PrePay Technologies makes - Comet - sense

12th November 2003

PrePay Technologies, the UK's leading specialist provider of prepay products and services has developed and delivered a suite of prepay services for COMET Plc, the UK's premier destination for electrical goods. Part of the Kesa Electricals Group, COMET's penetration of the personal gifting, corporate gifting and insurance claim fulfilment markets will be further underpinned by the new PrePay Technologies' services.

The launch of the COMET Gift Card is timed to coincide with the fast approaching seasonal peak in gifting. As the pre-Christmas season hots up, PrePay Technologies has ensured that COMET has a highly visible, COMET-branded Gift Card available in selected stores, making the COMET Gift Card the gift of choice this Christmas.

Secondly, using the same core infrastructure, the COMET Business Services Corporate Card is targeted at organisations wishing to provide their staff with an innovative, easy to use reward. The card recipient can use the card until all the value has been redeemed, purchasing from a wide range of electrical products in any COMET store in the UK or by phone from COMET Direct. The service provides all parties a more aspirational product offering which also has the additional benefits of increased security and operational efficiencies.

The third new product which PrePay Technologies has delivered to COMET is the Electrical Replacement Card. This introduces automation, enhanced security and increased efficiency to all parties involved in the fulfilment of an insurance claim. The agreed value of an insurance claim is delivered to the policyholder on a COMET Electrical Replacement Card and can be redeemed in any COMET store in the UK for replacement products. The Electrical Replacement Card provides benefits to all parties; the policyholder with speedy claim settlement, the insurance company with improved control and security and COMET with a highly marketable, automated service.

Tony Bates, General Manager of COMET Business Services said: 'PrePay Technologies delivered this key business initiative for us in only three months which is down to their commitment, strong project management skills and desire to see this project through to a successful implementation, timed to perfection. In working with PrePay Technologies it quickly became apparent that this fresh approach to the way these payments have been undertaken traditionally provides us with a great way for COMET to increase customer loyalty by harnessing a new payment technology in a way millions of our customers can readily understand.'

Philippe Dufour, Chief Executive of PrePay Technologies said: 'PrePay Technologies is developing an enviable track record of delivering a range of prepay products and solutions to tight deadlines and within budget. We have a deep understanding of the dynamics, products and trends within the fast growing European prepay market enabling us to help our clients deliver new and innovative products to market.'

COMET's Bates also noted: 'We looked at other providers to partner with us and selected PrePay Technologies due to their demonstrable expertise in what is a developing market coupled with their existing track record in developing and delivering the Debenhams Gift Card. It was also important to work with a partner whose service to us is entirely UK based. Using PrePay Technologies made a lot of 'COMET-Sense' for us!'