Press Room

Press Room

Transact Network, the European e-money issuer, BIN sponsor and prepaid card services provider, has announced a pioneering deal with Cyprus based United Card Services Limited (U.C.S.). 

 

The company, which operates in both the Cypriot and Greek markets, will offer customers a hassle free way to transfer money using its easily reloadable prepaid MoneySafe MasterCard, issued by Transact Network.

    

Marios Koutoumani, Marketing Director, U.C.S. explained: “In Cyprus we are the first out with this type of product. Cyprus is a thriving tourist market, with many nationalities living and working here. The Prepaid MoneySafe MasterCard allows the easy, safe sending of money to workers and their families abroad at a lower rate than any method currently available.”  

 

The prepaid card is easy to reload instantly through 24 hour money vouchers, point of sale kiosks and through mobile payments. 

 

The Greek market, where U.C.S is also marketing the MoneySafe MasterCard is especially exciting, according to Koutoumani. “There are many workers from different regions in Greece, who want a safe, reliable method of sending funds abroad. For example, there are thought be in the region of 120,000 Pakistani and Bangladeshi workers sending money overseas in small denominations. The MoneySafe MasterCard offers them the most efficient, fast and cost effective way of doing this.”

 

He added: “With the particular economic problems Greece has recently experienced many people feel more confident using a prepaid card than relying on banks, and they don't have to go through the hassle of opening a bank account, something which can be very arduous these days. We are offering a service that both the Greek and Cypriot markets don't currently have, and we are very excited about the future of the product.”

 

Colin Greaves, CEO of Transact Network commented “We are thrilled that United Card Services is working with Transact Network to deliver this pioneering prepaid card service in Greece and Cyprus. The flexibility of the service the company offers to its customers in terms of reloading the cards and sending money is truly innovative, and will help it be the market leader in their region.”

 

For further information on Transact Network visit www.transactnetwork.com or contact 

Leanna Sidhu at corp_com@transactnetwork.com or on +350 200 03829 

 

Notes to editors:

 

About Transact Network Limited

 

Transact Network is an authorized and regulated MasterCard and Visa Europe Principal Member providing European BIN sponsorship and modular prepaid card services to program managers and brand owners. 

 

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.  

 

The company’s proprietary modular prepaid service platform is fully integrated with many leading processors including Carta, ecommlink, FIS and M2 and  can also integrate with client proprietary processing systems, enabling bespoke, scalable  solutions,  rapid  implementation, low entry costs with earlier payback,   reliable ongoing management and  proven risk reduction. Multi-lingual project teams are dedicated to service client prepaid card programs.  

 

Transact Network clients include regulated financial institutions, financial services companies, marketing organizations, mobile phone operators, retail chains, large and small corporate, and governments.

 

About United Card Services Limited:

 

For more information please visit the  website www.ucsgroup.eu or please contact

 United Card Services Limited. – John Kennedy Street – Iris House, 7th floor Limassol Cyprus, 3106 Telephone: +357 22030485 - Email: inquire@ucsgroup.eu