In anticipation of the world's largest sporting event occurring in South Africa this year, Prepaid Financial Services (PFS) have launched a Prepaid Travel Card in South African Rand (ZAR).
The PFS MasterCard Prepaid Rand Travel Card offers secure, cost effective and convenient foreign currency and is available directly to consumers or through businesses to their staff or consumer base. The Prepaid Card is issued by Transact Network Ltd.
Noel Moran, CEO of PFS explains, "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 United Kingdom."
The PFS MasterCard Prepaid Rand Travel 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.
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.
The cards provide a very 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.
Carrying large amounts of cash while abroad is not recommended or indeed very safe, this is particularly true in South Africa. One of the biggest advantages of the PFFS MasterCard Prepaid Rand Travel Card is the safety it provides to cardholders. The card provides the security of a Chip and PIN MasterCard Card, making it a safer alternative to using foreign currency abroad. The cards are considerably more convenient than traditional Traveller's Cheques, where travellers have the hassle of carrying around their passport and have to record their spent Traveller's Cheque numbers.
A cutting edge feature of the card is that it can be managed by simply sending SMS instructions from a registered mobile phone or online via the website.
The range of self-service account management functions available using a mobile phone includes the ability to initially load and top-up your card with funds, lock and unlock your card instantly and to obtain your card balance. These self-service functions are available at any time, globally, instantly, which gives customers enhanced control over their funds. In addition, cardholders can conveniently top up their world cup card by sending a SMS message from their mobile phone from anywhere in the world.
PFS are offering travel agents or anyone in the tourism sector the opportunity to re sell or distribute the PFS MasterCard Prepaid Rand Travel Card. Benefits to companies that wish to distribute/sell the card:
• PFS are the only dedicated prepaid provider providing a Card in South Africa Rand (ZAR) where business clients can benefit by earning commissions on card activity for the life of the card.
• An additional revenue stream for the reselling company
• No additional resources are required to offer the cards
• Ideal value added service for companies with existing travel offerings
• No licence requirements to offer the product
• It is an "off the shelf offering" and you can be up and running in less than 10 days.
• Every card sale generates revenue for the life of the card (2 years+)
• No investment or cost incurred to start selling the product