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The Money Shop launches premium Titanium cashplus prepaid MasterCard®

Added: (Mon Jun 12 2006)

Pressbox (Press Release) - A sleek new Titanium cashplus prepaid MasterCard, positioned as the premium prepaid card on the market, has been launched this week by The Money Shop, the United Kingdom’s leading cheque cashing company.

The prepaid card is a MasterCard card, giving cardholders access to 24 million merchants worldwide online, in store and by phone; is a chip and PIN card; offers purchase protection in line with credit based MasterCard products and is personalised and embossed with the cardholder’s name. The card can also be used overseas and at ATM machinesand can be reloaded, free of charge, at any Money Shop store or Post Office branch.

Money Shop has launched the card in conjunction with specialist prepaid card firm Advanced Payment Solutions. The card is Advanced Payment Solutions’ third offering from its cashplus range, which is issued by Broadcastle Bank.

The Titanium cashplus card is available exclusively from The Money Shop’s 168 branches through the UK. To get a card, customers need to bring in proof of ID, such as a driver’s license or passport, and proof of address in the form of a utility or phone bill which is not less than three months old.

Paul Mildenstein, Managing Director for The Money Shop is confident the Titanium cashplus card is the best card on offer in the market.

"The Titanium cashplus card offers cardholders real value for money and a prestigious card design that meets consumers’ expectations and aspirations of having a MasterCard card in their wallet. As a MasterCard card, it is the most widely accepted prepaid card available in the UK today. Cardholders can get their wages paid into the card, use it to pay utility bills and shop online and travel anywhere in the world with the peace of mind that their MasterCard card will be accepted.

"Our choice of pricing plans means cardholders can choose to use their card as an everyday purchase card or simply as their internet card of choice. This level of choice is unique in the market and gives cardholders great value, regardless of their motivation for getting a card.

Advanced Payment Solutions CEO Rich Wagner says the Titanium cashplus prepaid MasterCard meets the needs of consumers looking for a complete prepaid solution in one card.

"TheTitanium cashplus prepaid MasterCard combines a more mature card design with features and benefits that will take the cardholder from online shopping to travelling anywhere in the world through to their every day spending needs. The chip and PIN solution and purchase protection enhances their security and the secondary cardholder option offers a streamlined and highly competitive money share service.

"It’s a great product for people who don’t have a bank account but have an immediate need to get their wages paid by direct credit, for parents wanting a functional and reliable payment card that they control for teens living away from home and for people who are suffering from a bad credit rating. It’s as close to having a MasterCard card, without the credit facility, as you can possibly get," says Mr Wagner.

"The Titanium cashplus card is an extension of our cashplus range and we look forward to further driving the acceptance of prepaid cards in the United Kingdom through innovative products and enhanced cardholder services."

The Titanium prepaid MasterCard, retails for £9.95. Cardholders have the choice between a monthly subscription fee of £4.95 covering unlimited purchase transactions or, for low transaction users, a £1 per transaction fee. Cardholders leave the store with a live Cirrus ATM card for immediate use until their embossed, personalised Titanium cashplus prepaid MasterCard arrives. A directory of Money Shop stores and further product information can be found at: www.titaniumcashplus.co.uk.

Cardholders can have up to four secondary cardholders on one account. Primary account holders must be 18 years of age or over. Secondary cardholders can be thirteen years of age or over. Only one monthly fee is charged per account, regardless of the number of cardholders accessing the account.

On the web:
Titanium cashplus prepaid MasterCard: www.titaniumcashplus.co.uk
Money Shop: www.moneyshop.tv
Corporate: www.apsgroup.com
MasterCard: www.mastercard.co.uk

Ends

For further information, please contact:
Claire Fouhy, Corporate Communications Manager
Advanced Payment Solutions
T: 44 207 868 5039 M: 44 7766 186 061 E: claire.fouhy@apsgroup.com

About The Money Shop

The Money Shop UK is wholly owned by Dollar Financial Corp, a leading international financial services company. It offers a range of consumer financial products to customers, many of whom receive income on an irregular basis or from multiple employers. Consumer financial products and services primarily consist of check cashing, short-term consumer loans, money orders and money transfers as well as other conveniences such as utility bill payments, currency exchange and tax preparation. In addition Dollar Financial Corp’s newly acquired business, We The People USA, Inc. offers retail-based legal document preparation services. At December 31, 2005, the Company operated a network of 1,329 stores, including 165 We the People legal document preparation locations, and 725 company-operated financial services stores in 36 states, the District of Columbia, Canada and the United Kingdom The Company’s store network is the second-largest network of its kind in the United States and the largest network in both Canada and the United Kingdom.

About Advanced Payment Solutions

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. Its senior management team and board of directors have unparalleled experience in the prepaid and payment industry. The company aims to lead UK prepay market growth to emulate the success of prepaid payment cards in the US.

APS’ first prepaid payment card, the cashplus™ prepaid MasterCard, launched in September 2005, is the UK's first general purpose prepaid chip and PIN payment card. Cardholders can reload their MasterCard at over 14,000 Post Office® branches and some 450 retailers throughout the UK.

Alongside developing its cashplus™ product portfolio, APS provides a suite of services for businesses wanting to offer branded prepaid products to their customers.


About Broadcastle Bank Ltd

Broadcastle Bank Ltd is authorised and regulated by the Financial Services Authority. Their registered office is 91 High Street, Thame, Oxfordshire. OX9 3EH Company Number 0542018.


Submitted by:Victor Trocki
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