CashFlows, the innovative financial services group, announces that it has launched a prepaid card issuing service to complement its fast-growing portfolio of regulated financial services in Europe.
The CashFlows issuing service creates a 'one stop solution' that enables businesses to consolidate their card acceptance and issuing capabilities within an integrated model. CashFlows is a principal issuing and acquirer member of Visa and MasterCard but also offers a full programme manager package too, establishing relationships with processors, banks, payments networks and distributors on their customers' behalf. This approach reduces costs and drives greater business efficiencies.
CashFlows has already cemented its first partnership in card issuing with ROK Global, an international marketing and media group. In the strategic partnership with ROK, CashFlows will deliver prepaid card issuing services for two specific programmes, with an initial card order for over 50,000 cards.
This new solution complements CashFlows' existing contactless card programme for businesses using the CashFlows Account, a fully integrated business account that brings together business account and merchant account facilities.
Nick Ogden, Chairman and CEO, CashFlows, said: "The use of prepaid cards has never been stronger but businesses that want to offer programmes have been frustrated by the lack of regulated service providers and the time required for a programme to reach the market. CashFlows is pleased to announce the launch of its prepaid programmes, which have been designed to simplify the customer experience. We look forward to developing our relationship with ROK and working on further exciting programmes in the future."
John Ondreasz, CEO at ROK Pre-Pay, said: "We have been looking to roll out a prepaid programme for the past six years but until now, we could not find a company that met our European demand for a single source supply, coupled with a requirement to work quickly and flexibly. As a company with an international presence and aggressive future ambitions within the payments industry, we are delighted to partner with an agile and responsive company like CashFlows and look forward to our agreement delivering new and innovative card programmes to our ever-growing worldwide customer base."
As a seasoned innovator in the cards and payments sector, CashFlows recently won the award for Merchant Acquirer of the Year at the Cards and Payments Europe Trailblazer Awards and an award for 'Best Technology' from PYMNTS.com. This follows the successful launch of The CashFlows Account, the first solution in Europe that allows businesses to make, receive and manage electronic payments from a single account.
CashFlows is a principal issuing and acquirer member of Visa and MasterCard. It is also a member of the PCI Security Standards Council, UK Payments Council and SWIFT.