26 March 2009
POSTA ROMANA AND APS LAUNCH ROMANIA'S FIRST EVER PRE-PAID PAYMENT CARD
MOVE CREATES NEW PAYMENTS MARKET
Posta Romana, the Romanian postal service, and Advanced Payment Solutions Ltd (APS), the leading European provider of prepaid cards, have partnered to launch Romania's first-ever general purpose prepaid payment card.
The launch of the Posta Romana Cashplus prepaid MasterCard opens up a new market by bridging the gap between cash and credit cards in a country where a significant number of its 21 million people do not have a bank account or credit card and most payments are made in cash.
This new market provides Romanian consumers with a respected, secure and internationally accepted alternative to cash for making purchases online, by telephone, in store, overseas and cash withdrawals from cash machines or free inside Posta Romana. Prepaid cards work by loading money on to the card to make purchases and do not require credit checks, so any Romanian aged 18 years+, resident in Romania and has an identity card will be eligible to open an account.
The card will be offered initially to Posta Romana staff ahead of the consumer launch in six Posta Romana branches in Bucharest in the second quarter 2009. The card will be rolled out to all of Posta Romana's 7,000 branches in due course. More information about the card's features and benefits will be available at the consumer launch next month.
Research undertaken by APS in October 2008 found that while 56% of Romanians have internet access at home or work, only 6% shop online due to security fears or lack of a card to make purchases. Respondents also saw the ability to use plastic cards to provide money to family abroad as an alternative to traditional money transfers out of Romania as an advantage.
Against this backdrop the new Posta Romana Cashplus prepaid MasterCard offers many benefits. It has CHIP and PIN functionality for added fraud protection and can be used like a regular debit or credit card. It enables the holder to pay utility and other bills online, avoids the need to carry large amounts of cash, helps to shop online more safely and take advantage of lower internet prices. Remittances and international travel and spending are also more straightforward than using cash. MasterCard is accepted in almost 100,000 outlets in Romania and 26 million places around the world.
Rich Wagner, Chief Executive Officer, APS, said: "I am proud that Posta Romana selected APS to help develop the payments market. Posta Romana's trusted brand and network of more than 7,000 branches will reach consumers who have not yet been able to experience the financial freedom a plastic payment card provides."
"Posta Romana enters the prepaid cards market in conjunction with two strong and experienced partners: MasterCard and Advanced Payment Solutions. Posta Romana will provide nationwide coverage to this partnership; due to this Posta Romana customers will benefit from a greater flexibility to manage their finances. Cashplus prepaid card will not only be accepted in Posta Romana branches, but also in retail stores, online shops and the ATM network worldwide; wherever the MasterCard sign is displayed. We are excited that some of our own employees will be first to use the new prepaid MasterCard, declared Marius Vatafu, CEO Posta Romana ,
Matt Lanford, Vice President and Prepaid Products Lead-Europe, MasterCard, said: "It's a great accomplishment for APS to have secured the Posta Romana deal. APS and MasterCard are the perfect partners to help Posta Romana expand their financial product strategy to the millions of Romanian consumers who do not have a bank account."
ENDS
For further information, please contact:
|
Posta Romana |
mediaenquiries@apsgroup.com |
APS Romania |
About APS
Advanced Payment Solutions Ltd (APS) is the leading European prepaid card provider and has more relevant and proven experience in its team than any other UK prepaid payment card company. APS' primary offer is the Cashplus prepaid Gold MasterCard® is a personalised, embossed, Chip and PIN prepaid MasterCard card. Find out more about APS at www.apsgroup.com.
APS Contacts in Romania
Please email Alex Petrescu on Alex.Petrescu@apsgroup.com or Viorel Motoroiu on Viorel.Motoroiu@apsgroup.com.
About Posta Romana
Posta Romana is the national postal service operator with majority state ownership, the shares being divided between the Romanian state, represented by the Ministry of Communications and Informational Society (75 per cent package of shares), and the Property Found (25 per cent package of shares).
The Company owns a network of over 7.100 postal offices and delivers weekly over 8.5 million postal items. Over 550 post offices out of a total of 1200 postal computerized postal offices are included in the Virtual Private Network.
About MasterCard
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard® , Maestro® and Cirrus® , MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
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