Collaboration to develop innovative prepaid solutions with particular focus on SME market
May 2011, London, UK – MasterCard and prepaid card issuer APS Financial Limited have extended their successful brand partnership by signing a new five-year deal, which will see their continued collaboration to drive the growth of the prepaid market in Europe.
In particular, both MasterCard and APS see the small and start-up business segment as a key area for growth in prepaid, as it can speed up and ease the process of allowing a company to receive and make business payments. Many entrepreneurs and small business owners are put off by the time and effort needed to persuade a bank to allow them to have a business account. By contrast, a prepaid account can be set up online in minutes and they know they will not be refused at the end of the process.
MasterCard's Head of Prepaid Europe, Matt Lanford, said, "We're looking forward to continuing our decade-long brand relationship with APS in Europe. Working alongside partners such as APS, MasterCard has been instrumental in driving the steady growth of prepaid throughout the region, as consumers, businesses and governments increasingly recognise how this simple payment vehicle can be customised to meet their diverse needs. Our focus now is on marrying robust prepaid solutions with cutting edge technology to drive usage and acceptance."
APS's founder and Chief Executive, Rich Wagner, commented, "APS and MasterCard have a track record of innovation in the prepaid market and this partnership agreement will permit us to continue to pool our resources with the aim of launching new programmes and developing new products for consumers, business and public sector organisations".
APS was the first prepaid card company to achieve direct membership to MasterCard in the UK back in 2007. As an exclusive issuer of MasterCard® branded cards this partnership has grown and strengthened, not least because APS is one of the UKs leading providers of payment solutions and prepaid cards.
For further information, please contact:
Jane Lougher, Weber Shandwick Financial
Tel: +44 (0)20 7067 0745, email@example.com
James Page, Weber Shandwick Financial
Tel: +44 (0)20 7067 0206, firstname.lastname@example.org
Doyel Maitra, Head of Communications UK & Ireland Division, MasterCard
Tel: +44 (0)20 7557 5033, email@example.com
With almost 600,000 cards issued and over £750,000,000 in payment turnover, APS is one of the world's most innovative payment solutions companies and the most awarded prepaid card provider in Europe. The company's flagship product, the award-winning Cashplus prepaid Gold MasterCard, is the UK's first and best known general purpose prepaid card for consumers.
Small-to-medium sized businesses (SME) and government bodies alike are also now enjoying the benefits of APS' flexible payment solutions, with nearly 3,000 companies and a range of local councils now using Cashplus cards to streamline their payments, manage expenses and take control of their day-to-day banking.