APS partners Posta Romana on pre-paid card

Poºta Românã and Advanced Payment Solutions (APS) have partnered to launch Romania’s first-ever general purpose prepaid payment card.

Posta Romana and Advanced Payment Solutions (APS) have partnered to launch Romania’s first-ever general purpose prepaid payment card.

The launch of the Posta Romana cashplus prepaid MasterCard opens up a new market by bridging the gap between cash and credit cards in a country where a significant number of its 21m people do not have a bank account or credit card and most payments are made in cash.

Romanian consumers will be able to make purchases online, by telephone, in store, overseas and make cash withdrawals from ATMs or inside Posta Romana branches. Prepaid cards work by loading money on to the card to make purchases and do not require credit checks, so any Romanian adult will be eligible to open an account.

The card will be offered initially to Posta Romana staff ahead of the consumer launch in six Posta Romana branches in Bucharest in the second quarter 2009.

The card will be rolled out to all of Posta Romana’s 7,000 branches in due course.

Research undertaken by APS in October 2008 found that while 56% of Romanians have internet access at home or work, only 6% shop online due to security fears or lack of a card to make purchases. Respondents also saw the ability to use plastic cards to provide money to family abroad as an alternative to traditional money transfers out of Romania as an advantage.

Rich Wagner, CEO of APS, said: “I am proud that Posta Romana selected APS to help develop the payments market. Posta Romana’s trusted brand and network of more than 7,000 branches will reach consumers who have not yet been able to experience the financial freedom a plastic payment card provides.”

Marius Vatafu, CEO of Posta Romana, said: “Posta Romana enters the prepaid cards market in conjunction with two strong and experienced partners: MasterCard and Advanced Payment Solutions. Posta Romana will provide nationwide coverage to this partnership; due to this Posta Romana customers will benefit from a greater flexibility to manage their finances. Cashplus prepaid card will not only be accepted in Posta Romana branches, but also in retail stores, online shops and the ATM network worldwide; wherever the MasterCard sign is displayed. We are excited that some of our own employees will be first to use the new prepaid MasterCard.”