The New Mio(TM) Money Prepaid MasterCard(R) and Mio(TM) Now Card Provide a Safe and Flexible Way to Pay

Prepaid Card Helps Consumers Avoid the Dangers of Cash

Sep 27, 2005, 01:00 ET from PRE Holdings, Inc.

    NORCROSS, Ga., Sept. 27 /PRNewswire/ -- PRE Holdings, Inc. announces a
 safer alternative to cash.  PRE, a leading provider of prepaid transaction
 processing solutions, is distributing the new Mio(TM) Money Prepaid
 MasterCard(R) and Mio(TM) Now Card, an instant issue, PIN-based STAR(R) card.
 Mio Cards are a safe, convenient, flexible alternative to cash.  Unlike cash,
 the Mio Cards make it easy to track spending and decrease the risks caused by
 theft, while delivering the financial benefits of a payment card, such as
 simplified money handling, budget tracking and bill payment.
     Parents often find prepaid cards a welcome financial convenience to share
 with teens. The Mio Cards offer parents the peace of mind of knowing that
 their college students will never be short on cash should an emergency arise,
 or without money to purchase everyday needs.  The Mio Cards can also help
 parents teach smart money management techniques and financial responsibility.
     The Mio Cards also provide a safer alternative to cash while traveling.
 Unlike cash, which is gone if lost or stolen, the Mio Cards can be deactivated
 in the event of loss, preserving its balance. It also eliminates the
 inconvenience of money orders and check cashing services for frequent users of
     "The Mio Cards help meet pressing financial needs for so many people,"
 said Tim Moss, chief operating officer of PRE Holdings, Inc., distributor of
 the Mio Cards.  "The Mio Cards are a safe, flexible payment option."
     Moss noted that there are four specific areas where the Mio Cards offer
 protection to consumers:
      1. Mio Card accounts are not linked to consumers' bank accounts and
         account information is not reported to credit bureaus.
      2. Cardholders are protected from unauthorized purchases -- should the
         Mio Money Card be subject to loss, theft or fraud, MasterCard Zero
         Liability protection applies and cardholders will not be held
         responsible for purchases they did not make. The Mio Cards are also
         protected from unauthorized use through the use of a Personal
         Identification Number (PIN).  The funds on cards are FDIC insured;
         BankFirst, Member FDIC.
      3. Monthly statements are online, eliminating paper records.
      4. No written application is required to obtain a Mio Money Card.
     "The Mio Cards fill a niche in the realm of prepaid cards," said Moss.
 "We listened to what our customers told us in our extensive consumer research
 and we built in the features that were most important to them -- instant use,
 ease of reloading the card, real time card to card sharing, a simple fee
 structure and free 24x7 bilingual customer service."
     Moss cited several common examples where the Mio Cards can be invaluable,
 "The Mio Cards can literally be a lifesaver when a person needs to share money
 to resolve a travel emergency or to get needed cash to friends or relatives.
 Other circumstances where the convenience and inherent security of the Mio
 Cards can be significant include parents funding college expenses or wanting
 to control and monitor the spending of their college students; giving
 consumers a safe way to make online purchases; or providing a mechanism for
 small business owners to provide and track petty cash for employee expenses."
 He continued, "It is simply an ideal solution for people that prefer to use
 cash rather than other means, for those wanting to control spending and for
 those who need more tangible security for their money."
     The Mio Card is NOT a credit card and therefore does not give access to a
 credit line.  Consumers use only the funds that are loaded on the Mio Card
     The Mio Now Card is sold at thousands of retail locations across the
 country. It is an "instant issue" card meaning that customers receive a Mio
 Now Card at the time of purchase. It can be loaded with funds of up to $500 by
 the customer and activated instantly with a quick call to a toll-free number
 with successful ID verification and account approval*.  Customers then gain
 immediate access to their funds anywhere STAR cards are accepted, such as ATMs
 and most retailers. Because the use is PIN-based, the cash balance is
 protected against unauthorized use if the card is lost or stolen.
     Within days, customers receive a personalized Mio Money Prepaid
 MasterCard. The Mio Money Prepaid MasterCard is accepted at over 1 million
 ATMs, millions of retailers and online -- anywhere Debit MasterCard is
 accepted around the world.
     The Mio Cards can be loaded in several ways:
      - Direct Deposit (including all or part of a paycheck, social security
        check, or even a tax refund)
      - Cash loads at any Mio retail center nationwide; (call Mio customer
        service at 866-840-6461 or go to for location
     Flexibility is a major asset.  Mio customers can have multiple Mio Cards
 set up for a single account balance or have several family accounts that each
 carry independent balances, allowing control of the balance on each card.  Mio
 Card accounts can be monitored and funds can be shared from one Mio Card
 account to another instantly by telephone or online (
 Proprietary technology allows Mio to post transactions within seconds, so
 customers can review their most recent transactions, check balances and print
 statements virtually in "real time."
     The fee structure for the Mio Cards is simple.  The average new card
 retailer fee is just $9.95 and reload fees are $4.95 (regardless of the load
 amount).  The standard monthly account service fee plans range from $4.95 for
 low usage consumers to a $12 all-inclusive "Value Plan" for those who use
 their card more often.  For information on the various account/use structures,
 go to and click on the Mio for Consumers link.
     About PRE
     PRE Holdings, Inc. (, along with its
 subsidiaries PRE Solutions, Inc. and ITC Financial Services, LLC, is a leading
 provider of prepaid transaction processing solutions. With a range of products
 designed to offer retailers powerful revenue opportunities in prepaid products
 and other services, the company's solutions are fast, easy-to-use and
 eliminate the need for a retailer to purchase and manage prepaid product
 inventory. PRE Holdings' inventory features real-time product delivery,
 detailed transaction reporting and point-of-sale activation. Available at more
 than 60,000 retail locations, PRE's product line includes prepaid wireless
 airtime, long-distance cards, gift cards, music downloads, mobile phone
 ringtones and games, online games, the Mio(TM) Money Prepaid MasterCard(R),
 and the Mio(TM) Now Card.  Mio Cards are issued by BankFirst and offered by
 ITC Financial Licenses, Inc.
     About BankFirst
     BankFirst is a progressive bank specializing in reliable, innovative
 payment services and competitive deposit products for consumers nationwide.
 After over 75 years, BankFirst continues to provide innovative solutions by
 focusing on stored value cards and related services since 2001; BankFirst is
 now recognized as a leader and pioneer in this emerging industry. BankFirst is
 chartered in Sioux Falls, SD, with offices in neighboring Toronto and
 Brookings, SD, Chandler, AZ, and Minneapolis, MN.  For more information visit
     About MasterCard Incorporated
     MasterCard Incorporated is a leading global payments solutions company
 that provides a broad variety of innovative services in support of our global
 members' credit, deposit access, electronic cash, business-to-business and
 related payment programs. MasterCard, through its principal operating
 subsidiary, MasterCard International Incorporated, manages a family of well-
 known, widely accepted payment card brands including MasterCard(R), Maestro(R)
 and Cirrus(R) and serves financial institutions, consumers and businesses in
 over 210 countries and territories. The MasterCard award-winning Priceless(R)
 advertising campaign is now seen in 105 countries and in 48 languages, giving
 the MasterCard brand a truly global reach and scope. For more information go
 to or refer to the filings of
 MasterCard Incorporated with the U.S. Securities and Exchange Commission.
     * Obtaining Your Card:  The USA PATRIOT Act is a federal law that requires
 all financial institutions to obtain, verify, and record information that
 identifies each person who opens a Card Account.  What this means for you:
 When you open a Card Account, we will ask for your name, address, date of
 birth, and other information that will allow us to identify you. We may also
 ask to see your driver's license or other identifying documents.

SOURCE PRE Holdings, Inc.