APS wins Money Shop card services deal

Source: Advanced Payment Solutions

Money Shop, the largest chain of company owned cheque cashers in the United Kingdom, has selected the cashplus prepaid MasterCard as its prepaid card of choice.

Money Shop, which has 161 branches through the United Kingdom, has signed a deal with Advanced Payment Solutions (APS) to retail its MasterCard card.

The contract was awarded after a comprehensive market review. Requirements of the contract included the ability for the selected card to be used widely on the internet and in cardholder not present transactions.

Paul Mildenstein, Managing Director for Money Shop says APS stood out as the supplier of choice because it offered the best consumer proposition.

"The full MasterCard association gives cashplus greater credibility than a Maestro product for our target market. Although, naturally, we'd prefer customers to reload in our stores, APS' foresight in building a relationship with the Post Office, giving customers 14,000 additional reload sites, gives the customer greater peace of mind and flexibility. We can see it is a powerful brand and network which adds kudos to what is still a relatively new proposition in the UK," says Mr Mildenstein.

Commenting on the contract win, Rich Wagner, Chief Executive of Advanced Payment Solutions, says being awarded the Money Shop tender was a significant milestone for the company.

"Securing the Money Shop contract reaffirms our decision to invest in building the more expensive full MasterCard platform. The size of Money Shop's branch network considerably strengthens our retail distribution channel. We look forward to working together to put more cards into the hands of consumers," says Mr Wagner.

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