Press Room

Lycamobile expands into the financial products market with the launch of the Lycamoney prepaid MasterCard®

April 15, 2011
Lycamoney’s partnership with Transact Network and MasterCard provides customers with the power of safe electronic spending and budget control.
 
Lycamoney customers to receive an extra 10% Lycamobile credit every time they top-up their mobile using their Lycamoney Card.
 
Lycamoney will not charge a monthly fee, or a transaction fee for spending your own money
 
Lycamoneyis delighted to announce the launch of its prepaid card products in the UK market. Lycamoney has partnered with MasterCard, Transact Network, Carta Worldwide, Payzone, IID and Thames Cards to provide the best possible Prepaid MasterCard product available today in the UK. 
 
David Carr, VP Product Development at Lycamoney commented, “when selecting partners for this product launch we ran a number of RFI, RFP and RFQ’s and the selection criteria was very specific.  In choosing our partners we needed to be confident that their strategy, technical abilities as well as the long term stability that matched our vision.  We are very confident that the partners we have selected offer us the best of breed solution available today and will contribute to the success of Lycamoney in the UK marketplace.” 
 
“We offer two distinctive version of the Lycamoney Card, one that can be purchased in thousands of Payzone agent locations around the UK and an upgraded version online that allows cardholders to add multiple companion cards which will enable our cardholders to send money from the main card to any of the companion cards without attracting any fees.  The two version of the Lycamoney Card are both intrinsically linked to the Mobile, each transaction triggers a free SMS alert advising the customer of the transaction and the new available credit.  Lycamobile Customers can also interact via a short code for additional functions such as Mini Statement, Lock and Unlock, Balance, Card 2 Card Transfer and top up of their Lycamobile account”
 
 “Aligning the Lycamobile and Lycamoney Cards was a key requirement in the development stage of the product, without this alignment this would have been just another card for consumers to choose from.  I believe that what a number of Prepaid Cards have lacked in the UK market is distribution and an awareness of the brand, Lycamobile gives the Lycamoney Card both of these elements in abundance and will be proven a successful product in the years to come” added Carr.
 
Keith Hobbs European MD at Carta Worldwide said “Carta are delighted to be partnering with Lycamoney and Lycamobile in delivering this new prepaid product. The programme provides some unique benefits to Lycamoney customers that are market-leading and of real value. I am excited about the prospects for this product.
 
The Lycamoney prepaid cards are issued by Transact Network Limited, the e-money issuer and authorised and regulated MasterCard principal member. Kriya Patel, Sales Director at Transact Network commented: “We are delighted to be working with Lycamoney on the launch of these two new excellent card products and we look forward to supporting their expansion into financial products in response to the customer demand.”  
 
Media contacts:
 
Lycamoney
Rob Beswick
Marketing Director
Tel: +44 (0) 207 5366476
Email:rbeswick@lycamobile.com
 
Carta Europe
Head Office: England
33 Cavendish Square
London, England
T: +44 207 182 4054
Email: info@cartaworldwide.com
 
Transact Network
Pete Burgess
Head of Marketing
Tel: +350 200 03835
Email:corp_com@transactnetwork.com
Editor’s Notes:
 
About Lycamoney
 
Lycamoney Limited (www.lycamoney.com) was first established in 2009 to evaluate the existing market, gain consumer insight and then deliver a world-class financial services portfolio. Lycamoney is registered with HM Customs and Excise as a money transmitter, our MLR number is 12600388.The Lycamoney Card is issued by Transact Network limited under Licence from MasterCard International.  MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.  The Lycamoney Card is available to UK residents only; the primary cardholder may not send a “companion” card to India for the purpose of sending money.
 
 
About Transact Network Limited
 
Transact Network Limited is licensed and authorised by the Gibraltar Financial Services Commission. The Company is both MasterCard and Visa Europe Principal Member providing European BIN sponsorship and modular prepaid card services.
 
Transact Network issues Visa and MasterCard physical and virtual prepaid cards. The Company’s electronic money license has been successfully passported into every EU and EEA member state enabling the issuance of prepaid card programs across Europe.  
 
 
About Carta Worldwide
 
Carta Worldwide is a leader in prepaid and mobile payment transaction processing technology, enabling clients to deliver best-in-class payment solutions for the global market. Carta's advanced platform, specifically architected to meet the complexities of the prepaid and emerging payment environment, delivers end-to-end solutions that manage risk and optimize profitability. Carta is a certified Third Party Processor (TPP) with MasterCard Worldwide, and PCI-DSS compliant. 
 

Carta's unique processing technology helps issuers and program managers achieve market success and overcome challenges associated with legacy processing solutions. The flexible platform offers capability for open and closed loop, and private label programs, in multiple languages, currencies, and with diverse applications including prepaid card, mobile, virtual, and multi-purse devices. Extensive communication and reporting bring all of these features direct to clients, ensuring complete program control and transparency.