Virgin Money is to launch a pre-paid MasterCard in the UK this summer in association with e-money issuer PrePay Technologies.
The Virgin Money pre-paid MasterCard card is not attached to any bank account and can be loaded with cash through 34,000 PayPoint and Post Office outlets across the UK and can also be topped up through wage transfers, credit or debit cards online and bank transfers.
The programme has been under development since September last year and is supported by privately-held PrePay Technologies through its 360money prepaid platform.
Jayne Anne-Gadhia, chief executive of Virgin Money says: "The Virgin brand stands for value for money, quality, innovation, fun and a sense of competitive challenge. The Virgin Money pre-paid MasterCard programme...is true to our brand values."