16 May 2008
MasterCard Honours 2007/8 European Prepaid Partners
Advanced Payment Solutions impress with winning prepaid card programmes
MasterCard Worldwide has announced the winners of the second annual MasterCard Europe Prepaid Awards.
The Prepaid Awards were established last year to recognise excellence and innovation in the prepaid card segment of the European payments industry. The four categories for the 2007/8 Prepaid Awards are: Best Innovation and Technology, Best Marketing and Distribution, Best Corporate/Government Programme and Best Voice of the Cardholder.
Chris Reddish, Global Product Head of Prepaid Europe, MasterCard, said:
"This year's awards demonstrate the financial inclusion and innovation that are at the heart of prepaid. From a Consumer Credit Association-endorsed card which allows people to repair or build credit, to one which helps new arrivals in the UK to integrate while maintaining contact with home; from a card which helps companies in all sectors reward employees, partners and suppliers, to one which allows football fans to gain access to and make contactless payments at their home ground - the diversity of this year's winners is a testament to the breadth and scope of the prepaid market in Europe."
MasterCard 2007/8 Prepaid Award Winners:
The Best Voice of the Cardholder Award was given to Advanced Payment Solutions for its Creditbuilder service. The first of its kind in Europe, it was developed following demand from customers for help in rebuilding their credit and learning how to use it responsibly. Creditbuilder is delivered with the Cashplus prepaid gold MasterCard card and comes at no extra charge and without any interest, administration, late or early settlement fees. The standard monthly fee is advanced up-front for the year and then each month the loan is 'repaid' by the cardholder with a £4.95 monthly instalment and reported to the leading credit rating agency. At the end of 12 months, the loan with APS is cleared and counts towards building or improving the customer's credit rating as a satisfied loan.
What the judges said:
"Over the past few years, APS has consistently demonstrated its ability to address real consumer issues, and Creditbuilder illustrates its recognition of the need for prepaid consumers to feel more included in the wider world of financial services. The service provides one of the vital building blocks by which consumers can achieve financial enablement."
ENDS
For further information, please contact:
mediaenquiries@apsgroup.com
T: 0207 100 5850
About APS
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 and the rest of Europe. Its senior management team and board of directors have unparalleled experience in the prepaid and payment industries, bringing together experience from Barclaycard, GE Money, VISA, Bank of America, Netspend, Western Union, Diners Club and Citibank. The company, backed by leading US private equity and venture capital firm Trident Capital, aims to lead UK prepay market growth to emulate the success of prepaid payment cards in the US where prepaid cards now make up a trillion dollar market. APS is a multi-award winning business with the most recent award being Winner of Best Achievement in Customer Service at The Card Awards, London, January 2008. www.apsgroup.com
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