, if you take the time to provide good content to your readers on a regular and frequent basis, you’ll discover that your readers take all of your emails far more seriously, and as a result your emails will be opened, read and acted upon with greater frequency. Essentially, email marketing is really an exercise in trust.

Even though there are more sides to internet marketing than just email marketing (permission based), email has been the foundation that our business sits on.

• What are you trying to accomplish?
  Being clear of what you are trying to accomplish is critical, If you don’t know where you want to get to – you are never going to get there. It all boils down to SMART objectives and clarity of thought and purpose.

• Can it be measured?
  So you know where you are trying to get to; that’s a good start but do you know how to measure where you are getting to. Targets and achievements both need to be measurable.

• What is the cost of bringing one customer, one time, to your website?
  Once again, it is all about being able to measure and monitor. You need to be able to define as closely as possible what it costs to bring a single customer to your website. So basically, analyse what the cost of single customer acquisition is? This will allow you to question whether that is a cost you are willing to pay and whether it is actually worth getting that customer to your site.

• What is the cost of having that consumer return?
  Been there once, now how do we get there again. This really follows on from the earlier question – if you know what it costs you to get a customer, it is just as important to know what it costs to have that customer return as zillions of marketing Guru’s and guides will tell you that retaining a customer and getting them to come back and developing loyalty is by far a cheaper and more beneficial route to success. New customer acquisition is necessary but customer retention is vital too.

• If this works, can we scale it?
  No point developing a strategy which is not scalable due to the lack of resources – technological, financial or people. Build a strategy which allows you to expand its scale and benefit, not only from the knowledge of what works and what doesn’t but also from the benefits of economies of scale.

Simple questions which are the first step in ensuring that you build a coherent web strategy.

With all things marketing, most online marketing teams will strive to achieve an 80:20 split across click performance via organic search and paid search, respectively unless there is a special campaign to achieve certain short term results.

The Pro’s of Search Engine Optimisation

• Some consumers tend to have more faith in organic results and hence, these are viewed as more “genuine” results for a query
• SEO is viewed as being as a relatively inexpensive option. Now this may not be completely true as keyphrase analysis, on-page optimisation via search engine friendly site development and content development can be expensive but the costs for SEO tend to be more consistent and tend to be independent of the volume of clicks
• SEO is definitely more cost effective when optimising for keywords which would attract a lot of advertiser competition via paid search

The Con’s of Search Engine Optimisation

• The Google algorithm is constantly changing. Top of the pile today may be bottom of the scrapheap tomorrow in the worst possible instance but this rarely happens. Good content and Good SEO practise will generally ensure that your performance is consistent but there is still a minute risk that the unthinkable may happen.
• With SEO, you are typically competing against 10 Billion or so other pages so whilst the rules of best practice are there for all to see, achieving good results may require the skills of an expert along with the ability to monitor and respond as required.
• Pay per click provides a better opportunity to achieve top listings in ultra competitive sectors.
• It is almost impossible to guarantee SEO results as it depends on so many variables which are outside your control – the changing algorithms and competitor activity being two which spring to mind. So next time you read about “100% guaranteed Google Rankings for $129″ on a website – question it and read the fine print. Getting ranked #1 for a key phrase with 10 keywords in a string isn’t exactly the way its meant to be!!
• Measuring SEO returns is more difficult and ambiguous which means that it is more difficult to draw up an internal budget or sign off on an SEO business case.

The most important thing to remember about SEO is that it is critical to your long term success. By investing in the right infrastructure and following good content and navigation practices, you are halfway there. Good content being defined as content which is good for Search engines as well as humans and has been designed to appeal to both.

The SEO best practice model is quite simple.

“Have a good hard think about what you want to achieve. Set your targets, plan how you aim to achieve them and research your keywords and keyphrases. Think about index coverage, on page optimisation and link building following a structured process which allows you to test and learn and monitor results and performance. Continuous monitoring will allow for continuous optimisation and an increase in conversions and sales which ultimately means success!”

It does get you thinking though how does one get from point A to point B as traffic levels rise and congestion increases. Well, its probably a case of travelling the road less travelled which is sometimes risky or being local and knowing the back roads like the back of your hand. Local knowledge surely helps, as it does when it comes to local industry knowledge!!

The Web is becoming a part of our lives to a degree where it is now a part of our fabric – our very making. Remember hearing something about “Internet addiction Clinics” on the radio but that is a different story altogether. The Web defines so much of what we do and don’t do these days and marketers are aware of this and it is no wonder we are bombarded with a zillion messages everyday.

Spam and solicited emails, pop-ups and pop-unders, cookies serving contextual ads, displays ads across the web space, tailored content and websites serving up content that is human and search engine friendly – the fact is that the information super highway is incredibly congested.

So, how does a marketer get their message across online?

Well, its similar to getting from point A to point B in more ways than you think.

You could travel the road less travelled and do something innovative and different and your message may be noticed or go with the tried and trusted method and use the back roads. Work with experts who have local industry knowledge and have “been there and done that” and you are more likely to succeed than not!!

Make sure you don’t get bogged down by congestion on the Information Super Highway.

The banks, though, with direct access to significant consumer volumes still seem to be kicking their heels with regards to prepaid cards: Prepaid365 explore why banks are not tweeting about prepaid cards.

Onwards and upwards!!