First Australian Dollar MasterCard Prepaid Card Launched by PFS | Prepaid365

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16 September 2010
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In anticipation of the estimated 664,000 British nationals visiting Australia* annually, Prepaid Financial Services (PFS) have launched Europe’s first MasterCard Prepaid Travel Card in Australian Dollars (AUD). The Australian Dollar Travel Card offers secure, cost effective and convenient foreign currency and is available directly to consumers (www.prepaidfinancialservices.com) or through businesses to their staff or consumer base. The Prepaid Card is issued by Transact Network Ltd.

Noel Moran, CEO of PFS explains, “Due to the increasing consumer demand for prepaid cards for buying Travel currency, we are delighted to launch the PFS MasterCard Prepaid Australian Dollar Travel Card. The Card will be available throughout Europe and combines the safety of a payment card with the flexibility and convenience of a mobile phone. Cardholders travelling to Australia can effortlessly manage their money 24/7 using their mobile phone, while making significant savings when buying their holiday currency.”

The Australian Dollar Travel Card can be loaded using a debit or credit card online or by SMS. Furthermore, cardholders can load their cards via a bank transfer or standing orders and wage transfers from employers.

When the card is purchased, it can be immediately loaded with Australian Dollars at the then current rate of exchange. The currency on the card is ‘locked in’ at the rate it was purchased meaning value does not fluctuate with exchange rates. This allows canny consumers the option of purchasing their currency in advance of their holiday when the Sterling to AUD rates may be at its most favourable. As the card is now loaded with local currency when cardholder’s use their card in Australia they are effectively spending in Australian Dollars meaning there are no foreign exchange charges on their transactions.

The card provides a very competitive exchange rate compared with airports and high street currency providers. In addition cardholders can save for their trip to Australia by making multiple loads to their card over several months.

Carrying large amounts of cash while abroad is not recommended and is often unsafe. One of the biggest advantages of the PFS MasterCard Prepaid Australian Dollar Travel Card is the safety it provides to cardholders. The card provides the security of a Chip and PIN MasterCard Card, making it a safer alternative to using foreign currency abroad. The cards are considerably more convenient than traditional Traveller’s Cheques, where travellers have the hassle of carrying around their passport and have to record their spent Traveller’s Cheque numbers.

Carrying large amounts of cash while abroad is not recommended or indeed very safe, this is particularly true in South Africa. One of the biggest advantages of the PFS MasterCard Prepaid Rand Travel Card is the safety it provides to cardholders. The card provides the security of a Chip and PIN MasterCard Card, making it a safer alternative to using foreign currency abroad. The cards are considerably more convenient than traditional Traveller’s Cheques, where travellers have the hassle of carrying around their passport and have to record their spent Traveller’s Cheque numbers.

A cutting edge feature of the card is that it can be managed by simply sending SMS instructions from a registered mobile phone or online via the website. If a cardholder loses their card they can send an SMS to our system which will block the card from any unauthorised use at ATMs or in store.

The range of self-service account management functions available using a mobile phone includes the ability to initially load and top-up your card with funds, lock and unlock your card instantly and to obtain your card balance. These self-service functions are available at any time, globally, instantly, which gives customers enhanced control over their funds. In addition, cardholders can conveniently top up their card by sending an SMS message from their mobile phone from anywhere in the world.

PFS are offering travel agents or anyone in the tourism sector the opportunity to re sell or distribute the PFS MasterCard Prepaid Australian Dollar Travel Card. Benefits to companies that wish to sell the card are:

  • PFS are the only dedicated prepaid provider providing a Card in Australian Dollars (AUD) where business clients can benefit by earning commissions on card activity for the life of the card.
  • An additional revenue stream for the reselling company
  • No additional resources are required to offer the cards
  • Ideal value added service for companies with existing travel offerings
  • No licence requirements to offer the product
  • It is an “off the shelf offering” and you can be up and running in less than 10 days.
  • No investment or cost incurred to start selling the product

To apply for a PFS MasterCard Prepaid Australian Dollar Travel Card or find out more about business prepaid card solutions from PFS, visit the PFS website at www.prepaidfinancialservices.com.

Transact Network issues the PFS Prepaid MasterCard. Transact Network (www.transactnetwork.com) is a licensed European E-money institution and a MasterCard® principal member. Powering prepaid programs is the company’s sole business.

“With PFS, businesses can introduce a prepaid card product without the need to commit to minimum card volumes or pay excessive prepaid programme setup fees,” Noel explains. “We create low-volume prepaid card programs on generic branded plastic within 10 working days. This enables companies to take advantage of opportunities in record time. Furthermore, our clients are not tied into minimum card orders which are common amongst many prepaid providers.”

For more information contact:

Prepaid Financial Services Office:

+44 207 292 7581

* Source Tourism Australia

To apply for a PFS Prepaid Credit Card, visit the PFS website at www.prepaidfinancialservices.com

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