PrePay Technologies - 10 million prepaid cards and counting…

23 November 2006

PrePay Technologies Ltd., the UK market leader in prepaid cards, today announces the issue of its 10 millionth prepaid card under its various prepaid card programmes.

Prepaid cards are stored value payment cards that work just like normal credit or debit cards, but are preloaded with funds, hence the term “stored value”. With no line of credit, prepaid cards provide users with a secure alternative to cash and all the convenience of a credit or debit card, but without the risk of running up a debt. Prepaid cards cater for many customer groups – from those wanting to take control of their funds or for those without bank accounts – they open up the possibility to spend safely in the high-street, on the internet, via the telephone or to withdraw cash at ATMs worldwide (wherever the MasterCard, Maestro or Cirrus logos are displayed).

Established in 2000, PrePay Technologies focuses solely on the overall prepaid market sector and is credited as the key player in building and developing the prepaid card market in the UK. PrePay Technologies Ltd currently manage 10 million prepaid card accounts for blue chip companies such as Debenhams, Comet, Ticketmaster, Mirror Group Newspapers, Rugby Football Union (RFU), Capital Incentives (ACCOR), Clydesdale Bank, Yorkshire Bank, Arcadia Group (Topshop, Topman, Burton, Miss Selfridge, Outfit, Evans, Dorothy Perkins, Wallis), Laura Ashley, Western Union, Family Fund and the Grass Roots Group.

In January 2001, PrePay Technologies became the first company to launch a prepaid debit card specifically targeting internet spenders; the Splash Plastic card (www.splashplastic.com). With more than 1 million cards distributed in 5 years, the programme has evolved with industry standards, is now Chip and PIN compliant and is accepted by million of retailers across the globe displaying the MasterCard Maestro symbol.

Philippe Dufour, CEO of PrePay Technologies states “The journey has not been easy but was clearly fascinating. Whilst the concept is simple for the consumer, it was challenging to develop the proposition and have the infrastructure capable of supporting that proposition. When we set up PrePay Technologies back in 2000; prepaid cards did not really existed. Over the last 6 years, we have seen many providers and operators fall by the wayside but we have continued to steam ahead with single minded focus. We have been able to do this based on the strength and innovation of our technological proposition, the expertise of our people, the knowledge of consumers, the financial stability provided by our financial partners and the establishment of key industry relationships to deliver market leading solutions across all sectors. The prepaid proposition in the UK is about to move from infancy into its teens almost overnight and 10million cards is just the tip of the iceberg”.

PrePay Technologies provides a complete solution which includes programme design and integration, card issuing and processing and e-money compliance and regulation and represent a “one sTopshop” for prepaid solutions.

MasterCard certified, EMV Chip and PIN Compliant and FSA regulated; PrePay Technologies Ltd has a license to issue e-money and operate across Europe.

PrePay Technologies Head Office is in London but they have recently established a new operations centre in Swindon which is to be the base of technical operations to support the rapidly expanding business

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For further information about PrePay Technologies Limited, please visit the press room or contact

Amit Sharma
Corporate Marketing Manager
Tel: +44 (0) 207 0344 344

Email: amit.sharma@prepaytec.com