This new service is aimed at any company (telecommunication operators, financial institutions, retailers, others) wanting to distribute a Mobile PayPass prepaid service:

• Mobile prepaid accounts are of particular appeal to consumers wanting to experience mobile payments for the first time with full control over their finances and spending
• PPS' comprehensive service will be available in across Europe and will address everything from traditional issuance and processing, compliance and supply-chain management to fraud and customer-service support.
• The service will support payments at physical shops and person to person payments in the first step. In a second step, PPS will be integrated in the new PayPass Online infrastructure for easier and more secure payments at online merchants.

With this new offer, PrePay Solutions, which draws on the strengths and experience of its parent companies - Edenred and MasterCard Worldwide -, continues to be at the cutting edge of prepaid services.

"We know that our customers want to focus their efforts on the marketing and selling of new services that will continue to excite their consumers and take them - quite literally - into a world beyond cash. The mobile device is a perfect gateway for this and if we can leverage best-in-market mobile payments technology with the very best that prepaid can offer, then we believe we have a very rich and complete new offering for both our existing and new customers and consumers here in Europe," said Gilles Coccoli, Chairman PrePay Solutions.

"As businesses look to provide mobile payment services to their consumers, prepaid accounts are likely to become a popular product offered by a variety of companies, including mobile network operators, banks and merchants," according to Mung Ki Woo, Global Head of Mobile at MasterCard. "By working together, MasterCard and PrePay Solutions have built a seamless best-in-class technology for a robust mobile prepaid solution, including the ability to safely and easily pay with a tap of their mobile phone."

Concluding, Gilles Coccoli, said "Mobile payment is a fast, developing technology and companies need a smart and effective system in place in order to process payments in this way. We are confident our partnership with MasterCard will enable us to provide the ultimate mobile prepaid payments service in Europe."