Spain’s postal industry leader Correso in Spain, has partnered with Prepaid Financial Services (PFS), an European issuer and program manager of physical and virtual prepaid card products, to launch the contactless Correos Prepago MasterCard card.
As part of the partnership, PFS provides the complete prepaid solution including BIN sponsorship, programme management, end-to-end technology solution and customer service support.
As the industry leader in the transportation of documents and parcels, Correos distributes nearly 3,600 million deliveries each year, reaching 28 million homes, companies and institutions. Furthermore, Correos has over 2,400 post office branches across Spain, providing customers with complementary services and financial products such as money remittance and now prepaid MasterCard cards.
The new Correos Prepago card, which is a general spend reloadable prepaid MasterCard available in EUR, was soft launched online in July.
The cards will be available to purchase via the national network of Correos post offices soon and can be loaded via credit and debit card online or at any of the Correos branches in Spain.
Providing a simple, safe and internationally accepted alternative payment method, without the need of being linked to a traditional bank account, the Correos Prepago MasterCard card has been designed specifically to help consumers budget effectively as only the amount loaded to the card can be spent.
Prepaid Financial Services is a UK based, multi-award winning, physical and virtual prepaid card provider, e-money issuer and MasterCard® supplier. Authorised and regulated as an e-money issuer by the FCA in the UK, PFS has passported its e-money license across the SEPA region to enable card issuance in up to 40+ countries. PFS operates as an issuer, BIN sponsor, programme manager, technology provider and acquirer, making the company unique in the payments space.
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