The 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.
PFS said that the card provides a competitive exchange rate compared with airports and the high street. In addition cardholders can save for their trip to South Africa by making multiple loads to their card over several months.
The card also provides the security of a chip and PIN MasterCard card, making it a safer alternative to using foreign currency abroad. Further, using a mobile phone, cardholders can initially load, top-up card with funds, lock and unlock it instantly and can obtain card balance.
Noel Moran, CEO of PFS, said: “We are delighted to launch the first ever MasterCard Rand Travel Card in Europe. The PFS MasterCard Prepaid Rand Travel Card will be available throughout the UK and combines the safety of a payment card with the flexibility and convenience of a mobile phone. cardholders travelling to South Africa can effortlessly manage their money 24/7 using their mobile phone.
“The demand for prepaid travel cards is growing rapidly. The 2010 football World Cup is expected to be South Africa’s largest sporting event to date. The media contingent alone is estimated to number 30,000. All indications are that approximately 220,000 long haul visitors will travel to South Africa, 60,000 of which will be from the UK.
“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. 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.”
Prepaid Financial Services said: “When the card is purchased, it is immediately loaded with Rand at the current rate of exchange. This means that there are no foreign exchange charges when in South Africa as all spend will be in local currency. Once topped up, the card can be used at point of sale (shops, restaurants, hotels, etc.) or ATM’s throughout South Africa.”
