Raphaels, Post Office Team on U.K. Prepaid Card (July 23, 2014)
Raphaels Bank and the U.K. Post Office have joined to launch a new prepaid MasterCard. The Post Office Money Card can be topped up at bank branches, Web, SMS or from Post Office vans that visit rural locations throughout the U.K.
“This is part of the Post Office’s ambition to drive growth in its financial services business as well as challenging the market by offering customers a real alternative to other providers,” said Alan Smith, head of payments & banking services, Post Office Ltd. The postal service company has been steadily moving into payments over the past several years.
In May, Raphaels partnered with British auto association RAC to launch what the bank called the first prepaid loyalty card program for roadside recovery.
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