The Cashplus Prepaid Card, offered by Advanced Payment Solutions (APS), has won ‘Best Payroll Prepaid Card’, ‘Best Unbanked Prepaid Card’, and ‘Best Basic Bank Account with Prepaid Card’ at the Prepaid365 Awards 2012.
There were over 340,000 consumer votes and 86 entrants for this year’s Awards. The votes show just how much APS is appreciated by the British public with particular popularity amongst the unbanked and under-served sectors. As one of the only payment awards that are judged in this way they are recognised as a very good indication of customer satisfaction. This is particularly important as widespread innovations are introduced in the payment market.
Amit Sharma, CEO and Senior Prepaid Consultant at Prepaid365, the UK’s Prepaid Card Portal, declared that; "It is certainly not a surprise to find the Cashplus card at the head of the table when it comes to consumer choices at the Prepaid365 Awards. The Cashplus Prepaid MasterCard® and the APS team have continued to win recognition across trade and consumer forums year on year and this recognition is well deserved. From innovations such as Creditbuilder™ to the new Debit Protect innovation, the Cashplus card team has consistently delivered value to consumers with features and functionality that bring actual tangible benefit. Their track record in helping the unbanked and under-served to gain electronic payments access and become financially included is second to none".
APS addresses consumer concerns around the lack of transparency with fees and penalties. ‘Free’ banking is now recognised as a myth, with more than 6.5 million consumers paying more than £100 in penalty fees each year for a ‘free’ account1. With APS there are no penalties; instead they provide a number of cost effective added extras to help customers better manage their money including:
- The award-winning Creditbuilder product
- Online banking 24/7
- Short term loan products that can be used to cover emergency bills
- The Cashplus Overdraft, which comes with a flat daily usage fee making it easy and transparent to calculate the charges of use
Richard Wagner, CEO of APS, explained; "We’re absolutely delighted that consumers are so impressed with our products. These Awards show that they recognise that our transparent fees work out much cheaper, for most people, than a ‘free’ bank account."
1Source: A New Approach to Banking, Social Finance Ltd, April 2011
About Advanced Payment Solutions Ltd (APS)
With over 1.2 million cards issued and over £2.1 billion in payments processed, APS is one of the world’s most innovative payment solutions companies and one of the most awarded card providers in Europe. The company has grown from launching the UK’s first and best known general purpose prepaid card for consumers, to providing businesses and local councils with digital and mobile banking solutions.