15 September 2006
cashplus™ announced as a finalist in IFS/Capgemini Financial Innovation Awards
Advanced Payment Solutions' (APS) flagship product, the cashplus prepaid MasterCard®, has been named as a finalist for the Most Promising New Product in Retail Financial Services Award at the ninth annual IFS/Capgemini Financial Innovation Awards.
The Awards will recognise the best of innovative products, services or initiatives within the financial services sector, launched in 2005.
All entries were evaluated by a panel of industry specialist judges who selected finalists based on the level of innovation demonstrated, the financial and non financial impacts of the product for the business and its customers and its success status since launch.
In a year where a record number of entries were received, Advanced Payment Solutions was named a finalist alongside Barclays Bank of Kenya, Barclays Wealth, Nationwide and Birmingham Midshires.
The winners will be announced at an Awards ceremony to be held at the Connaught Rooms in the City of London on Wednesday 22 November 2006.
APS Chief Executive Rich Wagner is delighted to be recognised alongside established financial institutions such as Barclays and Nationwide Bank.
"This is an exciting accolade for the prepaid card sector from the financial services industry, which has recognised the fast growing role prepaid cards will play in future payment transactions."
"This kind of recognition is a tremendous achievement for a start up company in its first year of commercial operation and underpins the quality of our team and our products," says Mr Wagner.
Over ��20 million of cardholder funds have been loaded onto cashplus prepaid MasterCards, issued by Broadcastle Bank Ltd, since the product's launch in September 2005.
This is not the first time APS' has received recognition from its peers. Earlier this year cashplus was recognised as the second most Innovative Retail or Corporate Payments Product launched in Europe during 2005 by the European Payments Consulting Association (EPCA), a pan-European association of independent national consultancies, each of which has expertise in payment systems and payment products.
Ends
For further information, please contact:
Sanjay Mistry
@ Public Relations
Tel: 0870 011 4716
Mob: 07810 368 772
Email: info@prlimited.co.uk
About Advanced Payment Solutions
Advanced Payment Solutions was established in early 2004 to become the pre-eminent leader of general purpose prepaid cards and payment solutions in the United Kingdom. Its senior management team and board of directors have unparalleled experience in the prepaid and payment industry. The company aims to lead UK prepay market growth to emulate the success of prepaid payment cards in the US.
APS' first prepaid payment card, the cashplus prepaid MasterCard, launched in September 2005, is the UK's first general purpose prepaid chip and PIN payment card. Cardholders can reload their MasterCard at over 14,000 Post Office® branches and some 450 retailers throughout the UK.
Alongside developing its cashplus product portfolio, APS provides a suite of services for businesses wanting to offer branded prepaid products to their customers.
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