Dresdner Bank selects First Data for pre-paid card processing

Source: First Data

First Data International, a global leader in electronic commerce and payment solutions, is providing card processing services for the new prepaid card introduced by Dresdner Bank, part of the Allianz Group.

The Dresdner Prepaid Card combines the principle of prepayment made familiar in the mobile phone market with the payment functionality of a credit card. The card is not linked to a credit facility, and the customer defines the level of credit available on the card by making a deposit. To support the new card, First Data is providing processing and call centre services.

The new card enhances Dresdner's service to its existing customers, providing greater financial security for those on holiday or making purchases over the internet. At the same time, it offers the benefits of a credit card to young people previously ineligible for one. It is a VISA card available for use worldwide at more than 24 million locations in 170 countries and through a million ATMs.

Oliver Klink, Head of Product Development at Dresdner Bank, said: "First Data is a proven partner with whom we can tap the full potential of this major new product. The prepaid card positions us both to attract new customer segments and to improve service to our existing clients."

"The Dresdner Prepaid Card is an important new cashless payment instrument in the German market," added Ernst Verbeek, vice president with responsibility for First Data's operations in Germany. "Our extensive prepaid experience and strong relationship with Dresdner Bank - recently extended for a further five years - positions us well to support the bank in this exciting and ambitious project."

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