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“We are thrilled that consumers have awarded Tuxedo this accolade, the award for best prepaid card provider puts the company in a good position to lead the exciting evolution of the prepaid industry,” comments John Sharman, CEO of Tuxedo Money Solutions. 

Tuxedo Money Solutions have started 2011 with this prestigious award, a number of brand collaborations and a new website with enhanced functionality and ease to navigate.

The  SLC  Group,  an  organization  providing  housing  related  and  specialist  community  care  support services, has partnered with Tuxedo Money Solutions, a leading prepaid card provider, to offer its clients and support staff a new safe, convenient and easy to use payment solution.

The SLC Group (Supported Living in the Community) provides supported living and specialist community support for people with learning disabilities, physical and sensory disabilities, mental health needs and autism. Their support staff work closely with individuals and families to offer a personalised approach to lifestyle management, whilst promoting choice and independence.

The SLC Group looks for unique ways to support people through maximizing opportunities for freedom of choice and individual control, particularly with regard  to  individual budgets –  this new prepaid card offers a simple solution. The Tuxedo MasterCard® Prepaid Card allows management to load the desired amount on to the card which can then be used to make purchases providing   a secure and convenient alternative to carrying around cash. Not only does this deliver a controlled spending tool, but there is also a full transaction history available and improved processing costs and times.

SLC manage the funds via a central, easy to administer, electronic wallet system.  The facility enables the administrator to allocate the appropriate funds to the nominated cards in seconds, 24 hours a day.

Charles Eggleston, CEO of SLC, says: “Our investment in Tuxedo Money Solutions has ensured that The SLC Group’s appointeeship service for the people we support promotes complete transparency whilst providing our support staff with a secure and efficient payment device. This initiative fits right into the health and social care sector’s personalisation agenda and we are delighted to be working in partnership with Tuxedo to drive forward this innovative approach to money management.”

John Sharman, CEO of Tuxedo Money Solutions says: “We are delighted that The SLC Group has chosen Tuxedo as their partner to provide people cared for by their support services with prepaid cards. Being such an easy-to-use and secure method of payment, the Tuxedo MasterCard Prepaid Card is an obvious solution for carers helping individuals to manage their money.”

In a first for the European payments industry, Proxama, the UK’s leading mobile contactless payments, ticketing and marketing technology business, has partnered with Tuxedo Money Solutions, one of the UK’s leading e‐money product providers, to offer prepaid contactless payments for mobile phones. The solution, which leverages MasterCard® PayPass™ technology, runs on Tuxedo’s eccount platform, and can be deployed on mobile phone handsets that include Near Field Communications (NFC) technology.

As the prepaid market continues to expand, there is an increasing demand for new contactless propositions, which offer customers a simpler and more rewarding way to pay. The joint solution allows users to top‐up and check their prepaid account balance 24 hours a day from their mobile phone. In addition, users can instantly block or cancel their account if their phone is lost or stolen.

The development of this solution means that financial service providers, Mobile Network Operators, Mobile Virtual Network Operators and retailers looking to offer their customers a simpler and more rewarding way to pay, can enter the contactless payments market ‐ allowing for simpler integration, faster uptake and quicker market penetration. Proxama also offers contactless ticketing and marketing applications which, when combined with the payments application, creates the next generation of marketing opportunities.

Neil Garner, CEO of Proxama said: “Along with Tuxedo we have developed both a flexible and contactless payment  technology. This technology will enable any brand to integrate mobile contactless payments into their existing products and services – without the need for complex technology partnerships or significant in‐house development. We believe this will enable brands to realise the rapidly emerging contactless opportunities, and with a healthy return on investment.”

John Sharman, CEO of Tuxedo Money Solutions says:  “With the recent growth in the prepaid card market, we are delighted to be working with Proxama to be able to provide additional prepaid e‐money solutions to the market. I am very excited that we are working with such a forward-looking company to develop a modern and exciting new financial product”.

Endsleigh, the UK’s number one student insurance provider, has joined forces with Tuxedo Money Solutions, the leading prepaid card provider, to offer a new solution for students looking to budget – a prepaid student card.

This versatile card can be used anywhere that accepts MasterCard®, making it perfect for day to day transactions, shopping securely online and spending while abroad.  Unlike credit or debit cards, which are linked to a bank account, a prepaid card only allows students to spend the amount they have loaded. It also has no foreign currency conversion rates, which means it is a great alternative to travellers’ cheques or credit cards during overseas trips. With the summer break and gap years close by, it is perfect for students wanting to live life to the full while staying in control of their finances.

The Endsleigh Prepaid Student MasterCard®, costs just £9.95 to purchase and can be applied for through the Endsleigh website. www.endsleigh.co.uk. There are no credit checks and the whole process takes a few minutes.

Partnering with prepaid card service provider Tuxedo Money Solutions and issuing bank Newcastle Building Society, Endsleigh Prepaid Student MasterCard® offers its customers the eccount^†® facility where funds are safely held and released to their cards. The eccount® and card balances can be checked 24 hours a day and can be instantly blocked or canceled if it is lost or stolen.

Other benefits of the prepaid card include:

• Limits exposure to fraud or theft
• Chip and PIN security
• Money can be loaded by parents quickly and easily
• No bank account required
• Can be topped-up online, by phone or by text message (fees may apply)

Endsleigh spokesperson, Rebecca Heard says “Endsleigh have been providing products and services to students since 1965. We are delighted to offer students another product which is ideal for budgeting. The card can be used anywhere the MasterCard logo is displayed and can be topped up instantly by the cardholder or parent by phone, text message or online.

John Sharman, CEO of Tuxedo Money Solutions says “I am delighted to be working with Endsleigh to provide students with a responsible solution to help them manage their money. Students will be able to use their cards with confidence at 30 million locations and 1.5 million ATM’s around the world**. The card will offer students a new sense of security.”

The Elite Travel Group, a consortium of independent travel agents, has partnered with Tuxedo Money Solutions, a leading prepaid card provider, to offer its members a compelling additional product to sell to their customers; The Tuxedo Travel MasterCard® Prepaid Card. Holidaymakers and business travellers are increasingly looking for safe and convenient ways to control and protect their holiday spending – this new prepaid travel card offers a simple solution.

Travel currency cards are one of the fastest growing methods of spending money overseas, due to the security and convenience of a prepaid format. Elite Travel Group has recognised this growing trend as an opportunity for its members to offer customers an attractive spending method; which will drive customer loyalty and additional revenue. The opportunity for additional revenue has proved exceptionally popular with existing travel agents with revenues reported to be over double what has been achieved in travel insurance sales.

The Tuxedo Travel MasterCard® Prepaid Card allows travellers to use their card worldwide as it is loaded with sterling* and then it is converted to the local currency when a customer makes a transaction on the card. The card will allow consumers to hold up to £5,000 in a secure online eccount®. From the eccount funds can be safely moved to the card by text message (fees may apply), via the internet or phone, when required.

Tuxedo offers its customers the eccount facility where funds are safely held and released to their cards. The eccount or card balances can be checked 24 hours a day. Customers can also instantly block or cancel their card if it is lost or stolen. Free SMS alerts are sent when the card balance is low and needs topping‐up.

Travel card benefits for customers:

• A convenient alternative to travellers cheques
• A secure alternative to carrying large sums of cash
• Chip and PIN secure
• Block or unblock the card instantly online or via SMS

Based on a MasterCard prepaid platform, the travel cards are not linked to a bank account, reducing the risk of ID theft and there are no credit checks.  Customers simply purchase a card from the member’s point of sale for £19.95, activate their Money Card account online and top it up with funds. Consumers can also have up to two cards registered on the same eccount. The extra card will only cost £4.99 and is a convenient way for both holidaymakers and business travellers to look after their money.

Robert Grinsell, director of Elite Travel Group, says “We have chosen to work with Tuxedo Money Solutions to offer our members a leading travel card that will not only provide value for their customers and drive loyalty but also create an additional revenue stream. Travellers will benefit from a safe and cost effective way of spending abroad without being charged a transaction fee each time they spend, whilst the members business generates revenue when the card is used.”

John Sharman, CEO of Tuxedo Money Solutions says;

“We are delighted that Elite Travel Group has chosen Tuxedo as their partner to provide members with prepaid travel cards. Members will benefit from a meaningful additional revenue stream while cardholders will benefit from being able to use their Tuxedo Travel MasterCard® Prepaid Card in over 30 million locations and 1.5 million ATM’s in the UK and abroad where the MasterCard Acceptance Mark is displayed.”

*There are a number of ways to load money including BACS (free), credit card (4% fee), debit card (free) and Paypoint (3% fee)

AA Financial Services, in partnership with Tuxedo, the UK’s leading e-money solutions provider, has launched two prepaid cards: The AA Spend and Earn MasterCard® Prepaid Card and The AA Travel Euro Currency MasterCard® Prepaid Card.  Both cards offer the same reward earning potential as the well-established AA Credit Card.

The reward system works in the same way as the AA Credit Card.  Any purchase using the new cards, either online or wherever the MasterCard Acceptance Mark is shown, enables the user to earn AA Reward Points.  As the AA is a motoring organisation, double points are earned on motoring spend, including fuel, while AA members earn points at twice the rate of non-members.

Cardholders can transfer their points to an AA Credit Card if they have one, while points can be redeemed on a range of AA services such as membership and insurance, as well as a wide range of other goods, services and shopping vouchers.

The Spend and Earn card can act as an effective alternative to the AA Credit Card. If an application for an AA Credit Card is declined, the applicant is offered the AA Spend and Earn card.  It is free to purchase, and it promotes financial inclusion by offering a convenient way of managing expenditure.

The Euro card, which costs £9.95 to purchase (which is refunded after the first £100 has been loaded on to the card), works in a similar way and there are no charges for use at retail outlets or ATMs (when you withdraw €50 or more).  The currency is converted at point of load enabling the customer to select the best rate for them. The daily exchange rate for the card can be found using our online Euro Currency Calculator at www.theaa.com/currency-card/euro-currency-calculator.html .

For both cards, customers are automatically provided with an ‘eccount’ facility where funds are safely held and transferred to the card. Transfers can be made by telephone or by text message and can be checked 24 hours a day.  The cards can be instantly blocked or cancelled if lost or stolen.

Cards can be applied for online at www.theaa.com .

Mark Huggins, director of AA Financial Services says:  “In the current uncertainty of the credit market, the new AA Spend and Earn card offers a straightforward option for those who are either unable to or prefer not to hold a credit card.  The Euro card provides immediate access to funds without costly exchange rates or other charges, allowing your holiday money to go a little further.  Both are easy to use at shops, ATMs and everywhere else that credit and debit cards are accepted, where the MasterCard Acceptance Mark is displayed.  In addition they offer both AA members and non-members the benefit of the acclaimed AA Reward system.

The Tuxedo ‘eccount’ facility to which the cards are linked enables customers to enjoy the use of an online tool that enables them to manage their money with ease.”

John Sharman, CEO of Tuxedo Money Solutions says;

“I am delighted that AA chose Tuxedo, one of the UK’s leading prepaid card providers, to offer its customers the latest in financial products. The AA cards provide users with a convenient, secure and cost effective financial product, which can be used at over 30 million locations including 1.5 million ATMs in the UK and abroad anywhere you see the MasterCard Acceptance Mark.”

Media contacts:

AA:

For further information about AA please contact Ian Crowder on 01256 492 844 or email Ian.crowder@theaa.com.

Tuxedo Money Solutions:

For further information about Tuxedo Money Solutions, the company behind the AA Spend and Earn Card please contact Tom Nutt, Alice Hart or Becky Roberts at The Communication Group plc on 020 7630 1411 or email tnutt@thecommunicationgroup.co.uk ahart@thecommunicationgroup.co.uk or broberts@thecommunicationgroup.co.uk