FEXCO and Payment Cloud Technologies Launch No.1 Currency Prepaid Mastercard Travel Card

FEXCO and Payment Cloud Technologies Launch No.1 Currency Prepaid Mastercard Travel Card
03.02.2017 09:00 am

FEXCO and Payment Cloud Technologies Launch No.1 Currency Prepaid Mastercard Travel Card

Credit Cards

Payment Cloud Technologies (PCT), the London-based FinTech business, and FEXCO, Ireland’s most successful multi-national financial and business solutions provider, have today announced the official launch of their new No.1 Currency Prepaid Mastercard Travel Card.

The card, available to order online now, locks into a fixed rate at the time of loading currency, guaranteeing a competitive rate with no commission charge for customers. PCT is developing No.1 Currency’s unique in-store proposition that will be made available later this year across the company’s UK branches. PCT was selected by FEXCO for its proven track record in bringing prepaid cards to market quickly and easily.

Ian Clowes, CEO, Payment Cloud Technologies, said: “Businesses have recognised the need to expand their cash service product portfolio in a global prepaid market that is expected to reach $3.1 trillion by 2022. PCT quickly recognised FEXCO’s ambition to bring a product to market that makes a difference to their customers, so we were thrilled to be able to apply our specialist knowledge in rapid market entry and, ultimately, help No.1 Currency’s customers save money.’’

The partnership will see PCT apply its dedicated card management process to the No.1 Currency travel card, overseeing the management of Mastercard as scheme provider. Wirecard Card Solutions Ltd is the issuing bank, FIS the processor and allpay the card manufacturer. The partnership will ultimately include full project and account management from PCT, including marketing support, compliance guidance and a second line of customer service capabilities dealing with fraud, chargeback and dispute management. PCT has also developed No.1 Currency’s online account for easy money management.

Simon Phillips, Retail Director at No.1 Currency, comments: “We are delighted to launch our new prepaid travel money cards in partnership with PCT. PCT is an award winning company, dedicated to innovation in the FinTech sector.  We look forward to working with their expert teams to develop the No.1 Currency prepaid travel money card into a leading product within the market.”

The selection of PCT by FEXCO builds on the company’s recent momentum and expansion, having recently launched its bank.VISION digital banking platform. in a well-attended ceremony at St Paul’s Cathedral, London, in November. PCT has also been nominated for three prestigious industry awards in the past 6 months, including Consumer Finance Product of the Year at the upcoming FS Tech Awards, and Best Consumer Banking Initiative and Best New Customer Facing Innovation at October’s Emerging Payments Awards.

Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated. The Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to licence by Mastercard International Inc. WDCS is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051)


Related News

Swisscard Improves Early Collections, Reduces Net Credit Losses 40 Percent With FICO Analytics

Swisscard AECS GmbH, a leading credit card company in Switzerland, has optimized its early collections using FICO analytics leading to a 50 percent increase in revenue from... Read more »

FCA Rounds On Credit Card Firms Over Customers in Persistent Debt

The Financial Conduct Authority (FCA) has written to credit card firms telling them to review their approach to borrowers who are stuck in persistent debt, where they are... Read more »

Pleo Upgrades From Prepaid Cards To Credit Cards

Pleo is evolving – and perhaps the most important change is our new cards.

We’ve always offered a tool that made it easy for people to buy what they need to do their... Read more »

SoFi Is Partnering With Mastercard to Bolster Its Banking Offering With a Credit Card

The US-based fintech has teamed up with Mastercard for its new card network. Currently, SoFi offers a debit card product to users as part of its SoFi Money product via a... Read more »

Cornèrcard Launches Biometric Credit Card

Switzerland's Cornèrcard has teamed up with Gemalto and Visa to launch the country's first credit card featuring a biometric fingerprint reader.

To register a... Read more »

59% of Card-Present Transactions Globally Use EMV Chip Technology

Technical body EMVCo has published transaction data showing that 58.9% of card-present contact and contactless transactions globally were EMV®-enabled between July 2016 and... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel