Partnering with MasterCard and IDT Finance, PayPoint is to sell the UK’s first over-the-counter prepaid disposable MasterCard, the Prime card.
PayPoint agents can now simply swipe and sell a financial service product to their customers with the introduction of Prime.
The Prime instant prepaid MasterCard is completely new and unique. Customers can purchase the Prime card instantly at PayPoint outlets without any credit checks. No bank account is required and no forms need to be completed.
A value between £10 and £150 can be requested at the counter and once the card is activated through the PayPoint terminal, it can be used immediately.
The Prime cards can be used globally in shops, online, over the phone and wherever MasterCard debit cards are accepted. The cards cannot be used in ATM machines.
There are no upfront purchase costs to PayPoint retailers and zero risk with inactive stock as the cards are inactive until sold. Agents will earn up to 2.2% commission on sales of Prime cards.
Mike Igoe, PayPoint’s Retail Director commented:
“The introduction of the Prime card is an important step forward for consumer trading and is a great addition to the retailer, especially as there is no risk to stocking them and favourable commission rates can be earned.
He adds: “As PayPoint expands the range of over the counter options to the consumer, the retailer will have added benefits and this trend will continue long into 2007 and beyond.”
- Ends -
Enquiries:
PayPoint Press Office
Kate Simpson/ Helen Crossley
020 7553 4111
kate.simpson@mischiefpr.com
Notes to Editors:
PayPoint is a leading branded payment collection network used, primarily, for the cash payment of bills and services and prepayments for mobile telephones and energy meters. There are over 16,000 retail outlets using PayPoint’s payment terminals.
PayPoint began trading in 1996 and initially collected payments through its network of retail agents for its founder client investors, who included British Gas, BT, BBC TV Licensing, London Electricity (now part of EDF Energy) and four water companies.
Clients include many of the UK and Ireland’s major energy, cable, mobile and fixed line telephony companies. PayPoint’s blue chip client list also extends to numerous water companies, local authorities and housing associations and a growing transport and travel base.
PayPoint listed on the London Stock Exchange in September 2004.
About IDT
IDT Finance is part of IDT Europe, a division of IDT Telecom, which itself is a wholly owned subsidiary of IDT Corporation. IDT Europe is headquartered in London with offices in 18 European countries. IDT Europe concentrates its expertise in prepaid cards, wholesale carrier services, payment products and prepaid mobile. IDT Europe recently sold its residential telephony and internet business, Toucan, to Pipex Communications.
IDT Financial Services Limited (IDT Finance) is a regulated bank, licensed by the Financial Services Commission (FSC), Gibraltar, under the Banking Ordinance 1992. Its cards are issued in partnership with MasterCard International and it offers its services in the United Kingdom following notification to the Financial Services Authority (FSA) under the Banking Consolidation Directive 2000/12/EC.
About MasterCard Worldwide
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 14 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 Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com
**** ENDS ****
