LONDON, January 31, 2013 /PRNewswire/ --
Prepaid Financial Services (PFS), a leading global provider of prepaid solutions and preferred MasterCard® Supplier, and Deutsche Card Services (DeuCS) have announced the signing of a strategic partnership to develop and deliver innovative prepaid card solutions across Europe. The strategic agreement is an outcome of the prepaid card providers' continuous expansion in new territories and the full-service acquirer and payment service providers' aim to deliver excellent solutions in response to client demands.
Within the agreement, Prepaid Financial Services will work with Deutsche Card Services to develop prepaid card solutions for corporate clients. Some markets, e.g. Germany, where prepaid cards do not yet play as important a role, as they do in other regions such as UK, Italy and US, are especially interesting. Corporate clients, within these regions, are missing out on the significant benefits of prepaid card solutions. Prepaid solutions can be beneficial for travel and other corporate expenses, payment of disbursements, benefit payments, compensation payments e.g. for airlines and insurance companies and payroll administration, especially where banking facilities are underdeveloped.
At the outset, PFS will provide the technology and support to enable DeuCS to offer new payment solutions across different regions and territories whilst DeuCS will provide PFS with strategic access to clientele in new operating regions. The cooperation also includes plans to jointly develop new services in the future.
Noel Moran, Chief Executive Officer at PFS, commented: "We are extremely excited to be partnering with a highly respected organisation such as DeuCS. This partnership provides further validation of our growing stature as an industry leading global prepaid provider."
Jens Mahlke, Management Board member of Deutsche Card Services, stated: "We are happy to offer our clients and partners the world class prepaid solutions of PFS. This step is especially exciting for DeuCS, as we expand our service portfolio out of our native soil 'acquiring' to the opposite 'issuing' side of the card business."
Notes to Editors
About Prepaid Financial Services:
Prepaid Financial Services (PFS) Ltd. is a leading prepaid program manager operating out of the UK, has live programmes in 10 currencies, and is recognised as a specialist supplier to the prepaid industry globally. PFS are FSA regulated and manage programs processing millions of transactions every week. Our products are utilised by governments, blue chip corporations, SME's and individual consumers across Europe, Africa, America and the Middle East, utilising our cutting edge, secure technology.
For more information, go to http://www.prepaidfinancialservices.com or call +44-(0)20-7125-0321.
About Deutsche Card Services GmbH:
Deutsche Card Services broadens the range of cash management services offered by Deutsche Bank and offers international full-service solutions for debit and credit card acceptance and other non-cash payment methods. Proven risk minimization systems ensure that non-cash payment in e-commerce, in mail-order retailing and at the point of sale is easy, quick and secure. Unique online steering systems enable customers worldwide to monitor all of their transactions at any time. When implementing efficient payment solutions, the acquirer and payment service provider can rely on years of experience and a dependable technical platform. It is not for nothing that Deutsche Card Services was repeatedly named "best acquirer for international merchants".
For more information, go to http://www.deutsche-card-services.com
SOURCE Prepaid Financial Services