Online cash voucher provider Ukash and Payzone are leading the way in the UK prepaid market with a major new deal enabling the provision of prepaid card reloading services for MasterCard rePower at over 18 000 Payzone outlets across the UK, extending more convenience to cardholders in the UK.
Ukash has been working with MasterCard to launch MasterCard rePower, which will allow consumers to load cash onto their MasterCard and Maestro prepaid cards at Point-of-Sale (POS) locations across Europe.
The partnership with Payzone will significantly increase the number of outlets where MasterCard rePower will be available to consumers, and is expected to go live early in 2010.
To load money using MasterCard rePower, consumers simply swipe their card and in exchange for cash, their card is reloaded with funds.
Ukash will enable this service to be delivered across the UK initially and then across Europe via partners within its merchant estate. The value of the transaction is immediately available for the consumer to spend on his or her prepaid card, wherever MasterCard is accepted.
Ukash chief exec Mark Chirnside said: "The MasterCard rePower service is a real addition to the prepaid card segment in the UK. The prepaid market is very significant and has proved a key growth area and will continue to be an important revenue stream for Ukash as we continue to diversify our range of products."
Bill Thomson, managing director at Payzone said "Payment cards represent an exciting area of growth for Payzone, further adding to our extensive range of services which include mobile top-ups, bill payments, calling cards, ticketing and money transfer."